Homeowner's Insurance Archives - O'Connor Insurance Agency

5 Tips to Help Prevent Tree Trouble

August 2, 2016 Karen O'Connor

Trees are pretty amazing things. They produce oxygen. They serve as natural air conditioners, both by blocking sunlight and through evaporation. And they even absorb sounds, helping to keep things peaceful.

These benefits, along with countless others, are great reasons to keep the trees on your property in good shape. Looking for another? Unhealthy trees can actually pose great danger to your home and property, as well as to your family and other people.

With these tips from the National Arbor Day Foundation, you can help prevent tree trouble – and potentially save yourself from a home insurance claim:

1. Inspect trees frequently. The size, color, and condition of leaves, and overall leaf cover, are good indicators of a tree’s health. Cavities or disfiguration can be a warning sign, although they don’t always mean a tree is a hazard. Just keep a close eye on it. Dead branches are a big risk, because they can fall easily. Those that cross or rub can create weak spots.

2. Plant in an appropriate space. Putting in a tree that will grow to be large? Don’t put it near power or sewer lines, or close to your home. And avoid brittle trees (like silver maples and willows) – their limbs are weak and more likely to break and fall.

3. Prune correctly. Cut outside the branch collar, and prune regularly as trees age. Don’t allow a tree to be topped.

4. Leave it to an expert. Once a year, have a qualified arborist thoroughly evaluate the trees on your property. An arborist can identify ones that need to come down immediately, as well as those to watch. In particular, trees that have been topped, or that have lost large limbs unexpectedly, could cause trouble. Taking down trees can be very dangerous, so leave it to a professional.

5. Remember, you’re responsible. Property owners are generally responsible when their dead trees and branches trees cause damage or injury to others. So keep your trees healthy, your space beautiful and your liability low!

Did you know, if a seemingly healthy tree or branch falls and damages your neighbor’s property, you are not responsible for this damage, as you could not have prevented it. It is an act of god, as we say. Imagine a tornado where all sorts of things blow into the homes. You could not find the owners of all the debris. Each homeowner’s policy covers the home it insures.

When a tree falls in your yard and does not hit a structure, you may or may not have coverage through your homeowners policy for removal. If you’d like to discuss your coverage, please give us a call today. It may be a good time to think about adding extra liability coverage to your insurance portfolio with an umbrella policy.

A Few Tips for the College-Bound

July 26, 2016 Karen O'Connor

Chances are, if you have a child going into college this fall, your summer has been full of shopping lists, campus visits, and worrying. College is expensive enough without the added cost of unexpected accidents or theft, not covered by your insurance policy. If you have a student heading away to school, below are a few tips to help you get the most out of your coverage.

HOMEOWNERS (varies by state)

Personal Property: Most homeowners policies will cover personal property for up to 10% of the personal property limit on your policy while your child is residing at school (a $100,000 limit equals $10,000 in coverage). Not all types of damage are covered, so read your policy carefully. Renters insurance is strongly recommended when a house or apartment is rented.
Liability Coverage: General damage to a dorm room or apartment is not usually covered.
Documentation: Creating an inventory of the items your child is taking to school is a good idea. Use photographs and keep receipts.

AUTO (varies by state)

Car Stays Home: Keep your child listed on your auto policy if they will still drive your car while at home on school breaks.
Car at School: Make sure to notify us if your child will be taking a car away to school. In most cases, if the car is registered to you and listed on your policy, it will be covered.
Driving a Friend’s Car: Students are generally covered if they are listed on their parent’s policy and are not regularly using the vehicle. The coverage would be secondary. The insurance for the friend’s vehicle would be the primary coverage.
Discounts: A full-time student meeting certain academic requirements can qualify for a good student discount. Distant student discounts may also be available. Drivers under 21 who have completed driver’s education may also get a discount.

Before your child leaves for school, call us at 314.434.0038 or email us at info@www.oconnor-ins.com. We can walk you through the steps to ensure you have the right coverage. We’re here to help!

Power Outages and Food Safety: Toss it or Keep it?

June 28, 2016 Karen O'Connor

Missouri summers are magical – fireflies, floating on the rivers, and those captivating summer storms. But what happens when those storms knock out power? St. Louis is no stranger to rolling summer power outages, and what’s worse is they usually come at the hottest part of the year. While we can’t prevent the outages from happening, your friends at O’Connor Insurance can help you curb your losses in the kitchen.

