homeowners insurance

Don't Let ACV Ruin Your Homeowners Insurance Claim - Here's What You Need to Know

Don’t Let ACV Ruin Your Homeowners Insurance Claim – Here’s What You Need to Know

Posted on by Shield Insurance Agency

Shield Insurance Blog | ACV | Homeowners Insurance | Start A Quote Today!

When it comes to homeowners insurance claims, understanding the concept of actual cash value (ACV) is crucial. ACV plays a significant role in determining the amount of reimbursement you will receive for your property damage. In this blog post, we will delve into the impact of ACV on insurance claims, the difference between actual cash value and replacement cost, and how depreciation factors into the equation.

What is ACV?

Firstly, let’s define actual cash value. ACV is the value of an item or property at the time of the loss, taking into account its age, wear and tear, and depreciation. It is calculated by subtracting the depreciation from the replacement cost. For example, if your five-year-old television is damaged in a fire, the ACV would be the cost of a new television minus the depreciation for the five years of use.

ACV or Replacement Cost?

When filing a homeowners insurance claim, the insurance company will typically offer two options for reimbursement: actual cash value or replacement cost. ACV coverage takes into account the depreciation of your property, while replacement cost coverage provides reimbursement for the full cost of replacing the damaged item with a new one.

The choice between actual cash value and replacement cost coverage can have a significant impact on the amount of money you receive from your insurance claim. ACV coverage may result in a lower payout, as it factors in the depreciation of your property. On the other hand, replacement cost coverage offers a higher payout, but it often comes with higher premiums.

Understanding ACV in insurance claims is essential because it affects the overall coverage of your homeowner’s insurance policy. If you opt for actual cash value coverage, you may receive less money for your damaged property, which could make it challenging to replace or repair it fully. However, if you choose replacement cost coverage, you will likely receive a higher payout, allowing you to replace your damaged property with a brand-new one.

Depreciation plays a crucial role in determining the ACV of your property. Over time, all items experience wear and tear, which leads to a decrease in their value. Insurance companies take this into account when calculating the actual cash value of your damaged property. For example, if your roof is damaged in a storm, the insurance company will consider the age and condition of the roof before determining the ACV.

ACV also affects the reimbursement process in homeowners insurance claims. If you have ACV coverage, the insurance company will initially provide you with the actual cash value amount for your damaged property. However, once you replace or repair the damaged item, you may be eligible for additional reimbursement. This process is known as recoverable depreciation. It allows you to receive the difference between the actual cash value and the actual cost of replacement or repair.

Settlement in insurance claims is another area where actual cash value comes into play. When negotiating a settlement with your insurance company, understanding the actual cash value of your damaged property is crucial. It helps you determine whether the settlement offer is fair and reasonable. If you believe the offer does not adequately compensate you for the ACV of your property, you can negotiate for a higher payout.

Property valuation is also influenced by ACV in insurance claims. Insurance companies use actual cash value to determine the value of your property when calculating your premiums. If your property has a higher actual cash value it may result in higher premiums. Therefore, understanding the actual cash value of your property can help you make informed decisions when choosing a homeowners insurance policy.

Lastly, the claim payout in homeowners insurance is directly affected by ACV. If you have actual cash value coverage, the insurance company will reimburse you based on the actual cash value of your damaged property. This means that you may receive a lower payout compared to replacement cost coverage. However, it is important to note that ACV coverage often comes with lower premiums, making it a more affordable option for many homeowners.

In conclusion, actual cash value (ACV) plays a significant role in homeowners insurance claims. It affects the overall coverage of your policy, the reimbursement process, settlement negotiations, property valuation, and the claim payout. Understanding actual cash value and its impact on insurance claims can help you make informed decisions when choosing a homeowners insurance policy.

If you have any further questions or need assistance with your insurance needs, Shield Insurance Agency represents over 40 insurance companies and can provide you with a free quote. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon.

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What You Need to Know About Condo Insurance vs. Homeowner Insurance

What You Need to Know About Condo Insurance vs. Homeowner Insurance

Posted on by Shield Insurance Agency

Shield Insurance Agency Blog | Condo Insurance | Homeowner Insurance | Start A Quote Today!

