Taylor-Brown Real Estate Talks

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Insurance companies are shifting the financial burden of protecting a home to the homeowner. How?  The insurers like Allstate and State Farm are now requiring homeowners that live in states that are prone to hurricanes and wildfires to protect their homes by purchasing permanent storm shutters and/or installing fire retardant roofs.

Your question maybe is this legal.  The answer is yes, although states can mandate that the insurer requirements be modified or deregulated.  One state did just that.  Connecticut enacted a law that prohibited insurers from requiring permanent shutters as a requirement for the home to be insured.  The state felt that if the homeowner utilized a much cheaper alternative by using temporary plywood shutters the requirement of providing reasonable protection of the asset or home has been satisfied.

In states, that do not require permanent shutters or fire retardant roofs a homeowner can expect a substantial savings in premium if they make those improvements.

Remember that even if you can not afford to make all the recommended improvements right away the insurer is required to allow you time to do so.  Still yet, there may be low interest loan and/or grants available through the city or state that can help you comply to regulation changes by the insurer.

• Is Your State Doing Its Share to Help in This Housing Crisis? For the state of Indiana, I would have to say that is a resounding, NO.   For the state of Illinois, I found the answer to be YES.   I found it interesting that the housing crisis is affecting all fifty states, but until recently only fourteen states have made......
• It Is Time To Make A Stand Is your NIPSCO bill and the potential rate increase getting you down? Is the property tax increase making you want to move to another state? "Revolt at the State House" There is something you can do.  For the NIPSCO bill, you could voice your opinion to the regulatory commission.  For......
• Common Myths about Foreclosure The myths that people believe will save their homes from foreclosure are: ignoring it investors listing with a realtor filing bankruptcy refinancing Myth 1 Ignoring the problem Ignoring the problem is definitely not the way to handle the dilemma of foreclosure.  Ignoring increases the chance of the homeowner getting thrown......
• Thousands Now Can Get Educated Who Never Thought They Could Did you know that the recently approved of the  American Reinvestment and Recovery Act included billion of dollars for education and job training?  In addition, over a third of the jobs available require more than a high school diploma, but only a half of Americans have the required education. Online......
• What Does Mortgage APR Indicate? [caption id="" align="alignleft" width="180" caption="Image via Wikipedia"][/caption] This post is written by Steven Parker.  Steven Parker is a financial writer and contributor for the last five years.  He specializes in mortgage and real estate industry and has written many articles on mortgage, reverse mortgage, loan modification, foreclosure and many......

• Credit Series: Why Credit Matters We've talked a lot about how credit scores are calculated as well as ways to improve your score, so today...
• Why You Need Renters Insurance And How Much It Costs. The renters insurance for the house I am renting is a whopping $12.50 a month for a $45,000 full-replacement value...
• Why Credit Unions Instead of Banks In days of old when I was much less informed in financial matters (not that I'm a financial whiz now,...
• Zopa Launch Imminent Zopa, a peer-to-peer lending company with a long history across the Atlantic, has sent me (and probably countless others) an...
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