Obviously you want to err on the side of caution here. And, since you shouldn’t taste food to help determine whether it’s safe (harmful bacteria doesn’t always have a rancid smell or taste), here are some tips from the U.S. Department of Agriculture to help you decide what to keep and what to toss once the power is back on:

Throw away meat, poultry, and seafood once it’s been above 40 degrees Fahrenheit for more than two hours. Almost every home goods store sells internal read thermometers (most for less than $10). Not only are they good for instances like this, they are excellent tools to have year round.
Discard milk, sour cream, yogurt, and soft cheeses after four hours at 40 degrees or higher. Butter and margarine, as well as hard and processed cheeses, should be OK.
Toss mayo, tartar sauce, horseradish, and creamy dressings after eight hours at 50-plus degrees. Vinegar-based dressings, along with ketchup, barbecue sauce, peanut butter, and soy sauce are likely fine. One obvious tip to simply read the label – if it says “refrigerate after opening” and it is hovering at 70+ degrees for a day or two, the best practice is to throw it out.
Refreeze food that still contains ice crystals, or is still below 40 degrees.
Dispose of all food that has come in contact with flood waters or firefighting chemicals. Even if it looks unharmed, it could still be unsafe and – to a lesser extent – taste terrible.

We know it’s frustrating to have to throw out food, so try this simple trick to potentially help preserve it for longer: When the power goes out, keep the fridge and freezer doors tightly shut. The longer you keep them closed, the cooler they stay. If available, get a cooler and ice and salvage what you can, being careful to make sure the cooler stays cold.

Having appliance thermometers in your fridge and freezer, as well as picking up a food thermometer, will help eliminate some guesswork. Additionally, maintaining a nonperishable food supply in a safe place – somewhere cool that’s not susceptible to flooding – means you’ll have something to eat no matter what. Be sure to replace items as they expire or get used.

As for the cost of all that spoiled food? Your homeowner’s policy may help. If the value of the damages you claim is less than your deductible, you won’t have any coverage. However, if you have both home damage and spoiled food, filing a claim is the way to go. Give us a call at 314.434.0038 to discuss your options.

Four Things to Consider When Insuring a Vacation Home

June 23, 2016 Karen O'Connor

Everyone loves vacation. But, vacationing in your own seasonal home? Even better.

However, there’s a lot to consider when it comes to protecting your investment in a vacation home, and you definitely want to protect it.

To that end, here are four things that may impact the coverage you choose and how much you’ll pay for it:

Separate Policy: Your seasonal home won’t be part of your primary property policy. It needs its own policy, and you can expect it to be similar to the one for your primary residence. However, you do need to watch out for “named perils” coverage, under which your policy explicitly lists the perils it will cover. If a peril isn’t listed, no coverage. We typically steer homeowners away from this type of coverage, in favor of broader coverage.
Location and Occupancy: The “where” of your vacation home is no doubt among the primary reasons you bought it. But, it will also impact your insurance costs. Rural areas are hard for emergency responders to reach, and waterfront homes are prone to flooding. These added risks can mean added insurance costs, such as the need for a separate flood policy. If the home is unoccupied or rented for much of the year, there are even more insurance considerations.
Personal Property: Establishing and maintaining a separate inventory of the things you keep at your vacation home will help you select an appropriate level of personal property coverage. If it’s filled with expensive skiing and snowboarding gear, for example, you may need increased coverage or to schedule some of the more valuable items separately.
Extra Liability Protection: If you plan to regularly host guests at your summer or winter retreat, you should consider an umbrella policy, which will help to increase your liability limits in case someone is seriously injured on your property. This can go for invited and uninvited guests alike.

We know you want to relax and enjoy your chosen spot in the sun – or snow. Having the right insurance coverage helps you do just that, so don’t hesitate to reach out to your agent at O’Connor Insurance at 314.434.0038.

Spring Flood Prevention and Safety

May 10, 2016 Karen O'Connor

If living in the Midwest has taught you anything, it is that the weather can change in an instant – a gorgeous spring day can turn to risky storms in a matter of minutes. Even if you live in an area that you think isn’t at risk of flood damage, preparation is just as critical as with other types of emergencies.

Before we get into how you can prevent, limit or react to flooding, it’s important to note that flood damage is typically not covered by your homeowners or renters insurance. There are separate flood policies available to everyone, whether or not you live in a flood plain. If you do not live in a flood plain, the cost is much less. Your agent at O’Connor Insurance can provide a quote and discuss this with you. Just give us a call at 314.434.0038.

