Will My Homeowner’s Policy Cover Damage to My Friend’s Belongings?

Homeowner’s insurance is a necessity for anybody who owns a home or has a mortgage. The policy will protect you in the event that your home is damaged from any number of factors beyond your control, including storms, fire, falling trees, wind damage, and more.

Your home is a huge investment, and it’s important to protect its value. If a storm damaged your home so badly that it would cost you a fortune to fix, not only would you have lost the value of the home to the storm, you’d still have a mortgage on a property that is no longer worth what you owe. For all of these reasons, it’s important to have homeowner’s insurance.

An HBF homeowner’s insurance policy not only protects the physical structure of your home, but also its contents. Policies differ on what they cover—you always get what you pay for—but for the most part, your home’s contents are covered in the event of a storm or similar event damages the home so badly that valuable possessions inside are also damaged. For instance, if a tree smashed through your roof and allowed rainwater to pour in, damaging expensive electronics, you would likely be covered.

So your homeowner’s policy would be pay for a new roof, new flooring, and a new TV to replace the one that got washed away. Insurance companies encourage the insured parties to keep a detailed list of valuable items in the home along with receipts so there’s no question about what is in the home when it comes time to file a claim.

But does your homeowner’s insurance policy cover the belongings of visitors to your home while they are staying with you? Let’s say you have friends or family staying with you for the weekend, and a burst pipe floods the guestroom soaking everything on the floor, including your brother’s brand new laptop. Can you get your homeowner’s policy to pay for a replacement? In general, yes, your brother’s computer is covered under the policy and is eligible for a claim.

However, to make sure there are no hiccups in the claim process, it’s important that you contact the insurance company to request this coverage to begin with. Some policies may include coverage for guests and other visitors by default, but many policies will need to have this coverage added to it as a separate rider.

So you’ll have to decide if visitor and guest coverage is worth it to you to pay a little bit more. If you frequently have guests over that tend to bring expensive items like electronics or jewelry, it might make sense to make sure you have the proper coverage. Covering your visitor’s possessions would certainly put your mind at ease if you’re worried about theft, for example. However, it might also be redundant if your guests already have their personal belongings insured by their own policy. Your choice depends on how frequently someone visits your home and what they tend to bring with them.

Add Up Your Household Energy Savings

We’re deep into the hot summer months.  Air conditioners across the country are doing overtime keeping our homes and businesses cool and comfortable and keeping the heat outside.  Unfortunately, it won’t be that much longer before we’re turning on the heat and repelling the cold of winter.  All of that comfortable air, hot or cold, comes with a cost.  Sometimes you’ve got to do what you can to find whatever energy savings you can.

Here in the northlands of North Dakota, we’ve got plenty of options for powering our air conditioners and furnaces.  Predominately, we use natural gas for heat and electricity for the air conditioning, but also have options for dual gas/electricity appliances.  Our house uses electricity for AC and gas for the furnace.  (If you’re trying to compare services, using something like this energy conversion calculator can help figure out which service is really the better deal)

Add up Energy SavingsIf you’re looking for energy savings, comparing services is a great place to start, but there are some other ways that you can help cut the cost of your energy and make it’s impact on your wallet a little lighter.

Adjust the temperature

Adjusting the temperature on the thermostat a few degrees can reduce the amount of time that the air conditioner runs in the summer or the furnace runs in the winter.  Turn the thermostat up a few degrees in the summer and use some small fans to help move the air around to adjust the comfort level.  Do the opposite in the winter.  Turn the thermostat down a few degrees and use blankets and heavier clothing to help adjust your comfort level.

Invest in thermal shades

Even if you have a really efficient home, you’ll still lose thermal mass.  And the biggest culprit for that is your windows.  Investing in thermal shades and blinds can help keep the heat out in the summer and the cold out in the winter.  They’re more expensive, but unless you’re redecorating your house every year, they’ll last years and make up for the added cost in energy savings.