When it comes to protecting your property, having the right insurance coverage is crucial. Whether you own a condo or a house, it’s important to understand the differences between condo insurance and homeowner insurance. In this blog post, we will explore the key distinctions between these two types of insurance and help you make an informed decision about which one is right for you.

Condo Insurance vs. Homeowner Insurance: Understanding the Differences

1. Condo Insurance vs Homeowner Insurance Coverage:

Condo insurance typically covers the interior of your unit, personal belongings, and liability. It may also provide coverage for any improvements or upgrades you have made to your unit. On the other hand, homeowner insurance covers the structure of your house, personal belongings, liability, and additional structures on your property, such as a garage or shed.

2. Condo Insurance vs. Homeowner Insurance Policy:

Condo insurance policies are designed specifically for condo owners and take into account the unique aspects of condo living. Homeowner insurance policies, on the other hand, are tailored for homeowners and their specific needs. It’s important to choose a policy that aligns with your living situation to ensure you have the right coverage.

3. Condo Insurance vs. Homeowner Insurance Premiums:

Insurance premiums for condo insurance are typically lower than homeowner insurance premiums. This is because condo insurance only covers the interior of your unit, while homeowner insurance covers the entire property. The cost of your premiums will depend on various factors, such as the value of your property, your location, and your insurance history.

4. Condo Living:

Living in a condo comes with its own set of advantages and challenges. Condo owners often benefit from shared amenities, such as a pool or gym, but they also have to deal with condo association fees and rules. Condo insurance takes into account these unique aspects of condo living and provides coverage that is tailored to your needs as a condo owner.

5. Insurance Comparison:

When comparing condo insurance and homeowner insurance, it’s important to consider your specific needs and circumstances. If you own a condo, you may not need coverage for the exterior of your unit or additional structures on the property. However, if you own a house, these aspects become crucial. Take the time to evaluate your insurance needs and compare different policies to find the one that offers the best coverage for your situation.

Choosing the Right Insurance for Your Property

Whether you own a condo or a house, having the right insurance coverage is essential. It protects your investment and provides peace of mind in case of unexpected events. To ensure you have the right coverage, consider the following steps:

1. Assess Your Needs:

Evaluate your property and determine what type of coverage you require. Consider factors such as the value of your property, the location, and any unique features or risks associated with your property.

2. Research Insurance Companies:

Look for insurance companies that specialize in condo insurance or homeowner insurance. Consider their reputation, customer reviews, and the range of coverage options they offer.

3. Get Multiple Quotes:

Obtain quotes from different insurance companies to compare coverage options and premiums. This will help you make an informed decision and find the best insurance policy for your needs.

4. Consult an Insurance Agent:

If you’re unsure about the type of coverage you need or have specific questions, it’s always a good idea to consult an insurance agent. They can provide expert advice and guide you through the process of selecting the right insurance policy.

Shield Insurance Agency: Your Trusted Insurance Partner

At Shield Insurance Agency, we understand the importance of having the right insurance coverage for your property. As an independent agency, we represent over 40 insurance companies, allowing us to find the best coverage options at competitive prices. Whether you need condo insurance or homeowner insurance, our experienced agents are here to help.

Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon. Don’t leave the protection of your property to chance – trust Shield Insurance Agency to find the right insurance coverage for you.

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What if the unthinkable happens? Unveiling the truth about Homeowners Insurance and Nuclear Explosions!

Unveiling the truth about Nuclear Explosions and Homeowners Insurance. What if the unthinkable happens?

Posted on by Shield Insurance Agency

Shield Insurance Blog | Nuclear Explosions | Home Insurance | Start A Quote Today!

In today’s uncertain world, it’s natural to have concerns about potential disasters and their impact on our homes. One such catastrophic event that often comes to mind is a nuclear explosion. Homeowners insurance is designed to protect our homes from various risks, but does it cover the aftermath of a nuclear disaster? In this blog post, we will explore the topic of homeowners insurance coverage in the event of a nuclear explosion. Read on to find out if your insurance policy provides the necessary protection and what steps you can take to ensure your home’s safety.