Preparing for a flood

The Federal Emergency Management Agency recommends a number of steps to stay safe during emergencies and limit damage from flooding. You should:

Build an emergency kit for your family with drinking water and nonperishable food for each member of your family (two-week supply), flashlights, a radio, extra batteries, a first-aid kit, necessary medications, personal hygiene items, and copies of important documents.
Create a communication plan so family members can reach one another, and practice that plan before an emergency (especially for families with younger children).
Elevate your furnace, water heater, and electric panel in your home if live in an area with a high flood risk.
Consider installing “check valves” to prevent floodwater from backing up into the drains of your home.
If possible, construct barriers to stop floodwater from entering your home and seal basement walls with waterproofing compounds.

Acting during a flood

If a flood is likely in your area, quick action may be necessary to protect your family and property. You should:

Get information from the radio or television.
Move immediately to higher ground if there is any possibility of a flash flood. Do not wait for instructions to move.
If you need to evacuate, secure your home and move essential items to an upper floor. Turn off utilities if instructed to do so, and disconnect electrical appliances. However, do not touch electrical equipment if you are wet or standing in water.
Do not walk through moving water – it can make you fall. Use a stick to check the firmness of the ground in front of you.
Do not drive into flooded areas. If you are caught in your vehicle in floodwater, abandon your car and move to higher ground if you can do so safely.
If you have evacuated your home, do not return until authorities give you permission.

Coping after a flood

Flooding can cause emotional stress along with physical hazards, so be mindful of your own well being and temperament. After the flood clears, there are a few things to consider and resources available to you:

Floodwater can be contaminated by oil, gasoline, or sewage, so avoid contact as much as possible.
Make sure your city’s water supply is safe to drink.
Clean and disinfect everything that was in contact with floodwater.
The Red Cross has a free book available called “Repairing Your Flooded Home,” which contains useful information as you clean up. It’s available at redcross.org.
If you have flood insurance, contact the claims center of your provider as soon as possible.

Flooding is one of the most common hazards in the U.S., both in the flood plains and out of them, as we sadly learned last December when record-breaking floods swept through the St. Louis area after 6-12″ rains. So make a plan for it. Don’t be caught off guard when the water level starts to rise.

Spring Cleaning Tips from O'Connor Insurance

May 3, 2016 Karen O'Connor

Spring is a time for new beginnings. For most of us, that means cleaning and organizing our homes. If you’re ready to tackle that monumental chore, take into account the tips below. (And if you’re so tidy and organized throughout the year that spring cleaning isn’t a big chore for you, well, keep that to yourself! Unless you want your friends and neighbors to be jealous, that is.)

Take it one room at a time. Deciding to clean or organize your entire home can quickly get overwhelming. If you focus on just one area or room, then move to another only when you’re finished, you’ll likely work more efficiently (and save yourself a headache).

Follow the six-month rule. Generally, if you haven’t used something in six months (with the exception of seasonal items), it’s a good idea to consider throwing it away or donating it. With regards to clothes, try this trick – have all of your hangers facing the same way. When you wear something, turn the hanger around. The hangers that have not been turned go to the donation pile.

Don’t forget the kitchen. Just like other rooms, your kitchen likely has things that haven’t been used in some time and this includes food in the refrigerator, freezer, and pantry. Check the dates on everything and be honest about what you will actually eat. Donate anything that is still good that you know you won’t eat. Give those appliances a thorough cleaning and get rid of anything you won’t be eating.

Set yourself up for success. Paper clutter is something we all could probably cut back on pretty easily. Setting up a few recycling bins throughout the house gives you a convenient alternative to just setting that old magazine or paperwork down somewhere and watching the pile grow. If you are feeling particularly ambitious, consider digitizing paperwork.

Make some money! Of course, the spring cleaning garage sale is a tradition for many homeowners, and can be a great way to bring in some extra income. Talk about a win-win situation you get rid of stuff you don’t need, and someone pays you for it!

Stay safe. When you’re cleaning or maintaining your home, be mindful of the physical risks involved. Lift with your leg muscles, not your back. Avoid prolonged repetitive motions. Use ladders, lawnmowers, and other dangerous tools with caution.

However you choose to clean up your act this spring, enjoy! If you are thinking about reviewing your insurance coverage as a part of your organization spree, please contact one of our independent insurance agents at (314) 434-0038.

Natural Disasters Don't Have to Mean Disasters for Homeowners

April 21, 2016

What if your home was devastated by a fire, wind or other natural disaster? Are you certain your insurance would cover enough of your home to rebuild at today’s construction costs?

