Protecting Your Home

Getting Ready for Winter

As I write this post the temperature is 51°, the winds are howling and we are expecting 2 -3 inches of rain. By tonight it will be in the 20’s. Hard to believe that winter doesn’t officially start for another few weeks.

Here are some of the things that we do to our cars and homes before the winter weather sets in:

For the car

Check the tire pressure for safe winter driving

Replace old wiper blades. You want blades that work in snow, sleet and cold heavy rains

Have the battery checked. There is nothing worse than having a dead battery in the middle of winter.

Get the oil changed

Add dry gas to your tank the next time you fill up

Make sure to carry a break down kit in just in case you get stuck on the road. North Dakota’s Department of Transportation has a good list.

For the home:

Make sure you have working smoke detectors and carbon monoxide detectors with new batteries

Have your heating systems checked and cleaned

Have your gutters and down spouts cleared after the leaves are down.

Have your trees trimmed, removing any limbs that might be dangerous. Your insurance may cover fallen limbs but that won’t protect you from physical injury or power outages.

Have your roof examined before the snow builds up on it.

If you have a fireplace or wood burning stove, have your chimney cleaned.

Be prepared so you can stay safe for whatever the winter season brings.

Fair Weather Insurance is Useless in a Storm

Ugh, weather, am I right? It’s been strange in my corner of Connecticut – too cold, too hot, too snowy, and too stormy. Is it just me, or did the weather used to be mild and predictable in this state?

Spring and summer 2013 brought us wildly swinging temps and record-breaking rains. In the past few years we’ve endured major devastation from hurricanes, multiple snow storms, and tornadoes. And that’s just our corner of the world. It’s been tough all over.

You know you should have insurance to cover these disasters, don’t you? Contact your insurance company regularly to see if your most recent purchases and improvements are on your policy.

Once you have the right coverage, make sure you can prove that you actually had stuff that was worth an insurance claim. It’s not enough to say “I had a big screen TV. It was right there before the hurricane took down the north wall.”

You should have…

Photos or videos of valuable belongings with multiple views. Do front, side, and back with close-ups of identifying words or numbers like serial numbers, make, model and even the artist’s signature on artwork.

Original receipts with scanned copies for safekeeping. Try to keep proof of the date purchased, the store or website, and serial numbers if applicable.

Appraisals for valuable items such as artwork, jewelry, collectibles, and home improvements.

If you’re not sure, ask your insurance company to tell you how they want you to document your stuff.

Don’t think you’re safe just because you have homeowner’s insurance. Basic policies are the least expensive option because they don’t cover high risk items or types of damage. Are you covered for floods or tornadoes? Is your fence, pool, or home addition covered?

Be prepared to purchase additional coverage if the excluded items are valuable to you. And update your policy annually as new items are purchased and old items are removed.

Keep your proof of ownership in a safe place! And keep it in more than one place!

Sure, keep a copy at home or on your computer. But nature will laugh at your flimsy paper and fragile hardware. They’re no match for a flood, fire or tornado.

Keep a copy off site (safe deposit boxes, clouds, the insurance company itself, etc.) Being prepared will save you countless wasted and tearful phone calls with your insurance agent if disaster strikes.

Keep Your Savings Accounts Away from the ATM

savings-atm-1

One thing I’ve learned over the years is not to have my savings account linked to my debit / ATM card. If I want to make an impulse purchase, I have to put some thought into it and move money either online or at the bank. This delay gives me time to talk myself out of wasting my savings on something I don’t really need.

An added benefit to keeping your accounts separate, is that if your debit card is stolen, the thief cannot access the money in your savings.

You’ll have to prove it. Make sure you have the paperwork.

Things that mean very little in a court of law:

Your memories
Your mother’s memories
Your friends opinions
Photos of you smiling with some of your stuff in the background.

What am I getting at? I want you to face the fact that paperwork is part of life.

