Anyone who has a television knows how easy it is to buy the right car insurance. Finding the right marine insurance is not so easy. This article presents an overview of the three most common types of marine insurance.

Doctrine of Uberrimae Fidei

Unlike other types of insurance, marine insurance is subject to the longstanding doctrine of uberrimae fidei or the doctrine of utmost good faith. Under the doctrine, a person applying for marine insurance is obligated to disclose all information that may be material to the risk, whether or not the insurer asked for it.

Material information is information relevant to the insurer’s decision to underwrite the risk. The information solicited in the application is presumptively material. Under federal maritime law, the failure to disclose material information or the misrepresentation of material facts, whether intentional or not, allows a marine insurer to rescind the policy. State law is not consistent on the effect of a misrepresentation or non-disclosure of information. Under California statutory law for example, an insurer may rescind a marine insurance policy if the insured has intentionally failed to disclose or has misrepresented facts, whether or not material to the risk.

Depending on the marine operation, several different types of marine insurance may be required. The three most common types of marine insurance are hull, cargo, and protection and indemnity (P&I). There is no such thing as a standard marine insurance policy and not all marine insurance companies insure against the same risks in the same type of policy. Marine insurers may use their own forms or may incorporate forms issued by industry groups such as the American Institute of Marine Underwriters.

Hull Insurance

Hull insurance generally covers physical loss of or damage to a vessel. There are various types of hull policies depending on the type of vessel being insured. Different policies exist for yachts (private pleasure craft), fishing vessels, tugs and barges, large commercial vessels such as containerships, and passenger carrying vessels. The coverage may apply for a specified period of time or a single voyage.

Coverage under a hull policy is either on an “all-risk” or “named perils” basis. An “all-risk” policy covers all risks of physical loss or damage to a vessel from an external cause unless otherwise excluded. Common exclusions include wear and tear, marine borers, ice, and improper/inadequate maintenance. A “named” perils policy covers physical loss of or damage to a vessel but only from the perils named in the policy. The traditional named perils include heavy weather, fire, piracy and similar sea perils. Additional perils are covered under the “Inchmaree” clause, named after a late nineteenth century British case in which the need for coverage for non sea-related perils was recognized. The Inchmaree clause provides coverage for, among other things, loss or damage due to the negligence of crew, charterers, and repairers, latent defects, and accidents in loading, handling, and discharging cargo.

Hull policies often contain navigational limits resulting in no coverage if the vessel is navigated outside of those limits. Some hull policies confine coverage to those times when the insured vessel is in port, otherwise known as “port risk”. Hull policies may also limit coverage to a certain time of the year and require the insured vessel to be “laid up” during the rest of the year.

Hull policies typically provide coverage for the cost to salvage the insured vessel and the expenses incurred to prevent further damage after a casualty, known as “sue and labor” expenses. A hull policy also covers the liability of a vessel owner arising from a collision between the insured vessel and another vessel.

Hull policies are “valued” policies in which the insurer and the vessel owner agree what the insured vessel is worth. The vessel’s value is stated in the policy and that value forms the limit of what the insurer will pay in the event the vessel becomes a total loss.

Cargo Insurance

Cargo insurance covers physical loss of or damage to goods while in transit. Generally cargo insurance applies from the time the insured goods leave the warehouse at the point of origin until they arrive at the destination warehouse and during different modes of transportation including vessels, trucks, and railroads. Like hull policies, cargo policies insure goods on two bases, “all-risk” and “named perils” and are as varied in their terms as the commodities they insure. Cargo policies may contain special conditions for specified commodities such as refrigerated cargo, automobiles, and used goods.

Cargo policies can be issued to cover a single shipment of goods or as an “open policy” that covers multiple shipments made by the insured over a period of time. If goods are sold on a CIF (cost, insurance & freight) basis, a certificate of insurance may be issued under the open cargo policy and endorsed to the buyer as part of the transaction. Open cargo policies may also be issued to freight forwarders who are allowed to provide insurance for their customers’ goods. Under those circumstances, the freight forwarder issues an insurance certificate on its own cargo insurer’s form, to its customer.

Cargo is typically insured for its invoice value, freight if paid, and other paid charges plus 10 percent. This valuation is thought to approximate the amount needed to place the cargo owner in the same position he would be in had the cargo arrived at destination in sound condition. Cargo policies also cover “sue and labor” expenses or the cost to minimize or avoid further damage to the cargo such as the cost to recondition or re-package the goods.

Like hull policies, cargo policies may have geographic restrictions.

Protection and Indemnity Insurance

P&I insurance covers the liability of a vessel owner arising out of his ownership of the insured vessel. It covers the vessel owner’s liability for injury to or death of persons aboard the insured vessel such as crewmembers, passengers, or stevedores. It also covers liability for injuries or death suffered by persons on shore caused by the negligence of the vessel’s crew.

