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

Evaluating Insurance in a Multigenerational Home

June 30, 2015 2:18 am

Multigenerational households are fast becoming the norm, with many families housing three or more generations under one roof. While this can be beneficial financially, multigenerational housing situations present some unique insurance considerations. According to the National Association of Insurance Commissioners (NAIC), it is crucial for multigenerational households to evaluate their insurance when a new resident moves in.

First, notify your insurer of your new circumstances and find out what your homeowner’s policy covers. Standard policies typically protect residents from fire or theft, but protection of personal possessions (including big-ticket items) may require additional coverage. When assessing your coverage, consider how long the family member plans to live with you.

Remember that dependents, such as college students, are covered under a parent or guardian’s policy, generally up to 10 percent.

If your new housemate is bringing a pet into the mix, ensure you have adequate liability coverage.

If your new household addition will be paying rent, he or she may want to obtain renter’s insurance. Policies are relatively inexpensive.

Source: NAIC

Published with permission from RISMedia.


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How to Save on Unpredictable Energy Costs

June 30, 2015 2:18 am

Sizzling heat and freezing temperatures can take a sizable chunk out of household budgets throughout the year. “Changing seasons require renters and homeowners to adapt quickly when it comes to household savings,” says National Foundation for Credit Counseling© (NFCC©) spokesperson Bruce McClary. “The good news is that there is more than one way to achieve the kind of energy efficiency that can add up to extra savings.”

According to the NFCC, homeowners and renters can spend less on energy by:

• Turning off lights, televisions, stereos, computers, and other electrical devises when not in use;

• Installing a programmable thermostat to efficiently manage heating and cooling;

• Plugging items such as televisions and DVR players into a power strip to prevent them from running on standby;

• Drying dishes by hand instead of using a heated drying cycle in the dishwasher;

• Lowering the hot water heater thermostat to 120 degrees Fahrenheit;

• Replacing older shower heads with low flow attachments;

• Waiting for a full load before washing clothes and dishes;

• Using a clothesline to dry clothes or using the air dry setting on the dryer;

• Closing all windows and doors when heating or cooling the home.

Remember light bulbs, home appliances, electronics and other products that display the ENERGY STAR® label are products that comply with U.S. Environmental Protection Agency and the U.S. Department of Energy guidelines.

If energy costs have contributed to uncontrollable debt, the NFCC can provide financial counseling in-person, by phone, or online. To reach a certified financial counselor, visit www.nfcc.org.

Source: NFCC

Published with permission from RISMedia.


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