You can have a lot of wonderful things without legal documents: love; a nice meal; a beautiful sunset. But, you can’t get legally married, register the birth of your child, or insure your home without them. So, if you’re basking in the glow of a beautiful sunset in your own backyard, enjoying a barbecue, and surrounded by family and friends – there was paperwork involved.

Don’t slack on it. Strive to keep it up-to-date on an annual basis. Neglecting your paperwork can be just as bad for your family life as neglecting a loved one’s birthday.

Go through your files and check up on your:

Life insurance
Long Term Care insurance that may combine with life insurance
Retirement accounts – IRA’s, 401K / 403B, Roth IRA’s
Savings bonds
Bank accounts that are payable on death
Investments (stocks, bonds etc)

Legal documents are too often overlooked and the results can be devastating. Who’s in charge of your stuff if you suddenly pass away. If you haven’t updated your paperwork, you may have left everything to an unreliable friend, or a deceased parent instead of your spouse or adult child. In this case, I suggest that you name a second beneficiary. For our wills, we even have a third beneficiary. My attorney suggested this and it’s terrific. When my father passed away, I didn’t have to update my will. My second choice was already in place. How easy was that?

I know you’re busy, but when you, or your family, are dealing with a major life crisis, you won’t want to spend time thinking about these things. Make a habit of reviewing your important documents on a regular basis so your loved ones will receive the things you labored to give them.

If you need more convincing, check out this ABC news story

Of Breakups and Closed Accounts

In our last issue, we discussed whether you should blend your finances when you get into a relationship. Money will be your biggest source of friction, and having boundaries doesn’t hurt. I listed some of the different financial relationships couples choose. There are different options besides “What’s mine is mine and never ‘ours’ or “It’s all or nothing or I’m out of here.”

Sometimes your best efforts to create a life together fail, and the relationship ends. Today, we’ll discuss how to unblend your finances. Whether you decided to share all of your accounts, or only share expenses, you should separate your finances as soon as possible, because you can be sure that someone’s name is on the wrong paperwork.

Take a look at your…

Rent or Mortgage: Who is on the lease agreement or loan? It should be the one who actually lives there. Ignore that piece of wisdom and risk having your home sold out from under you.

Utilities, cable, and cell phone: Whose name is on the accounts? They should be in the name of the person using them. If you don’t transfer ownership, you could have your utilities cut off without notice.

Insurance: This includes car, apartment, home, life, and medical. You don’t want to be without insurance, and you don’t want your money going to the wrong person if you don’t update your beneficiaries.

Credit cards and loans: Do you want to have your credit affected by charges that aren’t yours, or be forced to make payments on a car you don’t use?

“But Jill,” you say, “these all sound like things that happen in a hostile breakup. We’re not like that.” Even if your breakup is friendly, and your ex is as trustworthy and competent as a super hero’s alter ego, you still need to separate your accounts to protect yourself in case something happens to one of you. If one of you dies, or is mentally incapacitated, the law won’t recognize verbal agreements or promises. They only see whose name is on a piece of paper.

Let’s talk about verbal agreements. Let’s say the house and car loan are in your name, but you want to be nice. You don’t need them, and your ex does. Your ex has agreed to make payments, so it’s no big deal, right?

Wrong. Your credit will take a hit with the first missed, or late, payment. And, you may not be able to get a new car or house for yourself because your debt to income ratio is too high. The bank won’t take verbal agreements with your ex into consideration when you apply for your loan.

Here’s something else to think about: Can you maintain your current lifestyle if you live separately?

If you end up with the house or the car, can you afford the payments? Can you pay for the utilities, the maintenance and the insurance? You may have to make tough decisions, because you could be without the things you need to live if you don’t plan ahead.

Too many people have found themselves temporarily homeless, or had their credit ruined, after a breakup. Don’t let this happen to you.

Prepare for Summer Storms

We’ve already had extensive damage from severe storms on the East Coast and across the Midwest. These storms caused power outages that lasted for days in the middle of a record-breaking heat wave and cancelled 4th of July celebrations.

Be Prepared for a Power Outage

A big storm can knock your power out for days. And, you really don’t want to be shopping for supplies during or after the storm when everyone else is trying to buy the same emergency supply items.

