Get a Clue on the Claims History of Your Future Home
Get a Clue on the Claims History of Your Future HomeBuying a home can be a minefield if you don’t educate yourself about the process first. Many of the savviest homebuyers don’t have a clue as to the importance of a CLUE report.
The Comprehensive Loss Underwriting Exchange (CLUE) database is maintained by ChoicePoint, one of the country's largest compilers of personal consumer data. It is designed to permit homeowner and auto insurers to exchange information about claims for loss of property, without notice to you unless required by your state. Approximately 90 percent of all insurance companies that underwrite homeowner's insurance are subscribers of the service.
www.south-riding-insurance.comActual property loss claims, as well as inquiries about coverage, are entered into this central database. When you buy a house and apply for homeowner's insurance, the insurance company can access the CLUE database and see both the past claims filed on the house and any inquiries about damages, even if no claim was ever filed. This information may cause your dream house to become an insurance nightmare if no insurer is willing to cover it. CLUE database covers properties in Loudoun County (South Riding 20152, Stone Ridge/Aldie 20105, Brambleton/Ashburn 20148) as well as Fairfax County (Chantilly 20151).
What’s more, it isn’t only your new house’s past claims that insurers examine. Your old claims could come back to haunt you. In fact, you may find that your new homeowner's policy comes with a high price tag because of the previous claim history on your old home.
So, how can you keep CLUE from blocking your ability to obtain insurance or causing you to pay higher premiums? Know your rights. CLUE reports are treated like any other credit report under the Fair Credit Reporting Act (FCRA).
According to The Privacy Rights Clearinghouse, you are entitled to:
- Obtain a copy of your CLUE report and insurance scores. Under recent amendments to the FCRA, called the FACT Act, you are entitled to one free copy of your CLUE report each year.
Be notified by the insurer if they intend to take an "adverse action" based on information in the CLUE report. Examples of adverse actions include denial of a new policy or a new policy premium that costs more because of negative factors.
- Obtain another copy of your CLUE report, in addition to the free one you are entitled to annually, if you have been denied insurance, your policy has been cancelled, your coverage has been limited, or your premiums have increased.
- Dispute inaccurate or incomplete information included in the CLUE report. ChoicePoint must investigate disputes.
- File a statement that must be included in all future reports if you are not satisfied with the investigation.
If you need to dispute information on your CLUE report, log on to the ChoicePoint site at
http://www.consumerdisclosure.com/, and follow the instructions.
Keep in mind, that when buying a home, your real estate agent will need to help you obtain a CLUE report on the property because you cannot request a report on a house you don’t own.
www.loudoun-insurance.comLabels: Centreville Homeowners Insurance, Centreville Property Insurance, Chantilly Homeowners insurance, Chantilly Property Insurance, Herndon Homeowners Insurance, Herndon Property Insurance
Is a Home Security System Right for You?
Is a Home Security System Right for You?We are a nation of conspicuous consumers, filling our homes with all kinds of electronics from computers to Wii consoles. While all of these gadgets are designed to make staying at home more fun, owning them can make your home an attractive target for burglars. According to 2006 FBI crime statistics, 66.2 percent of all reported burglaries were home break-ins. The average dollar loss per burglary offense in 2006 was $1,834. If you have a lot of expensive personal belongings, installing a home security system may be a good idea, even here in South Riding 20152 and Aldie / Stone Ridge 20105 (Loudoun County), and Chantilly 20151 (Fairfax County). Contact us via
http://www.south-riding-insurance.com/.
In addition to protecting your valuables, you may also want to consider the need to protect your family’s safety. FBI statistics show that 63.1 percent of all home burglaries in 2006 happened during the day. What would happen to you and your family if a burglar attempted to break in while you were home? Installing a home security system provides you with peace if mind, knowing that your loved ones are protected.
When you are tying to decide if you should install a security system, here are some other things you should consider:
- Are you living in a high-crime area? (usually NOT a problem for South Riding 20152, Stone Ridge / Aldie 20105, Ashburn / Brambleton 20148 or Chantilly 20151) – Long time residents in a neighborhood know the likelihood of their home being burglarized. If you live in a high-crime area, you probably need a security system. If you’ve just moved into a neighborhood, do some research to find out how high a risk there is for being burglarized so you can determine if you need additional security.