In addition to liability for bodily injury or death, P & I insurance covers the vessel owner’s liability for damage caused by the insured vessel to fixed structures such as bridges and docks. It also covers liability for damage to other vessels except when caused by a collision with the insured vessel, which liability is covered under the hull policy. In the case of a cargo-carrying vessel, P&I insurance covers liability for cargo loss or damage.

P&I insurance covers the expenses incurred for the removal of the wreck of the insured vessel when compulsory by law and under federal statutory law, a wreck must be removed even if its owner was not at fault in causing the wreck. Further, if the vessel owner is sued, the expenses incurred to defend the suit are covered.

Some P&I policies cover the liability of the vessel owner for pollution but many exclude such coverage. Vessel owners can buy separate pollution liability insurance to protect themselves if the P & I policy excludes such coverage.

P&I coverage is often part of the marine insurance policy issued for a vessel. However, some vessel owners may choose to become members of a P&I Club. A P&I Club is a mutual funded by its members to provide P&I coverage for each other. The P&I Clubs have rules dictating the scope of coverage provided to the members instead of a policy.

Because many marine businesses are multi-faceted, marine insurers commonly offer package policies that combine coverages for a variety of risks. A Marina Operator’s Package policy is an example of such a policy and usually covers the insured’s vessels, docks, and shoreside structures as well as the insured’s liability to others arising out the business’s operations. It may also cover loss of business income and pollution risks.

Persons engaged in marine-related businesses should make sure they have appropriate and adequate insurance for those businesses. Several different types of marine insurance may be needed. A marine business should always work with an experienced marine insurance broker to assess its needs and obtain the necessary coverages.

Contact Lallis & Higgins Insurance for more information on Marine Insurance.

Source: bullivant.com

Check Your Pet Daily

If you live in or are visiting an area that's particularly vulnerable to ticks (check with the Centers for Disease Control and Prevention's website if you're not sure), one of your best defenses is to inspect your pet daily.

Just having the tick walking on your pet is not dangerous, it's when the tick attaches and feeds for a long period of time, over a day or two—that's when parasites can be transmitted.

Pets with longer hair or fur may be particularly likely to pick up a tick. Longer hair provides the critters with more surface area to latch onto and more places to hide.

If you have a dog, dedicate a few minutes each day to brushing or combing his or her fur, and run your hands through it.

Cats are vulnerable, too, though typically less so than dogs because they are regular groomers. But you should still give yours a daily once-over, especially if he or she likes to play outdoors. Starting at the head, run your fingers like a comb over the cat's entire body.

Ticks prefer dark, moist places, so for both cats and dogs, make sure to inspect under their tail and around the anus, belly, face, ears, groin, "armpits," and between the toes. If your pet is particularly squirmy, you may need a partner to help hold your pet steady. Remove any attached ticks with fine-tipped tweezers.

Tickproof Your Yard

If your only method of tick prevention is just checking the dogs, that's not enough. You'll need to do more.

Minor adjustments to your yard, such as keeping tall grass and weeds trimmed, clearing leaf piles, and making a tick trap by using a "bait box" can make a big difference in keeping tick populations down. Several approved pesticides are available, though they come with risk, so it's best to first try to tick proof your yard without chemicals.

A fence around your yard that effectively keeps out wildlife that can spread ticks, such as deer, may also help.

Consider Medications

There are several products approved by the Environmental Protection Agency and the FDA, including topicals (which go on the pet, such as in its fur or in a collar), oral medications, and a Lyme vaccine for dogs—but there are pros and cons associated with each. (Consumer Reports has not tested these products.)

• Topicals. These substances (such as fipronil, permethrin, pyrethroids, and amitraz) come in the form of medicated dusts, collars, sprays, shampoos, and other topical treatments. They kill ticks via direct contact with the animal's fur or skin. One topical product, permethrin, is toxic to cats, but small quantities are considered safe for dogs. Several decades ago, Consumer Reports urged the FDA to remove DDVP, a pesticide found in some flea collars and no-pest strips, from the market entirely. But you can still find it in many products. Though it's not an ingredient in many of the more widely used tick medications for pets, such as Advantage II, Frontline Plus, K9 Advantix II, and Revolution, you should make sure to read labels carefully if you want to avoid it.
• Oral medications. These drugs—such as afoxolaner (NexGard) and fluralaner (Bravecto)—kill ticks via contact with your pet's blood. The tick is still going to bite and that bite could lead to a skin infection, but the tick "will be killed before it can transmit any of the disease-causing organisms.
• Vaccine. The Lyme vaccine for dogs appears to be safe, but experts aren't yet sold on its effectiveness. And it's best when paired with another product.

