Home Buyer
Posted: February 9, 2019
Today we approach a common occurrence for a home buyer: Your offer (or “bid” for you Wall Streeters) was just accepted on your home purchase. Your lender has requested a binder for homeowner insurance prior to scheduling the closing. Now what? What makes up proper Replacement Cost coverage for the dwelling or structure? We believe appropriate coverage would begin by first determining the cost to...
Water Damage to the Home…How Can it be Prevented?
Posted: August 15, 2018
Water damage accounts for about 25% of all homeowners’ property insurance claims. Some of these problems are the result of events beyond our control such as torrential rain and hurricanes. Significant water damage is often caused when ordinary household appliances or plumbing fail. We can do quite a bit to avoid the costs and inconvenience of water damage. Step one: Locate the “main water...
In-Home Business? Here are some exposure concerns...
Posted: June 21, 2018
IN-HOME BUSINESS: The U.S. has experienced rapid growth in home-based businesses in the last decade; there are over 11 million home-based business in the country. The question is, do they have proper insurance? Most home-based business owners assume that their “homeowner policy” provides coverage for their business. That policy specifically excludes business liability exposures and offers only limited coverage for business personal property (BPP). If...
Risks of Buying Cheap Insurance...
Posted: May 4, 2018
Everyone wants value for their money. Everyone wants the best price. At what point does inexpensive become “cheap”? Why does The Nicolaysen Agency seem to come up with prices that might not be the cheapest? When you’re dealing with a commodity, where one item is the same as another, cheapest price works. However, most of the things we buy are associated, in some way, with...
Home Renovation & Remodeling
Posted: February 13, 2018
Part I - Renovation When you’re remodeling your home, there are various things to consider. First, changes to the home might affect your homeowner insurance and could create a future problem if the insurance company is not notified. Your policy should reflect the full cost to rebuild your home; you would want to fully protect your asset. When working with a general contractor (GC) be...