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If you file a homeowners insurance claim, youll have to pay a deductible before the insurer will pick up the tab for the remaining cost. Homeowners policies sometimes have several deductibles that are different amounts and that apply in different situations.

Types of Homeowners Insurance Deductibles
Some homeowners insurance policies have deductibles that are just a flat amount or just a percentage. Others have split deductibles, which means that a dollar value applies in most cases, but a percentage applies in some specific circumstances.

With a split-deductible policy, most perils are subject to a deductible in the form of a dollar amount. Deductibles for claims related to wind, hail and hurricanes are a percentage of the houses insured value. Guidelines on when hurricane deductibles apply depend on each states insurance regulations. Usually, storms must be officially declared or named by the National Weather Service.

Deductibles for flood insurance can be a dollar amount or a percentage, depending on the state and insurance company. Earthquake insurance deductibles are available in a range of percentages. If a homeowners insurance policy includes endorsements for things such as water backups, service line coverage and equipment breakdowns, they may be subject to a separate deductible.

When Youll Have to Pay a Deductible
If you file a claim for more than one type of loss, such as damage to your house and personal property replacement, in most cases you will only have to pay one deductible if all the losses were caused by the same event. You wont have to pay a deductible for liability claims.

How to Choose the Right Deductibles
Generally speaking, choosing a higher deductible will result in lower monthly or annual premiums. When you select a deductible, make sure its one you can afford. You might enjoy lower premiums, but if you had to file a claim for major damage and couldnt afford your deductible, you might have to scramble to find a source of funds or get stuck living in a damaged home.

Choosing the right deductible is particularly important if you live in an area prone to severe weather and your deductible for those types of losses is a percentage of your homes value. In that case, your deductible could be tens of thousands of dollars. You might be better off paying more in premiums to avoid a large out-of-pocket expense.

Look for Other Ways to Keep Your Premiums Affordable
If youre concerned about the cost of your homeowners insurance premiums, there are other ways to stick to your budget. Insurance companies offer several discounts that can help customers save money and many people qualify for more than one. You may get quoted reduced rates if your home has safety features, if you bundle multiple policies and if you meet other criteria. Discuss deductibles, discounts and premiums with an insurance representative or with your agent.

Published with permission from RISMedia.

A clean home is an inviting home. Whether you are naturally a neatnik or your true nature involves leaving your socks on the floor, theres no doubt that a cleaner home brings a sense of calm and allows us to achieve our daily tasks, quicker and easier.

If you are looking for a way to curb your naturally messy ways without succumbing to an overwhelming cleaning schedule, youre in luck. Pairing your daily cleaning checklist down to a handful of vital tasks can provide a sense of tidiness without costing you all your spare time. This list separates the main areas of the typical home, allowing you to truly divide and conquer.

Kitchen
Its said that the kitchen is the heart of your home, and it takes the first spot on the list because it is the area that gets subjected to daily grime the most. From dirty dishes to sauce splatters on the stovetop to juice spills on the counter, your kitchen has seen it all.

Take 15-30 minutes each day to tackle these tasks:

Load dirty dishes into the dishwasher.
Quick-wipe counters.
Wipe up problem areas on stovetop or floors.
Rinse and wipe down the sink.

Living Room
Your living room is likely the space that you spend the most time… well, actually living in. This means it is a magnet for clutter. When it comes to the living room, a little care can go a long way to ensuring that you arent stuck spending hours cleaning it up later.

Every night, devote 10 minutes to:

Clear away any clutter that has accumulated.
Straighten cushions and throw pillows.

Bathroom
Like your kitchen, your bathroom has its own tendency to accumulate daily grime. From soap scum to toothpaste specks, there are areas that can get gross quickly. While a deep cleaning is needed weekly, a daily wipe down can make your regular cleaning fuss-free. Take a few minutes each day to wipe the counters and any problem areas with a sanitizing wipe.

Bedroom
The bedroom is often where the clutter of the day finds a resting place. Yet, if you want a comfortable rest, keeping your bedroom free of pileups is key. Devote 10 minutes to do a quick tidy of your bedroom each evening”you will be surprised at the impact it has

A few easy tasks can have far reaching effects and will make deeper cleaning a breeze down the road.

Published with permission from RISMedia.

Do you have a busted door knob or want to change the locks after buying a new home so you can be sure that only you have the key? Thankfully, replacing a door knob isnt that hard or expensive, and you dont need a locksmith to get the job done.

You can buy a door knob kit relatively cheap from any home improvement retailer or your local hardware store, or simply order one online and it will be there in no time. And dont think you need all day to get the job done. This is something that even the most inexperienced handyman can do in under an hour”probably under 30 minutes.

