RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

What Role Does Insurance Play in Home-Sharing?

July 19, 2016 1:18 am


As the sharing economy hits its stride, more every-people are taking advantage of home-sharing platforms like Airbnb, HomeAway and VRBO. The ease-of-use of these platforms, however, should not detract from insurance considerations, says John M. Huff, president of the National Association of Insurance Commissioners (NAIC).

“Sharing a home, car or even personal items with a complete stranger reflects a new level of trust between buyers and sellers,” Huff said in a statement. “When using companies like Uber and Airbnb, or lesser-known options such as Poshmark and TaskRabbit, failing to understand the insurance implications of these transactions can be costly. The NAIC encourages consumers to share with care.”

To determine adequate insurance coverage, home-sharers should discuss their intentions with their insurance provider, the NAIC recommends. The home-sharer may be required to supplement a standard homeowners insurance policy with additional liability coverage, home-based business coverage, or even landlord insurance.

The NAIC suggests the home-sharer confirm the damaged-related coverage an existing policy offers, as well. Home-sharers may opt to limit rentals to those who can show proof of homeowners, renters or personal liability insurance, so that they will be able to file a claim on the renter’s policy should the renter damage the property.

Most importantly, home-sharers should stay up-to-date on the policies and terms of use of each sharing platform. Home-sharing agreements are apt to change, and often, according to the NAIC.

Source: National Association of Insurance Commissioners (NAIC)
 

Published with permission from RISMedia.


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The Science Behind Grocery Shopping

July 18, 2016 1:18 am


Shopping is a science—one repeat savers know well. The savviest shoppers routinely apply it to recurring household expenses, like groceries, to reap the most savings.

Shopping app Ibotta recently cracked the code to the secrets behind the science of grocery shopping, revealing the best times to shop for everyday items.

Grocery bills, for one, are highest on weekends—the most popular time of week for shoppers. The savings, Ibotta found, are earlier in the week: better prices on beer, wine and ice cream can be found on Mondays and Tuesdays, and discounts on produce are common on Wednesdays.

Shoppers purchasing beer and wine on a Monday can expect up to a 9 percent discount off Saturday prices. The best stores for savings, according to Ibotta:

• Walmart ($7.75/six-pack beer)
• Target ($8.11/six-pack beer)

• Walgreens ($9.23/wine)
• Walmart ($9.39/wine)
• Sam’s Club ($9.61/wine)

Ice cream is also best bought on Monday, when shoppers can save up to 9 percent. Dollar stores, Ibotta found, have the steepest discounts: $3.01 at Dollar General, and $3.26 at Family Dollar.

Produce, on the other hand, is the least expensive on Wednesdays, especially at regional retailers like Albertsons or Food4Less.

Ibotta also pinpointed the purchase preferences of certain cities, with some intriguing findings: the city that purchases the most beer and wine, for instance, is Tampa Bay, Fla.—the “Booziest City.” The “Ice Creamiest City,” based on purchasing trends, is Richmond, Va. Seattle is named the “Healthiest City,” due to its penchant for organic, healthful food purchases.

And Green Bay, Wis., is the “Cheesiest City.” No surprise there!

Source: Ibotta
 

Published with permission from RISMedia.


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