Protecting Your Home

Home Disaster – It Could Happen to You

I have no idea what is going on with the weather around here. First, we start the year with a record number of snow storms and now the rain. What are we supposed to do? We need to be prepared for whatever weather comes our way.

How can you prepare?

Start by talking with your insurance company and/or agent and discuss what your insurance covers and what it doesn’t. You should be doing this every couple of years. If you can’t remember the last time you did this, then it’s time. You may find that you need to add or increase certain coverage. You should also discuss flood insurance. It doesn’t cover everything and usually has a high deductible, but you might regret not having it.

Next, do you have emergency supplies in your home? If you lose power, do you have lanterns (better than candles and not a fire hazard), battery operated items (radio, can opener ) barbeque grill for cooking, full tank of gas for your car (gas stations can’t pump gas without power), emergency cash on hand, etc. Do you know where these items are? I keep mine all together in one basket.

If you had to evacuate your home in a short period of time, do you know what you would need to take with you? You should have your important papers and records in one easy-to-grab place so you can get out fast.

Being prepared ahead of time makes it easier to ride out a storm in comfort or evacuate your home quickly.

Replace an Appliance using the Federal Rebate Program

Have you been thinking about replacing an appliance for another more efficient one? Were your appliances damaged in one of the storms this spring? Now may be a good time to make a purchase.

Connecticut is one of 14 states participating in the Energy Efficient Appliance Rebate Program The Federal Government gave Connecticut $3.4 million to use for this program The program started January 25, 2010 and will run out when the funds are used up So if you are thinking about replacing that old appliance for a more efficient one or you lost one in the storm damage, this is the time to consider buying one or more.

This program is designed to stimulate the economy with sales that will help retailers and to provide you with a more efficient appliance that will lower you energy usage (therefore lower you utility bill) If you live in Connecticut, go to www.ct.gov/opm/ApplianceRebates If you live in another state, search your state government’s website for more information.

You will get the following rebates:

Clothes washer $100
Refrigerator $50
Freezer $50
Room A/C units $50*
Central Air units $500

*You are allowed one each except for room a/c where you are allowed 3.

Only buy an appliance if you can afford it, or if you know your insurance company will reimburse you for your claim Buying something you don’t need or can’t afford will not do you any good, even if you get a rebate As always, consider how you will pay for it before you buy This is one of those things that you should be able to pay for from money in your savings account This is not a good purchase for to put on a credit card and make minimum payments for years to come.

Hurricane Preparedness Week 2010

Hurricane Preparedness Week will be held from Sunday, May 23 to Saturday, May 29.

We all know we should have flashlights with new batteries, manual can opener, candles etc but do you follow the advice?

We had a bad storm this winter, a nor’easter, which can produce hurricane force winds Yes, I had all those on hand But I didn’t check them ahead of time My second flashlight didn’t work I didn’t have a cell phone charger for the car So off I went on Sunday morning to the store along with everyone else driving around, being detoured around fallen trees and power lines to find that one open store that still had what I needed.

This is my new updated storm list of what to have on hand

Working flashlight with extra batteries
Candles
Battery powered or rechargeable lantern (make sure you keep it charged)
Battery powered radio
Manual can opener
Hard wired phone you need one if you have a landline
Car chargers for your electronics cell phone, PDA etc.
Extra blankets and sweaters if you are staying in your home without heat
Wood and matches for your fireplace
Barbeque grill to cook on, or, know what restaurants are open we had a meal at the hospital restaurant since we knew they would be open when others restaurants weren’t or had a really long line to get in.
Cash, since ATM and stores need power to use a credit or debit card
Full tank of gas (not be on empty since gas stations need power to work)
Appropriate tools and equipment to repair damages and debris

Also, you need to know where you have kept each of these items so that you can find them when you need them.

Before this happens to you, please check your insurance policy to make sure you have the right coverage for the proper amount Yes, this for homeowners as well as renters Renters insurance is a small amount to pay compared to losing your personal property that the landlord’s policy doesn’t cover Contact your insurance company today and be ready for the next storm.

For more information on storm preparedness, visit www.hurricanes.gov/prepare

Energy Efficient Rebate Programs Help Replace Appliances

Many states have been affected by severe weather this spring Wind and rain can cause significant damage, not only to the structures of our homes, but our possessions inside Severe weather can cause power outages and power surges, not to mention flooding, structural damage, and fires.

If you have to replace one or more of your appliances (for any reason), you might want to see if your state offers a rebate program.

I live in Connecticut Our is one of 14 states participating in the Energy Efficient Appliance Rebate Program The Federal Government gave Connecticut $3.4 million to use for this program The program started January 25, 2010 and will run out when the funds are used up So if you are thinking about replacing that old appliance for a more efficient one, or you lost one in the storm damage, this is the time to consider buying something new.

This program is designed to stimulate the economy with sales that will help retailers and to provide you with a more efficient appliance that will lower you energy usage (therefore lower you utility bill) For Connecticut details go to www.ct.gov/opm/ApplianceRebates If you live in another state, check your state’s website for more information.