Here are some step-by-step instructions in making sure you do the job right:

Take off the damaged door knob
Get a screwdriver and undo the mounting screws on both sides of the know. Many times, the screws are concealed, but you should be able to find the shank of the interior doorknob where there will be a tiny slot or hole. Push the tip of a narrow-blade screwdriver or nailset into the hole, tug on the knobs (both sides) and they will slide right off. Then pry off the round decorative plate, called the rose, to expose the screws that hold the lockset onto the door.

Remove the Latch Plate
The first thing you need to do is unscrew the two screws from the latch plate on the inside of the door, enabling you to easily pull the latch out. Whether you are working with a dead bolt on a front door or just a simple bedroom door, the process is the same.

Add New Latch Plate
Next, insert the new latch plate on the inside edge of the door where the old one was just removed. The tapered side of the turning lock should be facing the strike plate on the door frame. Then, secure the new latch plate in place.

Add Door Knob
Put on your new door knob (one side at a time), by bringing the spindle through the latch and centering it so both sides are equal. Secure the knobs on both sides and screw in the new plate. Once done, test to ensure it works from both sides.

Polish
Finish the job by polishing your new door knob so it looks great.

Published with permission from RISMedia.

A property tax bill is easy enough to get. Local governments typically assess property tax and send homeowners a bill in the mail. Paying the tax, and saving for it, are the hard parts.

The amount of the tax is largely based on where the property is and how much its worth. They can easily be thousands of dollars and can usually be paid in two installments over one year.

There are a few ways to save for the average property tax bill in the U.S. One of the easiest is to spread the payment out over 12 months with your monthly mortgage payment. This is called an escrow account, where the money is held and automatically paid to your tax collector. Homeowners insurance payments can also be paid into an escrow account, and by paying both bills on time, youll avoid penalties.

One possible drawback to this is that if youre not paying enough to your lender to cover the entire property tax bill, the financial institution will still pay your tax bill in full on your behalf and send you a notice of the shortfall. You may be required to pay it all at once, or the shortfall amount may be spread over the next year. Some banks may charge interest and fees to do this.

If the opposite happens and too much money is collected in the escrow account for taxes, the bank may send you a refund or lower your tax payment for the coming year.

Another option is to set up a separate savings account yourself and deposit money for your property taxes automatically each month. This allows you to keep your money as long as possible until the taxes are due and collect interest on your money before paying the bill.

If youd rather avoid that step, but still want to make monthly payments, some cities allow homeowners to pay their property taxes monthly so that they arent faced with one large bill.

You could set up a pre-authorized payment to your municipality to deduct money from your bank account on a set day each month. It then holds the money and pays your property tax bill on the due date.

However you decide to save money to pay property taxes, be sure to pay the bill on time. If you dont, it could result in payment penalties. In the worst-case scenario, a lien could be placed on your home if you dont pay your property taxes.

This article is intended for informational purposes only and should not be construed as professional advice.

Published with permission from RISMedia.

Buying a new home is an exciting experience, especially when it’s your very first home purchase. In the midst of the excitement and celebration, there are some steps you shouldnt ignore. Now is the time to get your ducks in a row to ensure that your first year of homeownership goes as smoothly as possible.

Embrace Your Inner Handyman
Learning as much about home maintenance and DIY projects as you can will serve you well when beginning your journey into homeownership. Find a local hardware store and see what classes they offer. Many hardware stores offer workshops on everything from painting walls to installing a kitchen backsplash. Make it a priority to hone your general handiness around the home so that when you are presented with an urgent required repair, youll know what to do.

Hold Off on Big Personalization Projects
Owning your first home can be such an exciting experience, and if you were previously renting, it can be very tempting to jump headfirst into a big personalization project. However, since you just invested a large chunk of change to cover a down payment, closing costs and moving expenses, it can be more prudent to save your remaining funds to cover any emergencies and replenish your savings. In the meantime, you can make further plans for your dream renovations.

Update Your Insurance Policies
Your mortgage lender will require that you get homeowners insurance. However, homeowners insurance isnt the only thing that you need to be concerned about when it comes to updating your policies. Having a home and a mortgage means that you”and your partner, if you purchase a home jointly”are responsible for a very large sum, regardless of health. If you share your home with anyone who relies on your income to pay the mortgage, you’ll need life insurance that names that person as the beneficiary so that they will be able to afford the home if you die suddenly. Similarly, you’ll want to have disability-income insurance to replace your income in the event of a disabling event.

Becoming a homeowner is an exciting transition, but it does come with its share of obstacles and tasks. Ensure that you start out your homeownership on good footing by following these tips.

Published with permission from RISMedia.