Make a list and stock up on a sunny day with no storms in sight. Here are some suggestions:

Keep extra batteries for your flashlight and radio
Have propane or charcoal for your grill so you can cook outside if needed
Fill up your gas tank before the storm (gas stations need power to pump gas)
Keep some cash on hand (Banks / ATM need power too)
Turn up the temperature on your refrigerator and freezer when a storm is predicted (remember to turn them back down after the storm)

Most importantly, be prepared to live without the modern conveniences that we have all gotten used to. You won’t have small appliances to heat up frozen meals or electricity for news and entertainment.

Be Prepared to Evacuate

Evacuation isn’t just for hurricanes. You should arrange a place to stay in case you have to leave during the storm. Think of conditions that could make your home unsafe, like flooding, fallen power lines, or structural damage from wind and falling trees. You’ll need to stay someplace close so you can get to work and manage repairs. If your closest relative lives 200 miles away that won’t be much help, and the closest undamaged hotels will be booked quickly.

Be prepared. It will make it easier for you to ride out the storm.

Prepare for Winter Now While the Leaves Are Still Falling

Summer has ended and we are now into Fall. Do you know what that means? There are important preparations to make! Yes, of course, you need to rake, and bake, and make costumes, and shop for the holidays. But isn’t there something you’re forgetting?

You need to prepare your home for winter weather! Those of us in Connecticut have seen unusual weather this year: earthquake, tornados, hurricane, not to mention feet of snow… and 2011 isn’t over. I hate to think how much snow we’ll get this year.

Here are several things you might want to do before winter sets in and why you should do them:

Have your heating system cleaned and tuned up for winter

Why? It may seem counterintuitive. How can paying for a tune-up save you money? For starters, it’s much more expensive to replace or repair a furnace. And, obstructions and dirty vents can reduce your energy savings. That’s not to mention the dangers of carbon-monoxide poisoning. Check to see if your utility offers a free annual checkup.

Seal up any drafts from windows or doors.

Why? Leaks cost you money, every day, every minute that your furnace is running. Our front door developed a crack in the wood that we repaired to seal up the draft. If you need to replace windows and doors, check to see what energy tax credits are available to you.

How do you check for drafts? Here’s a fun trick: Have someone aim a hair dryer from outside while you hold a lighted candle inside – carefully! If the flame moves or goes out, you know you have a heat leak.

Have your roof inspected for leaks before the snow piles up (we should have done this last year)

Why? Learn from my failure. You don’t want to deal with a roof repair in winter. Trust me on this.

Have your chimney inspected.

Why? Chimney bricks are more exposed to the elements and quicker to crack than the bricks on your walls. They’re also difficult to repair in winter because the cement mixture that holds them together needs to dry. You don’t want to cope with water damage in February when it can be prevented with an inspection in October.

Trim trees and bushes (or remove them)

Why? What do you see after every single snow storm? Photos of damaged property from fallen limbs and trees. Taking care of dead or weak branches can help protect your home.

Let me know what you are planning on doing for your home.

How to Prepare for a Summer Power Outage

It’s summer – hurray! But with summer comes the possibility of storms and power outages. This has been a year of unpredictable weather. Are you prepared for whatever comes next?

These are things we have to think about.

Batteries: Needed for flashlights and/or lanterns, battery operated radio, etc.
Water: If you have well water, have water stored in containers (both drinking and for washing). Your pump will not work without electricity.
Non-perishable food: We all have some canned food, but could you make a meal with it? Do you have a manual can opener to use when the power is out?

The difference between winter and summer storms is the outside temperature. With this being summer, you have to think about preserving and using the food in your refrigerator and freezer.

How long will it last?
Do you have grill supplies handy to grill the food if necessary?
Do you own a cooler to store food if need be?

If you hear of a possible storm coming, take precautionary steps before it strikes.