Program your energy savings

Does it matter to you if your house stays nice and cool during the summer while your at work?  Or nice and warm in the winter?  If we’re honest, we really only want our house warm or cold when we’re there.  If the house is empty for 8 hours or more a day, there’s really no reason to waste all that energy while we’re gone.  Buying and installing a programmable thermostat is the best way to be able to adjust the temperature while your away and still assure that your house is comfortable when you return for the day.  Set a schedule to adjust the temperature up or down by 5-10 degrees while your out of the house (or sleeping) and to return to your “comfortable” temperature just before you return home.

Spread the cost out

Once you’ve maximized the full energy savings potential, you still won’t be left without any energy costs.  There’s still going to be a bill showing up each month that will need paying.  If you’ve got one energy supply feeding your air conditioner in the summer and another feeding your furnace in the winter, like I do, chances are your bills will spike during the hottest and coldest months of the year.  Most utilities will have some sort of payment system that will allow for you to pay an even amount each month.  We’ve got both our electricity and gas accounts on such a program.  We pay a relatively flat rate each month to each utility, and avoid paying large bills during the extremes of the seasons.

What other ways do you employ to create energy savings for your household or business?

How to Keep Warm without Heating Up Your Bill

Bundle up, America: it’s going to be a cold winter.

The Energy Department expects the price of natural gas to increase a whopping 13 percent over last year’s rates, to the tune of about $679. Homeowners using electricity to warm their abodes can expect a 2 percent increase in heating costs.

If this news isn’t enough to make you shiver, experts predict this winter will be colder than it has been over the last two years. In addition to stockpiling blankets and tea bags, consider these tips to stay warm this winter without overheating your energy bill.

1. Look for Leaks
No matter how high you crank up that thermostat, your house will never be warm enough if your doors and windows aren’t properly sealed. Take the time to test air loss throughout your home and properly seal the areas prone to leakage, including baseboards, attic hatches and electrical outlets. The Department of Energy’s article on detecting air leaks can help you cover all your bases.

2. Ask for a Free Audit
Most energy companies offer free home audits that offer expert-level understanding of where your home is losing heat. If you’re lucky, a few strips of duct tape may be all you need to repair leaky ductwork. It’s probably a good idea to schedule an audit after you make the effort to patch air leaks to determine if you missed anything.

3. Start with the Attic
A well-insulated attic to save you up to 50 percent on your heating bill, so evaluate the insulation levels in your attic and replenish accordingly. Additionally, check the air seal around attic access points as these are often overlooked and can result in significant heat loss. For more information on how to properly insulate your attic, read these tips from the experts at This Old House.

4. Get on a Schedule
If you haven’t purchased a programmable thermostat, this year is definitely the time to invest. You can save up to 10 percent on these devices by purchasing discount gift cards through GiftCardGranny.com to Lowe’s or Home Depot. Once you find a device you like, create a schedule you can stick to and remember to adjust it when you leave for extended periods of time.

5. Condense Your Space
By closing windows and doors to unused rooms, it will take less time and ultimately less energy to heat the areas you use most. You can go so far as to place a towel at the base of closed doors to better lock in the heat. Make sure ceiling fans in heated rooms are reversed and on low to better circulate warm air. Don’t forget to open your shades during the day–the sun’s rays will naturally warm up your home.

6. Consider a Space Heater
Space heaters offer supplemental heat without increasing your heating bill. According to Consumer Reports, you can buy top-rated heaters for as little as $40 while keeping your thermostat set to as low as 60 degrees. Safety is paramount, so read up on user and expert reviews before purchasing a unit and place it on ceramic tile instead of carpet or table tops.

7. Bundle Up
Nothing says cozy like a good down comforter, heavy blanket and flannel sheets. When in doubt, keep the thermostat low and stock up on warm bedding and toasty attire. Flannel sheets will do the trick too and you can usually find fun prints that your kiddos will love to sleep with. I personally enjoy a cooler night’s rest bundled under covers. I recommend searching for quality bedding at discount retailers like Homegoods and TJMax. Otherwise, wait until Veteran’s Day for deals at department stores like Macy’s.