Sure, thinking about the aftermath of a catastrophe is no fun, but consider the alternative. If you don’t plan ahead and consult with your insurance agent to make sure your home is adequately covered before the catastrophe strikes, you could find yourself having to pay $50,000, $100,000 or more to make up for shortcomings in your homeowner’s policy afterward.

Every insurer offers its own coverages, its own limits and its own pricing. That’s where an independent agent can help you…we can shop around for you and find the best and most comprehensive coverage for your money. Plus we have experience dealing with all sorts of claims, so we can advise you on what types of coverage best suit your needs.

Some suggestions to consider when evaluating your homeowner’s policy – some companies offer guaranteed replacement costs. This helps because the insurer promises to rebuild the home at today’s building costs. Also, you should take into account special features of your home like hardwood floors, a newly-renovated basement or a pool in the backyard, as well as all other improvements you have made over time.

Another tip – some insurance companies offer “ordinance-and-law” coverage at an additional cost. That means if your house is damaged, the new construction of the damaged portion of the home will meet current building ordinances in your area, even if the home wasn’t built that way initially. Without this coverage, some companies may only pay to rebuild your house the way it was, which in many instances may no longer be legal accordingly to current building and municipal codes.

There are many things you need to consider when you evaluate your homeowner’s policy to make sure you have the right coverage. When evaluated properly, your coverage will give you the peace of mind to know you won’t be left out in a storm after a disaster.

If you have questions about your homeowner’s policy, please call your independent insurance agent here at O’Connor Insurance Agency. Our number is 314-434-0038.

Improvements, Updates, and Renovations can Change Your Insurance

March 17, 2016 triplestrength

Our homeowner and condominium owner clients take great pride in their homes and communities. All over our region, they make investments in the beauty and livability of their respective homes. When you make a renovation or an update to your home, do you check with your insurance agent?

Improvements Can Lower Premiums – Making changes to your home that reduce the chances of damage and loss can change how much you pay in premiums. Your choice of roofing may lower the risk of wind damage. Updating electric may lower the chance of fire. Plumbing updates can work to prevent flooding. Many carriers offer discounts for security systems. These can all be factors for the rates you pay for insurance.

Increasing Your Home’s Value – If your home improvements have substantially raised the value of your home, it is prudent to have your insurance agent review your coverage. That new kitchen, new addition or wonderful home theater should be covered just like the older features of your home.

When reviewing your coverage, consider the difference in the cost of actually restoring your home may have gone up (see our blog Insurance and Replacement Cost) and your coverage should reflect that. Our team at O’Connor Insurance Agency recommends periodic review of your coverage so that you know your family will be made whole should there be a loss.

Your independent insurance agents at the O’Connor Insurance Agency are interested in helping you get the best value for the coverage you need. Please contact one of our independent insurance agents at 314-434-0038.

Insurance and Replacement Cost

October 5, 2014 triplestrength

One of our clients suffered a total loss after a fire in their home. The fire began in their garage and swept through their 1980s era ranch. What the fire did not destroy, water used to douse the flames ruined. Even the foundation was damaged.

As the reconstruction of their home was planned, the client discovered that rebuilding the home with modern materials would actually cost more than the original value of the home. Would rebuilding the home be covered with the insurance settlement, or would they have to budget for a new mortgage?

Our client asked a smart question. Material and labor costs can fluctuate. During a housing boom, the cost of lumber, plywood and other materials can go up as demand for these materials inflate. Hiring skilled labor during busy times can drive up costs as well. It is not unusual for the cost of replacing a home to jump up well beyond the home’s appraised value. Housing codes change as well, and what is allowed today may cost more than was allowed in the past.

Most mortgage companies require you carry enough insurance to at least cover what is owed on the property. A good agent will encourage their clients to carry enough insurance to cover replacement costs. That said, there are at least two ways replacement costs can be insured, and the type of coverage you choose will guide how you manage your insurance.

Guarantee Replacement Cost – This kind of coverage will insure the home against loss so as to completely replace what was destroyed. In the event of a loss, and less the deductible, total construction and material costs will be paid, regardless of the dwelling limit on policy. This is the ideal coverage. The total rebuilding costs of a home appraised at $250,000 would be covered by the insurer no matter how much the costs exceeded the apraised value.

Extended Replacement Cost – With coverage of this nature, the insurance company will cover a percentage of reconstruction costs above the value of the home. Typically, this percentage is in the range of 20-30%. Rebuilding costs for a home that appraised at $250,000 would be covered up to $300,000 to $325,000.

Many insurance companies are no longer offering full replacement cost policies in favor of extended coverage policies.

