Housing values have plummeted throughout the United States.
The pace of existing-home sales dropped more than 8 percent from January 2008 to January 2009, reported the National Association of Realtors. Home values declined for 76 percent of all U.S. homes during 2008, estimated Zillow.com. And housing prices have fallen in 70 percent of all metro areas over the past several years, according to Moody’s Economy.com. What’s more, the rate of new-home construction is now at its lowest in 50 years, noted the U.S. Census Bureau and Department of Housing and Urban Development.
Scurich Insurance also sees what’s not going down, though, is the cost of rebuilding and repairing houses. Construction costs rose by more than 4 percent between 2007 and 2008, according to a report in Best’s Review magazine citing Reed Construction Data figures.
Rising reconstruction prices are contrary to the economic news of recent months. And it’s contrary to consumers’ expectations that lower home values should mean lower homeowners coverage is needed.
What’s more, homeowners are already cutting back on insurance expenses. Nearly one in four households already have changed their insurance coverage in the past year to reduce costs, according to a recent survey by the Independent Insurance Agents & Brokers of America (the Big “I”) and local Trusted Choice® member agencies.
With these conflicting pressures, what should a homeowner do? The first thing: Recall what homeowners insurance is designed to do.
Insurance should “make whole” the policyholder after loss or damage to the home from an unforeseen event such as a fire, lightning strike or windstorm. In the case of rebuilding a home, “making whole” means rebuilding the same or similar structure.
When a home is damaged or destroyed, there are several issues that factor into its repair or replacement cost:
- Debris must be removed and discarded.
- Lumber, concrete, and other building materials are in demand on the worldwide market, even if demand is slumping in the United States.
- Building materials are purchased for just one home, not on a large-scale basis as is for most housing developments.
- fuel costs, a big part of construction costs, are higher than just a few years ago.
- Natural disasters in the United States have left a shortage of building materials and labor in certain areas.
- Homeowners want to get back into their home as quickly as possible, and speed drives up costs.
If you would like more information on Scurich Insurance and how you can save money on your homeowner’s policy without jeopardizing coverage, we have a great website
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Hurricanes are one of nature’s largest and deadliest kinds of storms. These giant storms usually form during the warmer spring and summer months, and can have a profound effect on human lives and property. A hurricane forms over warm water, and changes in water temperature and air pressure cause it to grow in size and strength. The most recent tragic hurricane, Katrina, was one of the worst in United States history. In order to properly understand and prepare for how to deal with a hurricane, one must know the science behind them and preparation tips.
Scurich Insurance understands that sometimes it is harder to protect yourself from natural disasters than what it seems that why they want you to have these tips to help you stay safe! It is essential to stay safe during a hurricane, and there are several things people can do to be prepared. First, make sure your car has plenty of gasoline in the event of a mandatory evacuation. Prepare a hurricane readiness kit with a flashlight, handheld radio, plenty of batteries, prescription medication, fresh water, and non perishable food. Expect power to be out in your area for several days, if not weeks. Flooding is also a possibility so find out about your home’s insurance policy. Always have ice and food available to you in the event of an emergency storm. Stay away from windows and glass, and away from objects that can fall on top of you. Remain calm, and have an exit plan or a plan of what to do next in the event that a hurricane strikes your area. Speak with your homeowners insurance agency to see if they have a comprehensive guide available to help better prepare you and your home.
If you haven’t checked your Home Insurance coverage levels lately, now’s a good time to do it.
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I enjoy making my customers happy by providing the best insurance service I can. I also want to make sure that those who do not know about my Insurance realize how it can help them! So please, if you would be willing, go to my fan page on Facebook and “Like” me. Together we can get the word out about what a great Insurance Agency Scurich Insurance is! Also, if you have a business on Facebook that you want me to help you promote by “Liking” It I would love to do so. Let me know!
Thanks and have a great day!