Part of the problem is that many dogs, especially in high-tick areas, have already been exposed to Lyme—often without showing any symptoms—and data suggest that the vaccine works best on dogs who haven't been exposed. Your dog should be tested for Lyme disease before receiving the vaccine.

Reactions to the shot can include hives, itchiness, and facial and injection-site swelling. Vets typically administer it only to dogs in high-risk areas or if their owners ask for it.

Remember: Whichever products you choose to protect your pets from ticks, be sure to follow all the instructions about the species and size of animal the product is meant for. Don't use items meant for dogs on cats, for instance, and don't use items meant for adult animals on puppies or kittens. Don't use any products meant for humans on your pets, either.

It's best to rely on an EPA- or FDA-approved product. There's little evidence that homemade remedies, such as essential oil mixtures, will provide reliable protection, and there's a chance that a homemade anti-tick concoction could harm your pet.

Source: consumerreports

1. Clean the kitchen

Check a couple of these items off your winter home safety maintenance checklist to improve conditions in your kitchen.

Deep clean the garbage disposal

Nobody likes a stinky sink, so take a little time this February to clear the air in your kitchen. A clogged garbage disposal isn’t just gross—it can create expensive plumbing problems. Here’s how to clean your garbage disposal.

1. Turn off the power.
2. Wipe the grinding chamber and drain.
3. Deodorize with ice and vinegar.
4. Keep your garbage disposal clean for the rest of the year by grinding orange and lemon peels once a week.

Clean out the oven

Did you know that 8% of home cooking fires are caused by dirty ovens or ranges?1 Grime and food built up over the year can render your oven a grimy fire hazard if you don’t clean it regularly.

The good news is cleaning the oven is as easy as following the instructions on your favorite brand of oven cleaner.

2. Be fire smart

It’s easy to take your hallways for granted when it comes to routine checks and maintenance. These quick tasks take only a few minutes and can keep your home safe all year.

Check fire extinguishers

Kitchen fires are serious business. From 2012 to 2016, cooking was the leading cause of home fires and home fire injuries and the second leading cause behind home fire deaths.

You can keep an accident from becoming a tragedy by investing in a fire extinguisher and training your family on how to use it. If you already have one, check the gauge to make sure it's in the green. If not, get it recharged.

Test smoke alarms and carbon monoxide detectors

Dead batteries caused 25% of smoke alarm failures from 2012 to 2016.3 Simple routine maintenance can keep your home much safer.

This February, check all the batteries in your smoke alarms and carbon monoxide detectors to make sure they’re functional. If it’s been over 10 years since you last replaced these units, invest a little cash and replace your existing detectors.

3. Odds-and-ends upkeep

Make your home feel a little cozier with these bedroom and living area improvements.

Change your HVAC filter

Air quality is important inside and outside your home. Breathe a little easier going into spring by changing your HVAC air filter in the hallways, ceilings, or wherever your vent is located. While vents can vary from home to home, the process takes about as long as changing a lightbulb.

Clean linens, carpets, and curtains

Dust, mites, and dander can all cause allergies long before spring pollen strikes. Deep clean your bedsheets, duvets, and comforters in each bedroom to keep the creepy crawlies away. The carpets and curtains in your living areas will also need some love after a year of use.

Change Wi-Fi and personal passwords

Internet-connected smart devices like security systems and cameras need a little maintenance too. Regularly changing your home Wi-Fi password and passwords to accounts like email, bank, and social media accounts can keep prying eyes at bay.

Use unique, complex passwords for each of your accounts for extra security. You should do this more than once a year, but it’s never too late to start! Try using a password manager this month to keep all your data safe.

Upgrade indoor lights

Brighten things up with an upgrade to your living room and bedroom lights. You can control smart lights and anything plugged into a smart plug directly from your phone.

These devices let you turn on the lights or start your morning coffee without getting out of bed. You can also find smartbulbs that add mood lighting for that big date with your valentine.

4. Inspect bathrooms

Here are a few home safety maintenance tasks to make your throne room fit for a king.

Clean out your medicine cabinet

Proper disposal depends on the type of medication you’re throwing away. There are some medications you can flush and others you can’t. For those you aren’t sure about, many cities have take-back locations that will dispose of medications properly.

Recaulk the tub and toilet

Prevent leaks and water damage in your home by checking the sealing and caulking in your bathroom. It only takes a few minutes to patch up any problem areas. You can find caulk online or at your local hardware store.

Deep clean to prevent mold

Bathrooms are a paradise for molds, mildew, and fungus. This February, clean out your vents, fix any water leaks, and scrub the walls and ceilings to prevent black mold and other household mildews.