For homeowners, this change in how policies are structured means they should have regular reviews of the value of their home and the cost or reconstruction in their market. If reconstruction costs have risen, the homeowner and their agent should adjust their coverage to make sure that their likely replacement cost falls safely within their coverage.

Those who are insured for full replacement cost have less to consider from year to year as their home. Budget conscious homeowners may save money on premiums by switching to an extended coverage policy.

The independent agents of O’Connor Insurance Company can help you identify possible gaps in your coverage. If you would like to review your coverage, contact us and we will be happy to help.

Please contact one of our independent insurance agents at 314-434-0038.

Have You Made a Home Inventory?

June 18, 2014 triplestrength

You and your family are sitting on the bumper of a fire truck. You kids are wrapped in one of those bright yellow emergency blankets. The smoke alarm alerted you in plenty of time to get out of the house, but the smell of fire permeates the neighborhood. The senior firefighter on the scene walks over to you and tells you that the house has been severely damaged and you will not be able to occupy it that evening.

You have insurance, and the home will be restored. You also have had the foresight to get full replacement value for your personal items. However, after you can safely examine what remains of your home, you realize that you have accumulated a great many things. You look around. You see the remains of a lamp. Where did you get that? Was it a gift? How much was that painting worth? Do you remember who the artist was? What was the name of the silverware pattern you kept in the buffet that is now just charred rubble?

Perhaps instead of a fire, your home was burglarized. In that case, you do not even have damaged remnants of your possessions – just a ransacked home.

Savvy homeowners will inventory their household goods from time to time. In the past, photos and paper ledgers listed the things one owned. These days, there are cell phone applications that allow you to keep a running inventory along with a photo, and even the old ledger and snapshots can be done online, safely storing your information should the need arise.

Taking your Inventory – Ideally one has receipts, but most insurance companies will accept your inventory as proof of ownership when you file a claim. The most important thing is to make sure your inventory captures the data your insurance carrier requires in order to file a valid claim. Check with your insurance agent to learn what is required. Among that data you will find helpful is:

Location – Where was the item located in your home (living room, kitchen, garage)? While not required for the insurance company, but handy to have to help organize your inventory.
Description – What was the item? Record the name and brand as well.
Model – Keep a record of what model of an item you have.
Serial Number – If the police find a suspect in a theft, the serial number may be how they tie them to the crime in your home.
Date Purchased – This will help determine how much depreciation will be applied.
Where Purchased – A helpful note when you go to replace it. Name the store or website where purchased.
Warranty – As long as you are recording information, indicate how long it is warranted!
Price – Indicate how much you paid for the item.
Condition – Especially important for collectibles, but you want to indicate what condition an item is in as you inventory it.
Estimated Value – Also important for collectibles. If you have an idea as to the market value of an item, make a note.
Notes – Have a column where you can add any additional notes relevant to your item
Photo – A nice photo of your property will go a long way to establishing ownership and condition. You may want to take multiple angles, such as both sides of a fine china plate so as to record the hallmark and pattern.

Taking an inventory before a loss allows you to record serial numbers, brand names and other information to allow your insurance carrier help you replace those things you lost. In the event of a theft, identifying marks like a unique serial number may even help the authorities catch the thief. Finally, from time to time, add and remove items to your inventory to keep it up to date.

Online, Electronic or Offline – The disadvantage of a ledger of your possessions is that if you keep it in your home it could be destroyed along with your belongings. That said, there are inexpensive fire-resistant lock-boxes and safes that can mitigate this danger, and may even be a smart place to keep irreplaceable belongings and documents. If you have a safe deposit box, you can keep it there, too.

Online inventories have the advantage of being available anywhere at anytime, but their availability is dependent on that particular firm remaining in business. It would be dreadful to need an inventory in an emergency only to learn the website is no longer available. Choose an online service that you are confident will be around for a long time, or allow you to keep offline backups.

However you do it, make sure before you invest a great deal of effort that your application or offline method is able to accommodate all the information your insurance requires.

Microsoft Excel has a home inventory template you can use to make a spreadsheet of your possessions. Google Drive does as well. Once finished, you can keep the electronic version on your local computer, as well as leave it in a “cloud drive.” You can save a copy to a flash drive, CD Rom and, along with a printout, keep it somewhere safe.

We certainly hope nobody suffers a loss due to flood, fire, storm or theft, but that’s why we have insurance – because it could happen. We install smoke alarms, pay attention to the weather, and lock our homes to protect our property. A home inventory is just another smart step to protect our investments. If you have any questions about the coverage for your personal belongings, call one of the independent insurance agents of O’Connor Insurance at 314-434-0038.