Understanding Homeowners Insurance Coverage

Homeowners insurance is a crucial investment that provides financial protection against a range of perils, including fire, theft, and natural disasters. However, the coverage provided by insurance policies can vary significantly. While most policies cover common disasters like fires and storms, the question of whether homeowners insurance covers a nuclear explosion is more complex.

Coverage for Nuclear Explosions

Unfortunately, the majority of standard homeowners insurance policies do not explicitly cover nuclear explosions. This is because nuclear disasters are considered high-risk events that can cause widespread damage and have long-lasting effects. Insurance companies typically exclude coverage for nuclear threats due to the immense financial burden they would face if such an event were to occur.

Specialized Insurance Policies

Although homeowners insurance may not cover nuclear explosions, there are specialized insurance policies available that can provide coverage for such catastrophic events. These policies, often referred to as “nuclear disaster insurance,” are designed to protect homeowners in the event of a nuclear explosion or radiation-related damage. It’s important to note that these policies are not widely available and may come with specific terms and conditions.

Filing an Insurance Claim from Nuclear Explosions

In the unfortunate event of a nuclear explosion, it is crucial to understand the steps involved in filing an insurance claim. While homeowners insurance may not cover the direct damage caused by a nuclear blast, it may provide coverage for secondary damages, such as fires or structural damage resulting from the explosion. It is essential to review your insurance policy carefully and consult with your insurance agent to understand the extent of your coverage and the process for filing a claim.

While homeowners insurance may not cover a nuclear explosion directly, it is still a vital component of home protection. Understanding the limitations of your insurance policy and exploring specialized coverage options can help ensure that you are adequately prepared for any disaster. Remember to review your policy regularly, ask questions about coverage, and consider additional insurance options to safeguard your home and loved ones.

For comprehensive homeowners insurance coverage and expert advice, contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon. Stay informed, stay protected!

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Hail Damage and Homeowners Insurance: What You Need to Know to Stay Protected

Hail Damage and Homeowners Insurance: What You Need to Know to Stay Protected

Posted on by Shield Insurance Agency

Shield Insurance Blog | Hail Damage | Homeowners Insurance | Start A Quote Today!

When it comes to protecting your home, having the right homeowners insurance policy is crucial. Your home is likely one of your biggest investments, and you want to ensure that it is adequately protected in the event of any unforeseen circumstances. One such circumstance that can cause significant damage to your property is a hailstorm. But the question remains, is hail damage covered on your homeowner’s insurance policy?

Hail Damage Coverage

The answer to this question may vary depending on your specific insurance policy and coverage. However, in most cases, hail damage is indeed covered by homeowners insurance. This coverage typically falls under the category of weather damage or property damage. It is important to review your insurance policy carefully to understand the extent of coverage provided for hail damage.

Hailstorms can cause a wide range of damage to your home, including roof damage, broken windows, dented siding, and damaged outdoor structures. The cost of repairing or replacing these damaged areas can quickly add up, making it essential to have the right insurance coverage in place.

Hail Damage Claim

When filing an insurance claim for hail damage, it is important to document the extent of the damage thoroughly. Take photographs and videos of the affected areas, and make a detailed list of all damaged items. This documentation will help support your claim and ensure that you receive the appropriate compensation for repairs or replacements.

It is also worth noting that some insurance policies may have specific exclusions or limitations when it comes to hail damage coverage. For example, certain policies may only cover hail damage if it exceeds a certain size or if it causes significant structural damage. It is crucial to review your policy carefully and consult with your insurance agent to fully understand the coverage provided.

To ensure that you have the best possible coverage for hail damage, it is advisable to work with a reputable insurance agency. Shield Insurance Agency, for instance, represents over 40 insurance companies and can help you find the right policy to suit your needs. Their experienced agents can guide you through the process of selecting the appropriate coverage and answer any questions you may have.

If you are unsure about your current homeowner’s insurance policy or are considering purchasing a new one, it is always a good idea to reach out to an insurance agent for a free quote. Shield Insurance Agency offers this service and can provide you with a personalized quote tailored to your specific needs. You can contact them at (616) 896-4600 or start the quoting process by visiting their website and filling out a form. An agent will be in touch with you soon to discuss your options.

