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Calfee Home Advantage Making Our Cape Cod Customers Feel More At Home

1/25/2015

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Protect your family, home and belongings with homeowners insurance (or home insurance)—provided and serviced by Calfee Insurance and their select homeowners insurance companies.*

Get insurance coverage for a number of expenses, from medical care for someone who got injured on your property to repairs if a windy storm or fire damages it.

Basic homeowners policies cover damage to the house caused by fire, vandalism, hurricane, lightning, or other specifically covered events. Homeowners policies also cover loss or damage of personal property due to theft or other covered events. Expensive collections of jewelry or furs might need additional rider policy coverage. Losing possessions can be a shock if you never considered that possibility when opting against homeowners insurance. Policies also cover liability up to certain limits, protecting the insured in case someone injures himself on the property. They also pay for costs if someone sues the homeowner. Some people increase the amount of liability insurance they have with umbrella or extension coverage.

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Understanding Homeowners Insurance

1/25/2015

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Coverage
According to a survey published in the Journal of Financial Planning, many homeowners have vastly misguided views of what their homeowners insurance actually covers. According to this survey conducted by the National Association of Insurance Commissioners, "One third of homeowners believe flood damage will be covered by their standard policy. Over half think their policy covers them in the event of a water line break. Thirty-five percent say they will be compensated for an earthquake, and a slightly lesser proportion thinks mold is covered." 
In actuality, the typical perils (causes of property destruction) that are typically not covered are:

  • Flood damage (this is a separate policy)
  • Earthquake (this is also a separate policy)
  • Mold
  • Acts of war
  • Parts of the property in disrepair (Including worn-out plumbing, electrical wiring, air conditioners, heating units and roofing).
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Protect Your House, Protect Your Family

1/25/2015

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Protect Your House, Protect Your FamilyHave you recently questioned why bother with home insurance? Well, think again!

Some people drop coverage if they are not required to have it. In the event of damage, an uninsured homeowner might lose the building and a place to live. A home is the largest asset most people have, so losing yours could be ruinous. Even if fire or wind damage never occurs, a slip by an uninsured worker on a slippery tile staircase could cost a homeowner thousands for medical care and lost wages. Universal Property & Casualty Insurance Company is a company you can trust. Act now!

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Flood Facts

1/18/2015

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  • In the past 5 years, all 50 states have experienced floods or flash floods.
  • Everyone lives in a flood zone. (For more information, visit our Flood Zones FAQs.)
  • Most homeowners insurance does not cover flood damage.
  • If you live in a Special Flood Hazard Area (SFHA) or high-risk area and have a Federally backed mortgage, your mortgage lender requires you to have flood insurance. (To find your flood risk, fill out the Flood Risk Profile.)
  • Just a few inches of water from a flood can cause tens of thousands of dollars in damage.
  • Flash floods often bring walls of water 10 to 20 feet high.
  • A car can easily be carried away by just two feet of floodwater.
  • Hurricanes, winter storms and snowmelt are common (but often overlooked) causes of flooding.
  • New land development can increase flood risk, especially if the construction changes natural runoff paths.
  • Federal disaster assistance is usually a loan that must be paid back with interest. For a $50,000 loan at 4% interest, your monthly payment would be around $240 a month ($2,880 a year) for 30 years. Compare that to a $100,000 flood insurance premium, which is about $400 a year ($33 a month).
  • Homes and businesses may qualify for the low-cost Preferred Risk Policy, with premiums starting as low as $129 for a home and its contents and $643 for a commercial building and its contents.*
    *$129 residential annual premium provides $20,000 building and $8,000 contents coverage. $643 commercial annual premium provides $50,000 building and $50,000 contents coverage.
  • You are eligible to purchase flood insurance as long as your community participates in the National Flood Insurance Program. Check the Community Status Book to see if your community is already an NFIP partner.
  • In most cases, it takes 30 days after purchase for a policy to take effect, so it's important to buy insurance before the storm approaches and the floodwaters start to rise.
  • In a high-risk area, your home is more likely to be damaged by flood than by fire.
  • Even though flood insurance isn't federally required, anyone can be financially vulnerable to floods. In fact, people outside of mapped high-risk flood areas file nearly 25% of all National Flood Insurance Program flood insurance claims and receive one-third of Federal Disaster Assistance for flooding.
  • From 2003 to 2012, total flood insurance claims averaged nearly $4 billion per year.
  • When your community participates in the Community Rating System (CRS), you can qualify for an insurance premium discount of up to 45% if you live in a high-risk area and up to 10% in moderate- to low-risk areas.
  • Since 1978, the NFIP has paid more than $48.1 billion for flood insurance claims and related costs (as of 7/8/13).
  • More than 5.5 million people currently hold flood insurance policies in more than 21,800 communities across the U.S.
  • The two most common reimbursement methods for flood claims are: Replacement Cost Value (RCV) and Actual Cash Value (ACV). The RCV is the cost to replace damaged property. It is reimbursable to owners of single-family, primary residences insured to at least 80% of the building's replacement cost.