Turn up the temperature in the fridge and freezer (food will last longer).
Fill up the gas tank on your car (gas stations can’t pump gas without electricity).
Get cash (if there are stores open they may not be able to accept credit cards).
Charge your electronics
Get bottled water if needed and be prepared to live without life’s conveniences.

The more you do to prepare, the better you will be able to weather the storm in your own home.

The Importance of Paperwork in a Life or Death Emergency

Are you prepared to handle anything life throws at you? This can include anything from an immediate crisis to a major life hurdle. Take a good look at your life and think about some of the situations I am talking about, and think about what you would need to do in your life to be prepared.

If we have to evacuate or run for cover, take this folder…

If you had to leave your home within a short amount of time (storm approaching, fire, flooding etc.) would you know what important papers to take with you? Could you gather all of them in 30 minutes or less? This should be a goal of yours, to have your papers organized and ready so you only have to grab one container (a hard drive, a file box, or a folder) – and go. In addition, what about those personal items that are irreplaceable? Could you grab those, too?

If something happens to me, you know what to do…

What if the person who handles the finances passes away? Would anyone else know where all the financial records are? Do you know where all your assets are? Do you know what liabilities you are responsible for? In many families, one person handles everything. Both people should know what is going on – just in case. That’s especially true for the paperless households who do everything online. More than one person must be able to access all of the accounts because there won’t be a file cabinet to sort through.

If you are prepared and organized ahead of time, it will make life much easier for you. Start to think about this today and make a plan that works for your situation. Being ready and knowing what you should do will save you so much time and effort if you find yourself in a bad situation.

How to Prepare for a Weather Disaster

The first four months of this year have provided all sorts of weather challenges all over the country. We started the year off with record breaking snow storms, in April, there were major tornadoes (over 300 in one day), and now flooding. What is going on with this weather?

Are you prepared for whatever weather disaster comes next? Read and find out!

There is more to worry about than the actual storm. You could experience long term affects like power outages, flooding, wind damage, and more. Don’t assume that you won’t experience a weather disaster just because it has never happened in your area before.

These tips will prepare you for any kind of disaster, so read on.

Do you have proper insurance coverage? When was the last time you discussed your policies or updated them with your insurance company or agent? It could be well worth your time to do this in the next couple of weeks. While you’re there, you should also ask about umbrella coverage if you don’t have it already. As the name implies, this is a general purpose policy which provides additional protection above and beyond your existing policies. It is a relatively low cost insurance that can make a huge difference if you have to file a claim.

Do you have a well thought-out evacuation plan? You can’t use a general plan created by someone else. Personalize yours to fit your needs. Here are some things to consider:

Exit Strategy: Make sure everyone knows the quickest way to get out of the house in case of fire or other natural disaster. Seconds really do count!
Meeting Place: Have an agreed-upon meeting place. The quicker you can do a headcount, the quicker you can move to locate anyone who didn’t make it out. Have 2 meeting place locations. One right outside your home (sidewalk or driveway) and the other off your property (friend’s house, library, or school).
Contact Person: Specify one person to be the call receiver. If your family gets separated, and cannot get to one of those locations, the separated parties should text or call the main contact. This will save confusion and missed calls. Make sure everyone knows the contact person’s phone number or has it stored in their cell phones!

Do You Know How to Prepare for a Storm? Here are a few other general tips for you to think about. If a storm is forecast, make sure you:

Have a full tank of gas. Gas stations can’t pump gas if the power is out.
Secure your outdoor items so that they will not become airborne and injure you or someone else.
Stock your disaster supply kit. In a serious storm, this could be well worth the effort. Include drinking water (at least one gallon of drinking water per person per day), food (canned, dry and other non-perishables which don’t require cooking, water, or special preparation – don’t forget a manual can opener), prescriptions and medications (three day supply recommended), first aid kit, flashlights, battery-powered lanterns, and AM/FM radio plus extra batteries.
Prepare a pet supplies bag. Don’t forget your pets! They’ll need food, water, medications, and leashes.

This way you will be ready for whatever weather comes next. Is there something else that you do that I didn’t include? Tell me in the comments section.