New homeowners: Build your home maintenance tool-kit (infographic)


home maintenance tool box
If you are a new homeowner, your financial lender will likely require you to carry homeowners insurance, which is designed to protect your property from loss related to a wide range of unplanned or accidental perils. Take the time to understand what is covered and what is excluded because there are some disaster-related exclusions unless you have additional coverage – the Insurance Information Institute has a a handy guide to coverage by policy type—and what’s not typically covered.

You should also be aware that as an insured property owner, you have some obligations, too. One common reason for claim denial is a loss related to your failure to conduct maintenance. The Insurance Information Institute says: “It is your responsibility to maintain your home and take reasonable precautions to protect your home from damage. Your insurance policy will not cover damage due to lack of maintenance, mold or infestation from termites or other pests.”

Step one in maintaining your property is having the right tools. While you may want to hire someone for the big jobs, there are a lot of little day-to-day repairs or chores that you can handle yourself if you have the right kit. Building a good tool kit usually happens over time because it can be costly, but you should start out with some essentials. We like this infographic about building a tool kit from The Fix. It offers a three-tier plan for essential tools, tools that you may want to add in for do-it-yourself projects and tools for advanced repairs. It also offers tips for tool storage and organization in the related article: Basic DIY Home-Repair Tool Kit.


Source: Fix.com Blog

Get Ready: Avoid Costly Surprises


The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories.

They’ve recently launched a new “Get Ready” campaign:

For many, insurance only matters when something bad happens and we need to file a claim or lodge a complaint. But the best time to get educated about insurance is when you’re in the process of making a major life decision, like buying a new car, but before a related crisis, like a car accident.

That window of time between decision and crisis is why Insure U developed Get Ready resources. These new resource kits help consumers considering a major life event get smart about the insurance implications before a crisis occurs. The goal is to avoid hasty, uninformed and costly misunderstandings later.

They’ve compiled new toolkits, games and apps on several of these life events:

  • Planning a Wedding
  • Buying a Home
  • Buying a Car
  • Becoming Parents
  • Changing Jobs
  • Turning 50

As a credible, trusted source for consumer insurance information, they deserve a place in your bookmarks. NAIC offers educational resources at Insure U, important consumer protection resources, where you can file a complaint, report fraud, or research more about insurers. You can also find information for contacting your state insurance authorities.