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If you file a homeowners or auto insurance claim, you will usually have to pay a deductible and the insurance company will cover the remaining cost of the claim. Insurance policies with higher deductibles typically have lower monthly premiums. Raising your deductible may be a smart move in some cases, but its not the right choice for everyone.

How Could Raising Your Deductible Save You Money?
A policy with a higher deductible is less risky for an insurance company since the insurer pays less for claims. Therefore, the company charges lower premiums. In some cases, the savings are substantial. The amount you can save would depend on the insurance company, your coverage options, your driving record and claims history, and where you live.

Can You Afford the Deductible?
A policy with a higher deductible may shield you from catastrophic losses, but it would increase your out-of-pocket expenses if your home or vehicle got damaged. Only choose a policy with a high deductible if you could afford to pay it.

If you have a limited income and little or no savings, you could find yourself in a tight spot if you need to file an insurance claim. If you cannot cover the deductible or borrow money from family or friends, you may be unable to make vital repairs. Not fixing your car could endanger you and others or leave you unable to get to work. Neglecting home repairs could threaten your familys health and safety and could lead to even worse damage.

An incident, such as a severe storm, could damage both your home and car at the same time. In that case, you might need to pay two deductibles. Ask yourself if you can afford that.

Can You Cover Small Repairs Yourself?
With a high-deductible insurance policy, you can only submit a claim if the amount of your loss was greater than the deductible. You would have to pay for minor repairs yourself. The costs of several small repairs can quickly add up. Think about whether you could afford these repairs.

Explore Your Options
Request quotes from several insurance companies for policies with the same coverage options and a variety of deductibles. This will allow you to make an apples-to-apples comparison and choose an insurance policy and deductible that are right for your circumstances. You may also be able to save money by bundling your home and auto insurance policies and by asking if you qualify for discounts.

Be Prepared for the Unexpected
Your home or car may be damaged at any time, so be sure you have enough money set aside to cover your insurance deductibles. If you dont, put money in a savings account so you will be able to pay a deductible if necessary.

Published with permission from RISMedia.

Here are a few ways that smart lighting can improve your daily life.

Boost Your Energy Levels

Lighting systems can align with your circadian rhythm and mimic natural light throughout the day, which can help maintain your sleep schedule naturally.

Energy Efficiency

By utilizing energy-efficient LED bulbs, smart lighting systems use significantly less energy than traditional lights.

Take Control

Being able to control your lights from anywhere via your smartphone is an extremely handy feature.

Mood Lighting

Smart lights are an excellent way to set the tone for any occasion, be it a formal dinner party or a night in with a book.

Published with permission from RISMedia.

A pool can be a relaxing place to spend time with family members on a hot summer day. Sometimes a pool is worth the investment and sometimes it isnt.

How Much Will a Pool Cost?
Installing a pool can easily cost tens of thousands of dollars. Routine maintenance can cost several hundred dollars per year if you do it yourself and much more if you hire professionals to handle it. You also have to factor in electricity to run a pump and heater.

A pool might be included in your other structures homeowners insurance coverage, but you should check with your insurance company about any additional costs. Since a pool is a potential danger to children, your insurer may require you to install a fence with a locked gate around it to prevent an accident. You may also have to increase your liability coverage.

When Is Installing a Pool a Good Investment?
An in-ground pool can add to your homes value, but an above-ground pool most likely will not. If the area around an in-ground pool has a patio that is large enough to host a barbecue and has flowers and greenery, potential buyers could view it as an oasis.

If most of the houses in your neighborhood have pools and your home doesnt, that can be a liability if you decide to sell your home in the future. Adding a pool can help you compete with other sellers in the area to attract a buyer.

In an area that has warm weather for the bulk of the year, many prospective buyers will have a pool on their wish list. Some might not even consider a house that doesnt have one.

When Will a Pool Not Add to Your Homes Value?
A pool may not be as important to buyers in parts of the country where its only warm enough to go swimming for a few months each year. In fact, some buyers think that a pool would be too much trouble to maintain and avoid buying a house that has one.

Adding a pool may not be a good idea if you have a small yard. A pool will either be too small to appeal to buyers or it will take up so much of the yard that there will not be enough room for kids and pets to play. In that case, a pool can drive away potential buyers with families. Some buyers, particularly those with young children, might also view a pool as a safety hazard.

