Twin Cities Real Estate

HOME OWNERS INSURANCE

We all know we need to carry homeowner's insurance on our pieces of real estate.  We carry them ourselves or through the association if we are in a condo or townhouse.  We take it out at the time we purchase, and we don't think much about it after that date.  We do make our payments to the insurance company, but there is little else we do.

 

All the above is true until we have to make a claim.  Then we see how good our insurance policies are.  Few of us question if we should file the claim.  It is almost an automatic reaction to a problem to the house.  We pay the deductible and go on.  Big issues such as a loss of a roof or fire damage, should be reported to our agents.  Little things should be discussed and perhaps paid for by the owner and not claimed.

 

For a number of years now claims have been reported to a natural bureau.  These claims remain with the property.  When the home is sold and the new buyer goes to get a policy, the claims can reflect if they can get insurance and the cost. 

 

This week a buyer I am representing went to get a quote on the house he is purchasing, and at that time he learned about a fire claim for $90,000.  He was ready to not buy the house as it had not been disclosed.  Several phone calls later we learned it was a rental property the home owner owned and not the property he was purchasing.  It is still taking some undoing of paperwork to get the rates down as it is showing on this property.

 

Sellers when listing your house, it might be a good idea to review with your insurance agent the information about your property to make certain it is accurate.  In our information age, information is not always correct.

School Is In

In the spring we say school is out, should we not say school is in come fall?  Well, for many school districts school started yesterday.  I am guessing both kids and parents were ready to go back.  As a former school teacher, I always remember how hard it was on the faculty to go back to work.  Their life was not their own.  Like the kids everything was controlled by the

bell.

 

It looks good as I drive past schools to see them alive with kids on the playgrounds, buses at the curb, and things pasted on the classroom windows.  A school looks so lonely when not in use.  Schools are what form our neighborhoods.  Many neighborhoods are named after the schools that serve them.  I will have buyers seeking a house in a particular neighborhood so their children can attend school there.  It is not the structure that makes the school but the people inside, the attitude towards education, and the community that supports it.  For those of us who do not have children in school any longer, it does not mean we can take a pass on caring about that school.  It continues need  our financial support, our interest in the play and concerts, and it needs our hands.  We need to go into the classroom and help where needed.  Not all the money in the world can help when children are in need of an adult to guide them.  We can read to them, assist with math problems, help create an art project or just sit with them and care.  It takes a community and not just a parent to educate our kids.