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

Homeowners: Your Flood Risk May Be Higher Than You Think

April 12, 2016 2:15 am

The Insurance Information Institute (I.I.I.) reports less than 15 percent of homeowners and renters have flood insurance—but nine out of 10 natural disasters involve some level of flooding.

“Too few residences are covered by flood insurance policies because many homeowners and renters underestimate their flood risk,” says Jeanne Salvatore, the I.I.I.’s senior vice president for Public Affairs and chief communications officer, noting that 20 percent of all flood claims come from moderate-to-low flood risk areas. “Most Americans should, at the very least, consider acquiring flood insurance because standard homeowners and renters policies do not cover flood-caused damage.”

Flood insurance is available to homeowners and renters from the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP) and a few private insurance companies. Excess flood insurance policies can also be purchased by homeowners seeking coverage above and beyond the basic NFIP policy, which is capped at $250,000 for structural damage and $100,000 for contents. Those residing in a community that does not participate in FEMA’s NFIP also have the option to purchase an excess policy.

“There is a 30-day waiting period between buying an NFIP policy, and when the coverage takes effect, so those residing along the Gulf and Atlantic coastlines may want to act soon, because hurricane season starts on June 1,” Salvatore adds.

The National Oceanic and Atmospheric Administration (NOAA) projects elevated risk of moderate flooding in the South and areas along the Missouri River basin this year.

Source: I.I.I.

Published with permission from RISMedia.


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The Best (and Worst) Things to Buy in April

April 11, 2016 2:15 am

Seasonal shoppers save big bucks because they know what goes on sale when, and what purchases to delay until the timing is more favorable. Recent posts on DailyFinance.com and DealNews.com reveal the five best—and worst—things to look for in April:

• Green Goods – Earth Day may be near the end of April, but retailers use the entire month to promote green goodies, offering special deals on organic foods, natural beauty items and other earth-friendly goods for the home and garden.

• Restaurant Freebies – There are some savings available on Tax Day, when many restaurants offer free food incentives, including no-cost appetizers, beverages or desserts when you order a meal. Watch the ads in your local paper for offers in your community.

• Small Kitchen Appliances – Wedding season is around the corner, and the best deals are available now on toasters, coffeemakers, hand mixers, blenders and more.

• Vacuums and Cleaning Supplies – With spring cleaning in mind, prices go down on vacuum cleaners and other hard and soft cleaning goods in April. Look online, as well as in retail shops, for the best buys on the equipment you need.

• Winter Wear – With cold weather on the way out, retailers are clearing out winter clothing and accessories to make room for spring and summer styles. With a little due diligence, you may be able to score clearance winter goods at more than 50 percent off.

Which items should you delay purchasing?

• Grills – It’s tempting to want to start grilling as soon as the weather begins to warm up, but the best buys on grills and grilling gear are in May and June, experts say.

• Mattresses – You’ll start to see them go on sale in April, but the experts recommend waiting until May or June for deeper discounts—sometimes as much as 60 percent off original prices.

• Refrigerators – The new models come out in June, so wait a month and look for sales of as much as 25 percent off on this year’s models then.

Published with permission from RISMedia.


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