Should You Install a Pool?
A pool may or may not increase your homes value. It will depend to a large extent on your location. If a pool raises your homes value, you will recoup some, but not all, of your investment. Resale value is one thing to consider if youre thinking about installing a pool, but you should also think about how much your family would use it and how much time and money it would cost to maintain it.

Published with permission from RISMedia.

State laws require sellers to disclose problems with a house to prospective buyers. If you are legally required to disclose an issue and you dont, the deal may fall through or you may be sued after the buyer learns that you covered up the problem.

What are Sellers Required to Disclose?
Laws on which facts sellers are required to disclose to potential buyers vary from state to state. In general, sellers must reveal information that could affect a homes value.

Some states require sellers to disclose a death that was not due to natural causes that occurred on the property. Others require disclosures about a death caused by the condition of the property.

A variety of state laws require sellers to disclose nuisances, such as noise and odors. Depending on where you live, you may be required to reveal the presence of hazardous substances, lead paint, drainage problems, previous water damage, the risk of natural disasters, pests or paranormal activity.

If the house is missing any appliances or key components that a buyer would expect, you should disclose that. If you had the house repaired, you should inform potential buyers because they may want to have the home inspector focus on those areas to make sure that the repairs were performed correctly. Buyers may also want the inspector to check for other problems that might be related to the issue you had repaired.

If the house belongs to a homeowners association, you should disclose that. If you dont, a buyer may be confronted with unexpected fees after moving in.

Dont Try to Cover Up Potentially Damaging Information
If you fail to disclose material facts to a potential buyer as required by your states laws, the buyer may discover the information independently and may decide not to buy the house. Then you may have to relist your home and start looking for another buyer. You may also have to delay your move or continue to make mortgage payments after you have moved into your new home. If the sale goes ahead and the buyer learns that you failed to disclose important information after moving in, the buyer may sue you.

Your real estate agent can tell you what facts your states laws require you to disclose. He or she may give you a form with a checklist or a series of questions to complete. Even if a disclosure is not legally required, it may be in your best interest to be up front about it so you wont have to worry that a potential buyer might back out of the deal later. If you have any questions, talk to your real estate agent.

Published with permission from RISMedia.

Though it is common to stage a home for in-person showings and listing pictures, there may be a house you visit or view that has some unique, even borderline odd features from the current residents. Agents will always suggest that homeowners looking to sell should clean and declutter their homes, however, this is not required. Unfortunately, these things can become distracting, especially when you love the layout, location and style of the home itself. Here are a few strange, ugly and even unsightly things you should ignore when considering making an offer on your next home.

Uncommon Uses for Rooms
Many homeowners will turn spare bedrooms into offices or dining rooms into gyms. Some may even use these spaces in stranger ways. But just because they use these rooms for strange or unusual reasons doesnt mean you have to. If you come across a home you like, but the current homeowner utilizes space in a different way, try and remember that you can make it into anything you desire once its yours.

Off-Putting Wallpaper or Paint Color
Though many buyers, especially millennials, prefer a turnkey or move-in ready home, the reality is, that is not guaranteed. This is especially true when viewing an older home or one that the current homeowners have lived in for many years, even generations. It is important to look past the outdated floral wallpaper or an unusual paint color. These are things that can always be tackled later on. Painting or replacing wallpaper doesnt have to be time-consuming or expensive, and can be done before moving in.

Dirty Floors and Carpets
Similar to the walls, floors can have a prominent effect on a buyers view of a home. If a wall-to-wall carpet is excessively dirty or stained, this may steer you away. Same goes for a hardwood or tile floor that may be old and outdated. However, these are easy changes. New flooring and carpeting or a deep clean may be the answer to making this space exactly what you want. Consider speaking with the sellers about replacing a damaged or stained carpet, or lower your offer as a contingency for purchasing the home. Just be sure to not let this steer you away.

Obvious Personal Presence
It can be difficult to imagine you and your family living in a home where there are multiple family portraits and other personal belongings strewn across a home. However, if the seller decides not to remove these items, buyers may need to look past them in order to obtain their dream home. The same thing can be said for messes, as many buyers may not feel comfortable getting into closets and cabinets surrounded by the seller’s clutter. Do your best to ignore the things you can change later on and decide whether or not you can make this house your home.

Published with permission from RISMedia.