In conclusion, hail damage is typically covered by homeowners insurance policies. However, the extent of coverage may vary depending on your specific policy and its limitations. It is crucial to review your policy carefully and consult with an insurance agent to ensure that you have adequate coverage for hail damage. Shield Insurance Agency represents over 40 insurance companies and can help you find the right policy to protect your home. Contact them today for a free quote and start the process of securing the coverage you need.

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Homeowners Beware: Unveiling the Truth About Insurance Cancellations After Multiple Claims

Homeowners Beware: Unveiling the Truth About Insurance Cancellations After Multiple Claims

Posted on by Shield Insurance Agency

Shield Insurance Blog | Insurance Cancellations | Homeowners Insurance | Start A Quote

Homeowners insurance is a crucial aspect of protecting your most valuable asset – your home. It provides financial coverage in the event of damage or loss caused by various perils such as fire, theft, or natural disasters. However, many homeowners wonder if their insurance carrier can cancel their policy after filing multiple claims. In this blog post, we will explore the topic of homeowners insurance cancellation and shed light on the consequences of filing multiple claims.

Certain Circumstances lead to Insurance Cancellations

Insurance carriers have the right to cancel a homeowners insurance policy under certain circumstances. However, the decision to cancel a policy is not solely based on the number of claims filed. Insurance carriers consider various factors before making such a decision, including the claim history, claim frequency, and the nature of the claims.

While there is no specific rule stating that an insurance carrier can cancel a policy after three claims, it is essential to understand that frequent claims can raise red flags for insurance companies. Insurance carriers may view multiple claims as an indication of a higher risk associated with the insured property. This increased risk may prompt the carrier to reassess the policy and potentially cancel it.

Insurance Cancellations Based on Claims History

Insurance carriers typically review the claim history and frequency when considering policy cancellation. If a homeowner has a history of filing numerous claims within a short period, it may lead to the cancellation of their policy. However, it is important to note that each insurance carrier has its own guidelines and policies regarding claim limits and cancellations. Therefore, it is crucial to review your specific policy and consult with your insurance agent to understand the terms and conditions.

Insurance Cancellations for Perils

In some cases, insurance carriers may not cancel the policy entirely but instead choose to terminate coverage for specific perils. For example, if a homeowner has filed multiple claims related to water damage, the insurance carrier may decide to exclude coverage for water-related incidents in the future. This means that any future claims related to water damage will not be covered under the policy.

Insurance carriers may also deny coverage for certain claims if they believe the homeowner has violated the terms and conditions of the policy. For instance, if a homeowner fails to maintain the property adequately, resulting in damage, the insurance carrier may deny the claim and potentially cancel the policy.

It is important to understand the consequences of having your homeowner’s insurance policy canceled. Without insurance coverage, you will be responsible for any future damages or losses to your property. Additionally, having a canceled policy can make it challenging to obtain coverage from other insurance carriers in the future. Insurance companies may view a canceled policy as a red flag and consider you a higher risk, resulting in higher premiums or even denial of coverage.

To avoid the potential cancellation of your homeowner’s insurance policy, it is crucial to be mindful of your claim frequency and take steps to prevent unnecessary claims. Regular maintenance and upkeep of your property can help minimize the risk of damage and reduce the need for filing claims. Additionally, understanding your policy’s claim restrictions and exclusions can help you make informed decisions and avoid potential claim denials.

If you find yourself in a situation where your homeowner’s insurance carrier is considering canceling your policy, it is essential to know your rights. Insurance claim disputes can be complex, and it is advisable to seek legal advice if you believe your insurance carrier is acting unfairly. Understanding your rights and the claim settlement process can help you navigate through any potential disputes and ensure a fair resolution.

In conclusion, while there is no specific rule stating that an insurance carrier can cancel a homeowners insurance policy after three claims, frequent claims can raise concerns for insurance companies. Insurance carriers consider various factors before making a decision, including the claim history, claim frequency, and the nature of the claims. It is crucial to review your specific policy and consult with your insurance agent to understand the terms and conditions. Taking steps to prevent unnecessary claims and understanding your rights can help you avoid potential policy cancellations and ensure adequate coverage for your home.

Shield Insurance Agency represents over 40 insurance companies and can help you find the right homeowner’s insurance policy for your needs. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK, and an agent will be in touch soon.