5. Upgrade outside

While February can be chilly, for those in warmer climates, spring is just around the corner. Here are a few ways you can keep the outside of your home safer until the warm weather comes.

Keep the driveway and sidewalk clear

If you live in a cold, snowy area, you already know how important it is to de-ice the driveway and sidewalk. Even if you don’t use the sidewalk near your home, others do. Keeping ice-melting salt and a snow shovel handy for those winter storms can make your home safer for your family and neighbors.

Watch for ice dams and icicles

Ice buildup on your roof and gutters can cause expensive damage later in the year. Patch up any areas that tend to collect water to prevent leaks and further damage to your roof.

If you live in a warmer area, clean out your gutters this February to prepare for the spring showers. Clogged gutters can cause expensive issues with your roof even if snow and ice aren’t part of the equation.

Upgrade locks

Boost security and convenience with new smart locks this year. Smart locks make it easier for you to get in and out of your house without letting intruders in. They’re especially handy for anyone who tends to lose their keys or needs to let visitors in.

Get ahead on spring cleaning

It can be easy to get cabin fever this time of year, so make your home feel a little safer, cleaner, and happier this February by checking some items off this home maintenance list.

Source: safewise.com

Warm weather has arrived. For many of us, that means spending happy hours outdoors hiking, running, and walking in the woods. It also means watching out for ticks.

Even if you remember to wear insect repellent and regularly check yourself, it's easy to forget that your pets are vulnerable to these sneaky critters, too.

Ticks prefer moist, wooded, and shady hiding places, such as tall grass, brush, and shrubs, and they can lurk in nonwild places, too, like your backyard. In order to survive, they feed on the blood of humans and animals.

After a tick bite, your cat or dog could develop a serious illness, such as Lyme disease (which can cause symptoms such as an abnormal gait or stance, fever, lethargy, and enlarged lymph nodes); cytauxzoonosis (a parasitic infection, specific to cats, that can cause difficulty breathing, fever, loss of appetite, jaundice, coma, and death); skin irritation or infection at the site of the wound; and other complications. That's according to the American Society for the Prevention of Cruelty to Animals (ASPCA).

There isn't a one-size-fits-all approach to protecting your pets from ticks, but there are ways to minimize the danger. (If your pet does get Lyme, treatment usually involves several weeks of antibiotics.)

Here are three strategies to help keep your dog or cat tick-free.

Check Your Pet Daily

If you live in or are visiting an area that's particularly vulnerable to ticks (check with the Centers for Disease Control and Prevention's website if you're not sure), one of your best defenses is to inspect your pet daily, says Lori Bierbrier, D.V.M., a veterinarian and medical director of the Community Medicine program at the ASPCA.

"Just having the tick walking on your pet is not dangerous," she says, "it's when the tick attaches and feeds for a long period of time, over a day or two—that's when parasites can be transmitted."

Pets with longer hair or fur may be particularly likely to pick up a tick, says Martine Hartogensis, D.V.M., deputy director of the Office of Surveillance and Compliance in the Food and Drug Administration's Center for Veterinary Medicine. Longer hair provides the critters with more surface area to latch onto and more places to hide.

If you have a dog, dedicate a few minutes each day to brushing or combing his or her fur, and run your hands through it.

Cats are vulnerable, too, though typically less so than dogs, says Hartogensis, because they are regular groomers. But you should still give yours a daily once-over, especially if he or she likes to play outdoors. Starting at the head, run your fingers like a comb over the cat's entire body.

Ticks prefer dark, moist places, so for both cats and dogs, make sure to inspect under their tail and around the anus, belly, face, ears, groin, "armpits," and between the toes. If your pet is particularly squirmy, you may need a partner to help hold your pet steady. Remove any attached ticks with fine-tipped tweezers.

Tickproof Your Yard

"If your only method of tick prevention is just checking the dog," Hartogensis says, that's not enough. You'll need to do more.

Minor adjustments to your yard, such as keeping tall grass and weeds trimmed, clearing leaf piles, and making a tick trap by using a "bait box" can make a big difference in keeping tick populations down. Several approved pesticides are available, though they come with risk, so it's best to first try to tickproof your yard without chemicals.

A fence around your yard that effectively keeps out wildlife that can spread ticks, such as deer, may also help.

Consider Medications

There are several products approved by the Environmental Protection Agency and the FDA, including topicals (which go on the pet, such as in its fur or in a collar), oral medications, and a Lyme vaccine for dogs—but there are pros and cons associated with each. (Consumer Reports has not tested these products.)