For more policy and claim statistics, visit the National Flood Insurance Program.
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What is a Flood?

1/18/2015

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Protect your home & your family with flood insurance. Think and plan ahead!


Anywhere it rains, it can flood. A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Many conditions can result in a flood: hurricanes, overtopped levees, outdated or clogged drainage systems and rapid accumulation of rainfall.

Just because you haven't experienced a flood in the past, doesn't mean you won't in the future. Flood risk isn't just based on history, it's also based on a number of factors: rainfall, river-flow and tidal-surge data, topography, flood-control measures, and changes due to building and development.

Flood-hazard maps have been created to show different degrees of risk for your community, which help determine the cost of flood insurance. The lower the degree of risk, the lower the flood insurance premium.



Source: FloodSmart.gov
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Severe Storms & Nor'easters

1/18/2015

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Best coverage for your home is now just a few clicks away. Are you paying too much for your home insurance? Are you looking to lower your cost of insurance, while improving quality? Contact us for a free, no obligation quote. Protect your home, protect your family. 

Severe storms—known as hurricanes or Nor'easters—bring high winds and flooding. Winds combine with tides to cause storm surge, a huge wave that can push water miles inland. The storms also bring heavy precipitation that comes in bands. The bands can extend for hundreds of miles inland, causing widespread flooding. Slow-moving storms, such as Hurricane Irene in 2011, can travel into mountainous regions and produce especially heavy rain and significant flooding.


With a combination of soaking rain, flying debris, high winds, and tidal surges, hurricanes and tropical storms can pack a powerful punch. Besides causing extensive damage in coastal areas, hurricanes and tropical storms often bring flooding hundreds of miles inland, placing communities that normally would not be affected by the strongest hurricane winds in great danger. Just a few inches of water from a flood can cause tens of thousands of dollars in damage. 

Everyone needs to be financially protected from the dangers of hurricanes. Because most policies take 30 days to go into effect, the time to act is now.










Source: FloodSmart.gov
Click HERE for a FREE Flood Insurance Quote
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Winter, Rainy Season

1/18/2015

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Heavy rains are common in many parts of the United States during the winter months. These storms often lead to flooding.

Several large wildfires in the western United States have dramatically changed the landscape and ground conditions, resulting in fire-scorched land that can lead to flash floods and mudflows under heavy rain. Experts say that it might take years for vegetation, which will help stabilize these areas, to return. 

In cold climates across the nation, heavy rain sometimes follows heavy snow. The frozen ground cannot absorb the rain-soaked snow pack, so flooding occurs. 

Along the Atlantic Coast, nor'easters can bring heavy rains, snow, and wind-driven waves that can lead to flooding and beach erosion.


Be prepared! Purchase flood insurance for your home (and business) and its contents, take an inventory of your belongings and make an emergency plan for you and your family.


Many areas of the country are at heightened risk for flooding due to heavy rains. This excessive amount of rainfall can happen anytime throughout the year, putting your property at risk. 

Storms over the Pacific Ocean bring heavy rains to the western United States between the months of November and April. Spring rains in colder climates can lead to flooding when the still-frozen ground cannot absorb the water. And summer months often bring heavy rains to the eastern and southern United States as warm air and moisture from the ocean move inland. 

Cresting rivers, backed-up storm drains or saturated ground can cause significant, widespread floods during these times.



Source: FloodSmart.gov
Click HERE For a FREE Flood Insurance Quote
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