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The Ultimate Guide to Understanding Landlord Insurance vs. Homeowners Insurance

The Ultimate Guide to Understanding Landlord Insurance vs. Homeowners Insurance

Posted on by Shield Insurance Agency

Shield Insurance Blog | Landlord Insurance | Contact Us | Start A Quote

Are you a homeowner or a landlord? Do you know the difference between landlord insurance and homeowners insurance? If not, you’ve come to the right place! In this comprehensive guide, we will break down the key differences between these two types of insurance policies, helping you make an informed decision about which one is right for you. Whether you’re a homeowner looking to rent out your property or a landlord with multiple rental units, understanding the nuances of these insurance policies is crucial to protect your investment. Let’s dive in!

Homeowners Insurance

Homeowners insurance is a policy designed to protect individuals who own and live in their homes. It provides coverage for the structure of the house, personal belongings, and liability in case of accidents or injuries on the property. This type of insurance is essential for homeowners as it safeguards their investment and provides financial security in case of unforeseen events such as fire, theft, or natural disasters.

Landlord Insurance

Landlord insurance, on the other hand, is specifically tailored for property owners who rent out their homes or apartments. This insurance policy offers coverage for the structure of the building, liability protection, and loss of rental income. Unlike homeowners insurance, landlord insurance also covers damages caused by tenants, such as vandalism or theft. It is crucial for landlords to have this type of insurance to protect their property and rental income.

Key Differences

Now that we understand the basics of homeowners and landlord insurance, let’s explore the key differences between the two:

  • Coverage: Homeowners insurance primarily focuses on protecting the homeowner’s personal property and liability, while landlord insurance extends coverage to the structure of the building and potential rental income loss.
  • Liability: Homeowner insurance covers accidents or injuries that occur on the homeowner’s property, while landlord insurance includes liability protection for both the property owner and the tenants.
  • Tenant-related Damages: Landlord insurance covers damages caused by tenants, such as vandalism or theft, which are not typically covered by homeowners insurance.
  • Loss of Rental Income: Landlord insurance provides coverage for loss of rental income due to property damage, making it an essential safeguard for landlords who rely on rental income.
  • Choosing the Right Insurance

When deciding between landlord insurance and homeowners insurance, there are a few factors to consider:

  • Property Usage: If you plan to rent out your property, landlord insurance is a must. However, if you live in your home and do not rent it out, homeowners insurance is sufficient.
  • Rental Income: If you rely on rental income to cover mortgage payments or other expenses, landlord insurance is crucial to protect your financial stability.
  • Additional Coverage: If you have valuable personal belongings or unique risks associated with your property, consider homeowners insurance with additional coverage options.

Understanding the differences between landlord insurance and homeowners insurance is vital for homeowners and landlords alike. While homeowners insurance protects your personal property and liability, landlord insurance provides comprehensive coverage for rental properties, including structure, liability, and loss of rental income. By choosing the right insurance policy, you can safeguard your investment and ensure financial security. Remember to assess your property usage, rental income, and additional coverage needs when making this decision. Now that you’re armed with this knowledge, you can confidently protect your property and make informed choices about insurance coverage.

Shield Insurance Agency represents over 40 insurance companies. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.

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Homeowner Insurance Unveiled: The Ultimate Guide to Personal Property Coverage!

Homeowner Insurance Unveiled: The Ultimate Guide to Personal Property Coverage!

Posted on by Shield Insurance Agency

Shield Insurance Agency Blog | Homeowner Insurance | Start A Quote Today!

When it comes to protecting your home and belongings, having the right insurance coverage is crucial. One important aspect of a homeowner insurance policy is personal property insurance. In this blog post, we will explore what personal property insurance is, why it is important, and how it can provide peace of mind for homeowners.

Personal Property Insurance

Personal property insurance, also known as personal belongings coverage, is a type of coverage that is included in most homeowner insurance policies. It provides financial protection for your personal belongings in the event of damage or loss due to covered perils such as fire, theft, or vandalism.

Homeowner Insurance Coverage

Home insurance coverage typically includes two main components: property insurance and liability insurance. Property insurance covers the physical structure of your home, while personal property insurance covers the items inside your home. This can include furniture, electronics, appliances, clothing, and other personal possessions.