Topicals. These substances (such as fipronil, permethrin, pyrethroids, and amitraz) come in the form of medicated dusts, collars, sprays, shampoos, and other topical treatments. They kill ticks via direct contact with the animal's fur or skin. One topical product, permethrin, is toxic to cats, but small quantities are considered safe for dogs.

Several decades ago, Consumer Reports urged the FDA to remove DDVP, a pesticide found in some flea collars and no-pest strips, from the market entirely, says CR senior scientist Michael Hansen, Ph.D. But you can still find it in many products. Though it's not an ingredient in many of the more widely used tick medications for pets, such as Advantage II, Frontline Plus, K9 Advantix II, and Revolution, you should make sure to read labels carefully if you want to avoid it.

With some of these pesticides, Hansen warns, "there could be some transfer to kids who have a lot of contact with their pets."

According to a 2012 statement from the American Academy of Pediatrics, the evidence about whether childhood exposure to low levels of pesticides can be harmful is still emerging. But some data suggest that such exposure may be associated with cognitive and behavioral problems, as well as pediatric cancers.

Oral medications. These drugs—such as afoxolaner (NexGard) and fluralaner (Bravecto)—kill ticks via contact with your pet's blood. "The tick is still going to bite," Bierbrier says, and that bite could lead to a skin infection, but the tick "will be killed before it can transmit any of the disease-causing organisms."

Vaccine. The Lyme vaccine for dogs appears to be safe, but experts aren't yet sold on its effectiveness. And it's best when paired with another product, says Thomas Mather, Ph.D., of the University of Rhode Island.

Part of the problem is that many dogs, especially in high-tick areas, have already been exposed to Lyme—often without showing any symptoms—and data suggest that the vaccine works best on dogs who haven't been exposed. Your dog should be tested for Lyme disease before receiving the vaccine.

Reactions to the shot can include hives, itchiness, and facial and injection-site swelling. Vets typically administer it only to dogs in high-risk areas or if their owners ask for it.

Remember: Whichever products you choose to protect your pets from ticks, be sure to follow all the instructions about the species and size of animal the product is meant for. Don't use items meant for dogs on cats, for instance, and don't use items meant for adult animals on puppies or kittens. Don't use any products meant for humans on your pets, either.

It's best to rely on an EPA- or FDA-approved product. There's little evidence that homemade remedies, such as essential oil mixtures, will provide reliable protection, and there's a chance that a homemade anti-tick concoction could harm your pet.

Once you first begin considering when and how to buy a house, you’ll likely get all sorts of advice — some helpful, some not so much. And while it can be a long process, buying a home is exhilarating, rewarding and a big commitment. Before taking the plunge, use this checklist as a guide to buy a house — and ensure you’re prepared for the various steps in the home buying process.

1. Understand what you can afford.

How much money do you need to buy a house? That’s the first question you’ll want to consider, especially if you’re buying a home for the first time. Before you start house hunting, you need to determine how much you can afford. Consider your income and existing monthly expenses.

There are several home mortgage calculators online that can help you figure out what you might be able to afford. Keep in mind that you will want to budget for not only the mortgage but also for new budget items that go along with owning a home, such as insurance, possible homeowner association (HOA) fees, taxes, landscaping and yardwork costs, utilities, repair costs, etc.

2. Find an agent that fits your personality.

You might think of this as an optional step on your buying a house checklist, but obtaining professional help can make the process of buying your home much easier. A real estate agent will be able to answer questions you may have, point out things to look for in the homes, help you make an offer and negotiate with the sellers on a price.

In addition, real estate agents are often more knowledgeable about the market value of other homes in the neighborhood and are aware of certain properties that may not be advertised to the public. If a bank or financial institution lists a new home, real estate agents are often the first to be informed, which can give you an advantage when finding a property before other buyers are aware that it's on the market.

3. Be picky but realistic.

No house is perfect. Focus on the things that are most important to you, and let the minor ones go. Try to visualize yourself in the home for the long haul.

When you begin shopping around for a home, the furniture, beautiful artwork and fresh towels in a home can easily make you fall in love with the style of the place or current owners. Try to look beyond this and focus on what is most important: the bare bones of the home itself. Try to envision the rooms without furniture to determine how spacious (or lacking in space) the property is. Examine the countertops, floors and walls for defects that staging may have camouflaged.

4. Factor in all your costs.

Your mortgage payment is only the beginning. You also need to factor in closing costs, property tax, and Home Owners Association (HOA) and homeowner's insurance. Not to mention basic upkeep.

If you are a first-time home buyer, there are a number of grants and programs available to help you find the right funding to purchase a home. Each state has different programs and first-time home buyer incentives to assist you with the buying process. Incentives can include qualifying for reduced interest rates if you meet income and property limits, assistance with down payment and closing costs, and a reduction in potential federal income tax liability.