- Is your home inviting to burglars? – There are certain circumstances that mark your home as a target, such as living in a ground floor apartment, being surrounded by thick bushes and trees, having old doors and windows that are easy to break into, or living on a poorly-lit street where people are seldom around. If any of these descriptions apply to your home, you may want to consider a home security system. Fell free to connect with us at NOVA Insurance Group.
- How expensive is it to own a system? – There are a number of security systems to choose from, with a wide range of prices. Keep in mind that the more sophisticated the technology, the higher the price. However, you should be able to find something within your budget that will give you the protection you need.
- Does your homeowners insurance offer a discount if you install a system? – Most insurance companies will give you a premium discount if you install any kind of home security system. The amount of the discount will depend on the type of system you choose. If you install a home security system that has monitoring services, the discount can range up to 20 percent. Check with your insurance agent (
http://www.loudoun-insurance.com/) to see what your insurer offers.
- Are there steps you can take to minimize the need for a security system? – There are some low tech ways to burglar proof your home, such as, installing dead-bolt locks, replacing hollow doors with doors made of metal or solid hard wood, installing a wide-angle peephole in the door, replacing old or cracked windows, installing removable rods to prevent windows from being opened, and pruning bushes and trees that surround your house.
- Consider also installing Security Screens or
Alarm Screens - allowing fresh air and light in, while keeping intruders out.
National Security Screens is a reputable local provider of this type of security.
Labels: fairfax-homeowners-insurance, fairfax-property-insurance, loudoun-homeowners-insurance, loudoun-property-insurance, south-riding-homeowners-insurance, south-riding-property-insurance
Ensure Your Next Party Doesn't Turn into a Liability
Ensure Your Next Party Doesn't Turn into a LiabilityThere’s nothing like the combination of good food and good friends. Whether it’s a potluck dinner for a few of the neighbors, or a wedding for 500 guests, these are events that make memories. However, those memories could easily turn into bad ones if one of your guests leaves your home intoxicated and gets behind the wheel.
Most people are aware that businesses like restaurants and bars have legal obligations to stop serving alcohol to visibly intoxicated patrons. But you may not be aware that in some states, individual hosts also have legal responsibilities when it comes to serving alcohol. Legislation called “social host” laws makes you responsible for the actions of your inebriated guests after they leave your party venue. Currently, 33 states and the District of Columbia have social host laws according to Mothers Against Drunk Driving (MADD). One needs to pay special attention to similar laws, even here in South Riding (20152), Chantilly (20151), Aldie and Stone Ridge (20105) and Brambleton (20148), all located in Fairfax and Loudoun Counties.
www.south-riding-insurance.comThere are specific circumstances that must be present for a social host to be liable for the injury or damage caused by an intoxicated guest:
- They were aware, or should have been aware, that the guest who caused the injury/damage was intoxicated.
- They knew that the guest who caused the injury/damage would be driving after they left the gathering.
- There are some ways to protect yourself from liability if you do serve alcohol at your next party:
- Stop serving alcohol after a couple of hours and serve coffee instead.
- Make sure there is plenty of food available for your guests to eat while they are drinking.
- Have designated drivers to take intoxicated guests home.
- Keep a list of cab companies’ phone numbers by the telephone so that it is accessible if you need to call a cab for a guest who shouldn’t drive.
- Remain sober so that you can monitor your guests’ sobriety level.
- Another good way to protect yourself from liability is to check your homeowner's policy before your next party to determine what your coverage is for property damage and liability. In the event of an incident, your homeowner's policy would pay for covered liabilities up to the policy limit. You should also consider purchasing a personal liability umbrella policy for increased protection.
- Apartment dwellers and owners of condos and co-ops typically aren’t covered for liability and personal property damage under their building’s insurance policy. Generally, the building policy only covers the common areas. That’s why renters should have renter's insurance, and condo and co-op owners should purchase a HO-6 homeowner's policy that is specifically designed for their needs. They should also review their condominium or co-op association's master policy to determine what their responsibilities are in the event of an incident.
If you hire professional caterers and bartenders for your event, don’t assume that you are covered under their liability insurance. You must be specifically named on the policy to be covered in the event of an accident. However, if you are named on your party professionals’ liability policy, their insurance company will defend you if you are sued. That’s why it’s important to verify that they have liability insurance, the specific situations that are covered, any exclusions, and if you can be a named insured on the policy.
www.loudoun-insurance.comLabels: fairfax-homeowners-insurance, fairfax-property-insurance, Loudoun Property Insurance, loudoun-homeowners-insurance, South-Riding property insurance, south-riding-homeowners-insurance