Having personal property insurance is important because it helps to ensure that you can replace or repair your belongings if they are damaged or destroyed. Without this coverage, you would be responsible for covering the costs out of pocket, which can be a significant financial burden.

Homeowner Insurance

Home insurance policies typically provide coverage for personal belongings up to a certain limit, which is usually a percentage of the total coverage amount for the property. For example, if your home is insured for $200,000 and your personal property coverage limit is 50%, you would have up to $100,000 in coverage for your belongings.

It is important to review your policy and understand the coverage limits for personal property insurance. If you have valuable items such as jewelry, artwork, or collectibles, you may need additional coverage to adequately protect these items. This can be done through a separate policy or by adding a rider to your existing policy.

When determining the value of your personal belongings, it is important to take an inventory of your items and keep documentation such as receipts, appraisals, or photographs. This will help you in the event of a claim and ensure that you receive the appropriate compensation for your belongings.

Personal Items

Home insurance coverage for personal items can also extend beyond the physical structure of your home. For example, if your laptop is stolen while you are traveling, personal property insurance can provide coverage for the loss. This coverage can also extend to items that are temporarily outside of your home, such as belongings in a storage unit or items in your car.

When it comes to personal property insurance, it is important to work with a reputable insurance agency that can provide you with the right coverage for your needs. Shield Insurance Agency represents over 40 insurance companies, ensuring that you have access to a wide range of options and competitive rates.

If you are interested in obtaining a homeowner insurance policy or reviewing your existing coverage, contact Shield Insurance Agency at (616) 896-4600 for a free quote today. You can also start the quoting process by visiting this LINK, and an agent will be in touch soon to assist you.

In conclusion, personal property insurance is an essential component of a homeowner insurance policy. It provides financial protection for your personal belongings in the event of damage or loss. By understanding your coverage limits and working with a reputable insurance agency, you can ensure that your personal items are adequately protected. Don’t wait until it’s too late – get the right coverage for your home and belongings today.

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Garage Fire Alert: Is Your Car Protected by Homeowners Insurance?

Homeowners Insurance 🔥 Garage Fire Alert: Is Your Car Protected?

Posted on by Shield Insurance Agency

Shield Insurance Blog | Homeowners Insurance | Start A Quote Today!

If my garage burns down, will my homeowner’s insurance cover my car? This is a question that many homeowners may have after experiencing a devastating garage fire. The thought of losing both your home and your car in such a tragic event can be overwhelming, but understanding your insurance coverage can provide some peace of mind.

Homeowners Insurance

Garage fire insurance coverage is an important aspect of homeowners insurance. While homeowners insurance typically covers damage to your home and personal belongings, it may also extend coverage to your car if it is damaged or destroyed in a garage fire. However, it’s important to review your policy carefully to understand the specific coverage limits and exclusions.

Homeowner insurance and car coverage go hand in hand when it comes to garage fires. In most cases, if your garage is attached to your home, the damage to your car would be covered under your homeowner’s insurance policy. This coverage typically includes not only the cost of repairing or replacing your car but also any personal belongings that may have been damaged in the fire.

Car Insurance

Car insurance after a garage fire is another consideration. If your garage is detached from your home, your car may be covered under your auto insurance policy rather than your homeowners insurance. It’s important to contact your insurance carrier to determine the appropriate coverage and file a claim as soon as possible.

Insurance coverage for a car in a garage fire can vary depending on the specific circumstances and the terms of your policy. Some policies may provide coverage for the actual cash value of your car, while others may offer replacement cost coverage. It’s important to review your policy and discuss your options with your insurance agent to ensure you have the appropriate coverage in place.

Home insurance and car protection are crucial in the event of a garage fire. Your insurance policy is designed to protect your assets and provide financial support in times of need. By having the right coverage in place, you can have peace of mind knowing that your car will be protected in the event of a garage fire.

Do you have adequate Homeowners Insurance Coverage?

Car coverage in case of a garage fire is not something that should be overlooked. It’s important to review your insurance policy regularly and make any necessary updates to ensure you have adequate coverage. This includes reviewing your coverage limits, deductibles, and any additional endorsements or riders that may be available to enhance your coverage.