You may also want to consider applying for an FHA loan, which is easier to qualify for if you have a lower credit score. An FHA loan generally requires a smaller down payment of 3.5 percent to obtain maximum financing.

5. Leave emotions at the door (and try to improve your credit score).

Don't get discouraged if you lose out on the first or second house, or if the seller won't come down in price.

Your credit score will influence whether you're approved for a home loan and how much you'll end up paying in interest. This is one of the steps to buying a house that can save you thousands of dollars over the years. You want a score of at least 700.

6. Practice your poker face and get pre-approved for a home loan.

Don't show the seller's agent all your cards if you've fallen in love with a house. Hang back and prepare to negotiate.

One of the many mistakes that home buyers make is failing to get approved for a home loan before shopping around. This can make it easy to fall in love with a property that you may not be able to afford. Most sellers are leery of accepting an offer if a buyer isn’t pre-approved. They also may not want to wait for the buyer to get approved for the loan and can end up accepting someone else's offer in the process. To avoid this, meet with a lender before you start looking to get your financial questions answered and get the pre-approval documentation all lined up.

Your mortgage interest rate will have a major impact on the total price you pay for your home, so it's important to shop around for the right mortgage lender. Different lenders will have different offers on loan terms, interest rates and fees. Talk with several before you start looking for a home so you can get the best deal.

7. Get an inspection.

You'll want to hire your own inspector if you're considering purchasing a home and making an offer. Although the seller may hire an inspector to look at the electrical components and the structure of the home, the results of the inspection can still be influenced by the fact that the inspector is working for the seller.

This makes it important for you to hire your own inspector to ensure that nothing is overlooked during the process. If the results include mold that was discovered in the basement or a roof that needs to be replaced, for example, this may impact your negotiations with the seller on price.

8. Think long-term.

Is this your starter or forever home? Asking these questions can dictate the type of property you purchase, as well as the mortgage terms that suit you best.

One of the most important tips for buying a house is to research neighborhoods before you buy. You may fall in love with a home that has all of the features that you're looking for, but the location can detract from the value and pose a future problem. Research the crime rate in the area. Visit the neighborhood at various times of the day to determine how safe it is and how comfortable you feel at night.

When visiting, listen to how much noise is in the area. The property may be in a location that is loud only during the day but is quieter at night. Check to see whether the homes in the neighborhood are well-maintained, because those other homes will impact the value of your house over time.

Determine how close nearby schools, banks and grocery stores are, as this will influence how much time you spend on the road commuting or running errands throughout the week. Check into the value of the homes in the neighborhood and their recent sale prices. Look for properties that are similar in size and condition to the one that you're interested in purchasing to compare the value.

Source: araglegal

With the housing market booming, you may have recently purchased your first home and are curious about what you should know about property taxes.

What is property tax?

Property tax is a tax paid on real estate or other types of properties you own. It’s also a type of ad valorem tax, meaning this tax is based on the assessed value of the property. Generally, property tax is based on the location of the property and assessed value of the property.

Property tax is typically assessed and collected by state and local governments on an annual basis. They can vary significantly within a state and even between neighboring counties.

Key Takeaways

How is property tax calculated? Property tax is determined by multiplying the assessed value of your property by the basic levy rate, which is a percentage set by the municipal tax authority. In some cases special assessments are also included in the total property taxes assessed.

Why do we have property taxes? Property taxes are local taxes that fund local government programs and help pay for services and projects that benefit your community.

What is the difference between property taxes and. real estate taxes? Used interchangeably but they aren’t the same. Real estate tax is a type of property tax – not all property taxes are real estate taxes. Real estate taxes are assessed on real property like your home and other property taxes like personal property taxes are assessed on tangible and movable property you own like vehicles.

How is Property Tax Calculated?

Property tax is typically calculated by multiplying the value of the property by the basic levy rate:

Assessed Value x Levy Rate = Property Tax

For example, if the assessed value of your home is $200,000 and your county levy rate is 2% then your property tax would be $4,000 ($200,000 x .02 = $4,000). Your property tax bill is typically paid annually to your tax assessor or it can be split monthly and paid with your mortgage payment. Your lender will then send the property tax you paid with your mortgage payment to your tax collector.

What is the Assessed Value of Property?

The assessed value of your property is not to be confused with the price you paid for your home or the price you could sell it for – those are considered the “appraised value” or “market value”. The assessed value of your property is given by the local government’s tax or property tax assessor. This assessed value is typically lower than the market value of the property. This works in your favor since your property tax will then be based on that lower value.

Finding out the assessed value of your property is fairly straightforward. It should be stated on your most recent property tax bill or you can perform a quick search for your property on your property tax collector or tax assessor website.