In Connecticut, you could get the following:

Clothes washer $100 rebate
Refrigerator $50 rebate
Freezer $50 rebate
Room Air Conditioning units $50 rebate
Central Air units $500 rebate

You are allowed one appliance per each home (except for room air condition units – you are allowed 3 for each home).

Only buy an appliance if you can afford it or if you know your insurance company will be reimbursing you for your claim Buying something because of a rebate or sale that you don’t need or can’t afford is not doing you any good Before you buy, consider how you will pay for it This is one of those things that you should have money in your savings account for, not put it on a credit card and make minimum payments for years to come.

How safe is a safe deposit box?

I have often told you to use a safe deposit box (SDB) to store copies of your most important paperwork. That way, if something happens to your home, you can deal with the emergency with all your paperwork intact. But people also use SDB’s for items that they consider irreplaceable, like jewelry or stock certificates. While it’s not necessarily wrong to use an SDB this way, you should be aware of the risks.

Safe deposit boxes are loss resistant, not loss proof. You can lose the contents of your SDB if something happens to the bank itself. Consider what could happen if your bank is in a fire or flood. SDB’s are typically made of metal. They are not water-proof or heat-proof, which means the contents could melt, be scorched, or water damaged. Store paper documents in a water-tight plastic bag. Keep back-up copies of flash drives or photographs. Metal items, like jewelry or antique coins, should be stored in a hard-plastic container to help prevent melting.

You should also know that you will NOT be reimbursed by FDIC for the value of jewelry or antique coins stored in an SDB. The FDIC only reimburses the cash in your bank account, not personal property.

You will also NOT be reimbursed by your renter’s or homeowner’s policy (unless you have the items insured separately.)

Finally, know that your SDB is a rental. Keep up on payments or the contents will be turned over to your state’s Unclaimed Property department. A safe deposit box is a great resource, if used wisely.

Your Savings Account is Your Emergency Fund

Your savings account is your emergency fund. How much should you have? I’m not asking about your retirement or investment fund – I’m asking about your standard savings account. You probably don’t want to hear my answer, but I believe we all should have a year’s worth of income in savings.

That amount could tide you over if you lost your job, were laid off, or had to take a medical leave of absence. In the past I might have recommended 6 months, but you may have a harder time finding a replacement job in these economic times.

So how do you save 12 months worth of income? For most people it means cutting back. Try going over your bank statements to see where the money is leaking away. Are you spending $20 a day on fast food? $100 a month on cable services? $50 on parking? I’m sure you can think of other expenses that you could temporarily go without.

On the other hand, if you’ve cut your spending to the bone and still can’t save money, then look for extra income. Try getting a part time job, or selling unwanted items for cash. If you make the extra sacrifice now, you could have a sizeable savings account in a few years – one that could save you in an emergency.

Leaking Energy Inside and Out

Reader Question: What can I do to make my home more energy efficient?

To make your home energy efficient, look to see where energy is being wasted.

If your house feels drafty, replace your old roof, windows or doors.
If your house is hot in summer and cold in winter, upgrade or replace your insulation.
If your energy bills are unusually high, you could replace your heating/cooling systems with more efficient versions which use less energy.

Making your home more efficient can reduce your monthly utility bills which could save you money in the long run.

There is a program available for a homeowner’s principle residence (not a second home or rental property) that gives tax credits for energy efficient improvements. You typically get a 30% credit from your costs (labor and material) for qualifying improvements.

The tax credit is available for 2009 and 2010 up to the sum of $1,500. If you use it all up in 2009, then you can’t use it again in 2010. Check out www.EnergyStar.gov for complete details.

You CAN Fight Mother Nature

September is here, do you know what that means? No, I’m not talking about back-to-school shopping. No, I’m not talking about taking the last vacation of the summer. I’m talking about hurricanes! According to the AOML, August, September and October are the peak months for hurricane activity on the Atlantic.

The AOML has predicted that 2008 will be an above average year. But even if you choose to ignore predictions, remember that a single hurricane is all it takes to endanger your family or rob you of your investments.

Are you prepared? Think you don’t have to worry about hurricanes? Read and find out!

Who is affected by hurricanes?

You don’t have to live in Florida or New Orleans to be affected by hurricanes. Did you know that in 1938 there was a hurricane that struck in the Northeast that left 600 dead? And, we don’t have to have a direct hit by a hurricane to suffer tremendous damage. The storm systems caused by hurricanes often cause power outages, flooding and wind damage for inland states. Don’t assume you won’t be affected. These tips will prepare you for other disasters as well, 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/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 “caller”. If your family gets separated, and cannot get to one of those locations, have one person be the one communicator between the groups to save confusion and missed calls. Make sure everyone knows the contact person’s phone number!

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 – and 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.

I certainly hope that the peak hurricane season will just “blow by us” without incident, but it never hurts to be prepared for whatever may be ahead.