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

Residents Facing Earthquake Risk Should Bolster Insurance

February 10, 2015 1:48 am

Earthquake insurance provides protection from the shaking and cracking that can destroy homes and personal possessions. Earthquakes are not covered under standard homeowners insurance policies, but coverage is usually available in the form of a supplemental policy, according to the Insurance Information Institute (I.I.I.).

Coverage for other kinds of damage that may result from earthquakes, such as fire and water damage due to burst gas and water pipes, is generally provided by standard homeowners and renters insurance policies.

Earthquake insurance carries a deductible, generally as a percentage rather than a dollar amount. Deductibles can range anywhere from 2 to 20 percent of the replacement value of the structure. This means that if it costs $100,000 to rebuild a home and there was a 2 percent deductible, the owner would be responsible for the first $2,000 dollars. Insurers in states with a higher risk of earthquakes often set minimum deductibles at around 10 percent. In most cases, consumers can get even higher deductibles to save money on earthquake premiums.

Source: I.I.I.

Published with permission from RISMedia.


Be Wary of Phantom Debt Scams

February 9, 2015 1:48 am

A recent National Consumers League (NCL) analysis of more than 10,000 consumer complaints submitted in 2014 underscores a very real issue: “refund and recovery,” or phantom debt scams.

The predominant version of the “refund and recovery” scam involves a fraudster contacting a consumer claiming to be collecting unpaid debts. If the consumer questioned the debt, the scammer frequently threatened them with jail time, legal action or other consequences. Fake check scams, Internet merchandise scams and bogus prizes/sweepstakes scams are also common.

“Fraud remains one of the most pernicious threats facing consumers today,” said NCL Executive Director Sally Greenberg. “We are particularly concerned about scammers increasingly relying on the ‘old-fashioned’ telephone as a way to reach millions of potentially vulnerable consumers.”

The telephone was reported by nearly 43 percent of complainants as the way that they were first contacted by a scammer, ahead of the Web (almost 31 percent), email (almost 16 percent) and postal mail (almost 7 percent).

“Credit card transactions are a safer way for consumers to pay for products since they can dispute fraudulent charges with their credit card company,” said John Breyault, NCL Vice President of Public Policy, Telecommunications and Fraud. “Unfortunately, when a fraud victim sends money via wire transfer or prepaid debit card, the chances of getting their money back are much lower.”

Source: NCL

Published with permission from RISMedia.