-Tony Scurich
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Defective electrical wiring systems cause approximately 40,000 residential fires annually, according to a United States Consumer Product Safety Commission (CPSC) study. In addition, electric cords and plugs are involved in about 7,000 fires annually. The National Electrical Safety Foundation offers numerous tips to safeguard the home against electrical fire and related losses, including the following.
- Verify that outlets and extension cords are not overloaded
- Examine electrical cords to ensure they are not frayed, damaged, or placed under rugs or carpets.
- Verify that the proper wattage bulbs are being used in light fixtures and lamps.
- Consider installing ground fault circuit interrupters (GFCI) in bathrooms, utility rooms, and kitchens. This device protects people against electrocution by shutting down the electrical system if it detects any imbalance in the electricity.
Take steps to safeguard electrical appliances from power surges. A power surge is a sudden rise of current or voltage in an electrical circuit that can last up to several seconds and can ruin electrical appliances and equipment, such as computers. Note that computer chips are now in many of the appliances you plug in. You can purchase surge protection devices to safeguard against this problem.
Consider updating the entire electrical system if the home is over 40 years old. Older homes are more susceptible to electrical fire. For example, many older homes contain aluminum wiring, which is much more likely to start fires than the copper wire required by modern building codes.
Install child tamper-resistant electrical outlets to prevent a child from inserting something into the outlet holes.
Install arc fault circuit interrupters (AFCI) to avoid fires caused by arc faults. An arc fault is a discharge of electric current across a gap. This can be caused by improper electrical connections, pinched wire insulation, and overheated wires.
Note that many insurers offer discounts for some of these electrical safety improvements. Please call for details.
If you would like more information on Scurich Insurance and what services we can provide for you, we have a great website!
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Scurich Insurances can provide commercial packages, farm bureau discounts, farm packages, workers compensation, professional liability, umbrella, group benefits group life & health personal auto , home, life, health and much more. We can also help you plan wisely and guide you in the evaluation of risk management, We serve Watsonville, California and surrounding areas. We represent over 50 Insurance carriers to better protect your business.
Scurich Insurance Services has been serving the Monterey Bay Area since 1924. Our mission is to partner with our customers and provide them superior service and value. We are a member of United Valley Insurance Services, Inc., a cluster of over 70 California Independent Insurance agencies, which produced over $530,000,000 of annual premium last year.
At Scurich Insurance Services we understand your business and our community. Our customers look to us for comprehensive solutions. We have established relationships with more than 40 of the nation’s leading insurance providers, which allows us to deliver multiple, competitively-priced options and a team of experts to guide you through the process.
When you need to file a claim, change a policy or process a certificate you can depend on Scurich Insurance Services to respond quickly to your request.
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The agricultural insurance market is facing rising demand along with pressures to adapt to changes in farming and to become more efficient in delivering products.
Increasing world demand for food is driving up commodity prices for corn, soybeans, wheat and other food staples. At the same time, the U.S. farming economy is strong, the federal crop insurance program is being changed and today’s farmers are getting bigger and adopting new technologies.
These and other trends promise to affect crop insurance, farmowners and agribusiness insurance, creating challenges as well as opportunities for insurers that develop more sophisticated insurance products and work hand-in-hand with agribusinesses and farmers.
The U.S. has long enjoyed the least expensive food in the world with just 6.2 percent of Americans’ average income spent on food. In China, the average is 32.9 percent of income. This illustrates a need to decrease the cost of food per capita and increase the standard of living in other parts of the world.
The U.S. Department of Agriculture (USDA) has reported that demand for corn has pushed U.S. supplies to their lowest point in 15 years. A recent Associated Press story blamed projected corn futures orders from the ethanol industry and noted that low supplies of other food staples from wheat to coffee are contributing to the upward surge in world food prices. The United Nations food agency has warned that a severe drought in China is also expected to drive wheat prices higher.
If you would like more information on how Scurich Insurance can help your Agriculture Business, click this link for their website, click this link to connect with them on Facebook.
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