What is a Levy or Tax Rate?

The levy or tax rates are set by local governments and authorities and will vary depending on where the property is located. Property tax rates can vary significantly within a state and between neighboring towns can be subject to different rates.

It’s possible that your levy or tax rate is expressed as a “millage rate” instead of being expressed as a percentage. Simply stated one “mill” is equal to one-thousandth of a dollar. So if your local property tax rate is 10 mills then you would pay $10 for every $1,000 of the property’s assessed value. So if your home has an assessed value of $200,000 at 10 mills, you would be taxed $2,000 ($200,000 x .010 = $2,000). Sometimes taxing authorities only tax a portion of the assessed value rather than the whole thing to help reduce the tax bill.

It’s important to note that these property tax rates are not permanent and can change. Keep up to date on your county or city’s property tax rate and assessments to avoid a surprising tax bill.

Why Do We Have Property Taxes?

Property taxes are used to fund many services and initiatives that impact everyday life. Property taxes finance local government programs such as police officers, fire fighters, libraries, road maintenance, community pools, and community activities. These services and projects provided by property taxes benefit the community where you live.

What is the difference Between Personal Property Tax and Real Estate Tax?

The terms property taxes and real estate taxes are often used interchangeably. However, while it is true that real estate tax is a type of property tax – not all property taxes are real estate taxes.

Real estate taxes are only on real property like your home or rental property but personal property taxes are levied on movable personal property like vehicles. Businesses are also required to pay property taxes on personal property they own or lease like machinery, fixtures, office furniture, and equipment.

How Do I Pay Property Taxes?

There are typically two ways that people pay their property tax bill:

Once the tax bill arrives (annually or every 6 months) you go online and make a payment or pay via check.

Monthly when paying your mortgage, if you have an impound account and your lender sets aside the money you pay for property taxes in an escrow account to pay the property tax bill. Think of the escrow account as a savings for when the property tax bill arrives.

What if I Don’t Pay My Property Taxes?

Not paying your property taxes can result in the taxing authority placing a tax lien against your property. A tax lien is a legal claim against the property or other financial assets that you own. A tax lien does not take possession of your property but if you were to sell the property, the local government could be entitled to some or all of the proceeds from the sale of the property or asset to cover unpaid property taxes

How Do I Deduct Property Taxes on My Tax Return?

If you can itemize your deductions (instead of taking a standard deduction) you can deduct up to $10,000 ($5,000 if you are married filing separately) in combined property taxes and either state and local income taxes or sales taxes on your tax return.

turbotax.intuit.com

• Do have your heating system, water heater and any other gas, oil, or coal burning appliances serviced by a qualified technician every year.
• Do install a battery-operated or battery back-up CO detector in your home. Check or replace the battery when you change the time on your clocks each spring and fall. If the detector sounds, leave your home immediately and call 911.
• Do seek prompt medical help if you suspect CO poisoning and are feeling dizzy, light-headed, or nauseated.
• Don’t use a generator, charcoal grill, camp stove, or other gasoline or charcoal-burning device inside your home, basement, or garage or near a window.
• Don’t run a car or truck inside a garage attached to your house, even if you leave the door open.
• Don’t burn anything in a stove or fireplace that isn’t vented.
• Don’t heat your house with a gas oven.
• Don’t use a generator, pressure washer, or any gasoline-powered engine less than 20 feet from any window, door, or vent. Use an extension cord that is more than 20 feet long to keep the generator at a safe distance.

cdc.gov

Nothing quite creates a winter holiday ambiance as well as a log in the fireplace and family gathered around to bask in its warmth and glow. Of course, playing with or near fire is dangerous for children, so please remember these tips from the AAP before you light your hearth.

• If possible, keep a window cracked open while the fire is burning.
• Be certain the damper or flue is open before starting a fire. Keeping the damper or flue open until the fire is out will draw smoke out of the house. The damper can be checked by looking up into the chimney with a flashlight or mirror. Do not close the damper until the embers have completely stopped burning.
• Use dry and well-aged wood. Wet or green wood causes more smoke and contributes to soot buildup in the chimney. Dried wood burns with less smoke and burns more evenly,
• Smaller pieces of wood placed on a grate burn faster and produce less smoke.
• Clean out ashes from previous fires. Levels of ash at the base of the fireplace should be kept to 1 inch or less because a thicker layer restricts the air supply to logs, resulting in more smoke.
• The chimney should be checked annually by a professional.
• Even if the chimney is not due for cleaning, it is important to check for animal nests or other blockages that could prevent smoke from escaping.
• Minimize your child's chance of burns from the hot glass front of some fireplaces, including gas fireplaces. Safety screens can be installed to reduce the risk of burns.
• Make sure the area around the fireplace is clear of anything that is potentially flammable (ie: furniture, drapes, newspapers, books, etc.). If these items get too close to the fireplace, they could catch fire.
• Never leave a fire in the fireplace unattended. Make sure it is completely out before going to bed or leaving the house. If you leave the room while the fire is burning or the fireplace is still hot, take your small child with you.
• Put fireplace tools and accessories out of a young child's reach. Also, remove any lighters and matches.
• Install both smoke and carbon monoxide detectors. Test them monthly and change the batteries at least once a year.
• Keep a fire extinguisher on hand.
• Talk with children as early as possible the dangers of fires and the heat coming from them.