Homeowner insurance and car damage go hand in hand when it comes to a garage fire. Your insurance policy is designed to protect your home and its contents, including your car. By having the appropriate coverage in place, you can have peace of mind knowing that you will be financially protected in the event of a garage fire.

Garage fire and auto insurance are also interconnected. If your car is damaged or destroyed in a garage fire, your auto insurance policy may provide coverage for repairs or replacement. It’s important to contact your insurance carrier as soon as possible to file a claim and discuss your options.

Car protection in a garage fire is essential. Your car is a valuable asset, and having the right insurance coverage can help protect you from financial loss. By reviewing your policy and discussing your options with your insurance agent, you can ensure that you have the appropriate coverage in place to protect your car in the event of a garage fire.

In conclusion, it’s important to understand the coverage provided by your homeowner’s insurance in the event of a garage fire. While coverage can vary depending on the specific terms of your policy, most homeowners insurance policies will provide coverage for your car if it is damaged or destroyed in a garage fire. It’s important to review your policy, contact your insurance carrier, and discuss your options to ensure you have the appropriate coverage in place. Shield Insurance Agency represents over 40 insurance companies and can help you find the right coverage for your needs. Contact Shield Insurance Agency at (616) 896-4600 for a free quote today or start the quoting process by visiting this LINK and an agent will be in touch soon.

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5 Home Renovation Projects For The Best ROI - Shield Insurance Agency Blog

5 Home Renovation Projects for the best ROI

Posted on by Shield Insurance Agency

5 Home Improvement Renovation Projects That May Have the Biggest Return on Investment

Conventional wisdom has long held that kitchens and baths sell homes. Those are also two of the more expensive areas to tackle for home renovation, but if you make sound design decisions and choose the right materials, you could end up making your home more appealing to potential buyers – and a more enjoyable place for you to live. And, if you’re handy, some of these ideas may even be great DIY (do-it-yourself) home projects.

A study from the National Association of Realtors confirms that kitchens and baths still top the list of interior home improvement projects that appeal most to potential buyers. The survey ranked the projects by the percentage of the remodel cost that would likely be recovered based on the home’s resale value after the remodel. These five home improvements can potentially provide the biggest bang for your buck when it comes to ROI.

Complete Kitchen Renovation

  • National Association of the Remodeling Industry’s (NARI®) cost estimate for the project: $68,000
  • REALTORS® estimated cost recovered: $40,000
  • Percent of value recovered from the project: 59%

The look and feel of a kitchen can serve as shorthand for how up-to-date the owners have kept a house. Potential buyers have been known to rule out homes based on kitchens alone. Stainless steel appliances and granite countertops continue to be on many buyers’ checklists, especially those who want to move right in and start entertaining.

The top reason for renovating a kitchen, cited by 24% of homeowners, was to upgrade worn-out surfaces, finishes, and materials. According to the Remodeling Impact Report, 10% of realtors said a completely renovated kitchen most recently helped them clinch a deal, resulting in a closed sale.

Kitchen Upgrade

  • NARI’s cost estimate for the project: $38,300
  • REALTORS® estimated cost recovered: $20,000
  • Percent of value recovered from the project: 52%

A less expensive alternative to completely gutting a kitchen is an upgrade to the current design. Replacing dated appliances, refinishing cabinets, and changing out tile backsplashes are some cost-effective updates that can still modernize a kitchen and make it more appealing to buyers.

While 12% of realtors suggest that sellers completely remodel their kitchens, 57% have suggested a kitchen upgrade. Twenty percent of realtors have said a kitchen upgrade most recently helped complete a deal. In addition to the resale value, kitchen improvements can also help you enjoy your time in your home, with better functionality and livability cited by 29% of respondents as the most important result of their remodel.

Travelers want to help you protect the things that matter to you. We offer a wide breadth of products so you can be covered at home and on the road.

Bathroom Renovation

  • NARI’s cost estimate for the project: $35,000
  • REALTORS® estimated cost recovered: $20,000
  • Percent of value recovered from the project: 57%

Bathrooms are another place where a home can show its age, and potential buyers may hesitate at the cost and work involved in remodeling an outdated bathroom after buying a home. Still, while 33% of realtors have suggested sellers complete a bathroom renovation before completing a sale, only 4% said the project most recently helped them complete a deal.