Source: healthychildren.org

Sub Pump overflow and groundwater damage can be serious issues for homeowners. A sub pump is a device that is installed underground to pump water out of a basement or crawl space to prevent flooding. However, if the pump malfunctions or becomes clogged, it can cause water to overflow, leading to damage to the home and its contents.

Groundwater damage can occur when the water table rises and enters the home through the foundation or basement walls. This can also lead to mold growth, structural damage, and other issues.

Both of these issues can be covered by homeowners insurance. However, it is important to check the specific details of your policy to see what is covered and what is not. In some cases, additional endorsements or riders may be needed to ensure full coverage for these types of damages.

It is also important to take preventative measures to reduce the risk of sub pump overflow and groundwater damage. This can include regularly maintaining and inspecting the pump, installing a battery backup system, and ensuring proper grading and drainage around the home.

Overall, it is important for homeowners to be aware of the potential for sub pump overflow and groundwater damage, and to take steps to protect their home and belongings through proper maintenance and insurance coverage.

For more information, contact Lallis & Higgins Insurance.

1. Start in one place

If you have several areas in your home you want to get under control, start with just one. You decide which one to start with — is it the area that gives you the biggest headache, or the area that guests to your home most easily see? Whatever your priorities, select one area and stick to it. Many attempts at organization fail when the task of cleaning up the entire house seems daunting and folks give up. When you complete one area, celebrate and then move on to the next.

2. Allow plenty of time

Don't expect organization to happen overnight. Depending on the area to be organized, schedule a couple of hours each day to work on getting the area organized. Getting a garage whipped into shape will take more time than it takes to organize a linen closet.

3. Clean house

Once you've selected an area, go through the contents. Donate or hold a garage sale for anything you don't or can't wear or use any more. Use the two year rule of thumb — if you haven't worn it in two years, it's time to say goodbye to it. These items take up valuable space and probably won't be missed.

4. Take inventory

After you've removed extraneous items, take a look at what remains. Does it belong here? Does it make sense to keep it here? Is there another place where you've got more room to keep it, or another area where it would be more easily accessible for its purpose? For example, take that professional-grade mixer that you've been keeping in the back of your closet and move it to the kitchen. When it's time to tackle that area of the home, you can incorporate the mixer into the new storage plan for the kitchen.

5. Look for wasted space

If you're in need of more storage space, think creatively about additional areas that you can put to work. Prime examples include over doors and underneath beds. These areas are valuable real estate in your home and are often overlooked.

6. Maximize vertical space

If you don't have a lot of room to work with, a surefire way to instantly create more space is to go "up." Instead of only having a couple of shelves to house your kitchen items, take them up to the ceiling to really maximize the vertical space — you'll store the things you need less frequently on the higher shelves.

7. Divide the space

By adding additional shelves to a single shelf, or by using containers that stack atop one another, you can divide the vertical space and make efficient use of the area you have to work with. By dividing the space, you eliminate the possibility of stacking tall piles of clothing, papers or other items that are destined to topple over.

8. Keep it moving

Consider storage options on wheels: to allow for greater flexibility and to help keep the clutter under control. Carts can hold an assortment of accessories in a small amount of space, and can be wheeled back into a closet or storage area when not in use.

9. Organize with color

Whether you're working to organize the family room or striving to get your home office under control, use color to enhance your efforts. Assign each child a different colored container to keep his or her belongings in and keep them responsible for cleaning up after themselves. Organize projects, bills and other important papers by function and color in your home office.

10. Visibility

The three rules to organization are visibility, accessibility and flexibility. Choose containers that are either transparent or that you can easily label to help immediately identify the contents and save valuable time.

11. Accessibility

Make sure that the items you need most often are the easiest to access. Likewise, place the items you don't need to get to as often on a higher shelf or in another area.

12. Flexibility

Select a storage system that can adapt to your changing needs. That way, you can reconfigure and reuse solutions to solve a variety of storage and organization problems.

Source: containerstore.com