New Bathroom

  • NARI’s cost estimate for the project: $60,000
  • REALTORS® estimated cost recovered: $30,000
  • Percent of value recovered from the project: 50%

A remodeling decision often driven by function rather than a desire to modernize, adding a new bathroom is nearly as expensive as completely remodeling a kitchen, but with less of a “wow factor” for potential buyers. With only 5% of realtors suggesting that sellers add a bathroom and only 1% saying the project most recently helped clinch a deal for them, this may be one project that makes more sense for homeowners planning to be in their homes for several years.

New Master Suite/Owners’ Suite

  • NARI’s cost estimate for the project: $150,000
  • REALTORS® estimated cost recovered: $75,000
  • Percent of value recovered from the project: 50%

The costliest project on the list, a new master suite or owner’s suite, is another project that may have greater value to you while living in the home rather than in making it attractive to future buyers. Sixty-five percent of respondents said they have a greater desire to be home since completing the project. Only 3% of realtors have suggested that sellers complete an owner’s suite before attempting to sell, and less than 1% said the project most recently helped clinch a deal for them.

Still deciding where to focus your budget for home improvement? Make a list of the reasons you’re considering each project, and be sure to consider the impact on your home insurance, too. Want to attract future buyers and increase the value of your home? Kitchens and bathrooms remain a good place to start. If you plan to remain in your home for a number of years, you may want to update a bedroom, add a bathroom, convert a basement to a living area or tackle any other project that will add to your own appreciation of where you live.

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Renovating Your Home to Fortified Standards - Shield Insurance Agency Blog

Renovating Your Home to FORTIFIED Standards

Posted on by Shield Insurance Agency

If you’re working on your home or putting on a new roof, consider renovating to FORTIFIED standards. Developed by the Insurance Institute for Business & Home Safety (IBHS), FORTIFIED Home™ construction practices are designed to help homeowners and communities better weather future storms, including hurricanes, high winds, hail, and severe thunderstorms.  Building codes set a minimum standard for construction techniques and materials. Building FORTIFIED means exceeding those requirements.

The goal of building FORTIFIED is to take action today to make homes and communities more resilient to natural disasters tomorrow. Using data from more than 20 years of storm damage, IBHS created a set of standards for new and existing construction that can be affordable and can be incorporated into your home’s building design.

If you’re working on your home or putting on a new roof, consider renovating to FORTIFIED standards. Developed by the Insurance Institute for Business & Home Safety (IBHS), FORTIFIED Home™ construction practices are designed to help homeowners and communities better weather future storms, including hurricanes, high winds, hail, and severe thunderstorms.  Building codes set a minimum standard for construction techniques and materials. Building FORTIFIED means exceeding those requirements.

The goal of building FORTIFIED is to take action today to make homes and communities more resilient to natural disasters tomorrow. Using data from more than 20 years of storm damage, IBHS created a set of standards for new and existing construction that can be affordable and can be incorporated into your home’s building design.

Three Levels of FORTIFIED Home Designations

  1. Bronze: As part of the bronze level, a wind-driven rain management system in the roof protects against water damage. It features ring shank nails to protect against wind uplift resistance, which provides double the strength of nails used on traditional homes. Another important technique is sealing the seams of your roof deck to prevent water intrusion from wind-driven rain.
  2. Silver: The silver designation adds features such as impact-resistant windows and pressure-rated doors to protect the home from flying debris in strong winds. 
  3. Gold: The gold designation focuses on creating a continuous load path by tying the roof to the walls, the walls to the floors, and the floors to the foundation to help make the home able to withstand hurricane-force winds.

Adding Value and Safety

After a certified, third-party evaluator verifies that the home meets FORTIFIED standards, you receive a certificate and a unique ID number valid for five years. The FORTIFIED designation helps show you have made consistent and defined structural updates to your home. 
To learn more, visit the IBHS website.

Learn more about homeowners insurance, or if you’re ready to take the next step, give us a Call or Text: 616-896-4600, and we will get you started!

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