Category: Insurance

An Easy Way To Estimate Homeowners Insurance

Homeowners insurance (also called hazard insurance). If you’re going to own a home, you have to have it. Well, I take that back – if you own your home outright, you don’t HAVE to have homeowners insurance … Laws around insurance companies get complex, especially as you get into more about limited tort in Pennsylvania. but if you ever experience a catastrophic event (i.e. a fire, flood, earthquake, a derecho) and you don’t have homeowners insurance, than you’re out of luck. If you have a mortgage on your home, however, you’ll have to have homeowners insurance … the lender will …

Read more

Do I Need Renter’s Insurance?

As mentioned before, Natalie and I are selling our house and moving downtown.  We want to try living downtown for a bit, and so we’ll be downsizing and renting an apartment.  I asked Eric Johnsen, of State Farm Insurance in Christiansburg, what we needed to do in regards to renters insurance, and what our homeowners policy on our current home would cover. Something else that we really wanted to invest in was this really cheap car insurance. Our apartment will be ready in just a few days, and we’ll begin moving things into the apartment – I wanted to know …

Read more

A Quick Way To Estimate Homeowners (or Hazard) Insurance

If you’ve ever been looking for a home, or even contemplating buying a home, you’ve probably used an online home loan calculator (there’s a good one right on this page, in fact, labeled “Estimate Your Payment”) at some point.  Mortgage payments are typically made up of four components: Principal, Interest, Taxes, and Insurance … PITI.  I say typically because some borrowers choose to pay their Taxes and Insurance separately, but that’s another blog post for another day. Principal and Interest is easy to determine – it’s based on the amount of money you’re borrowing, the interest rate, and the years …

Read more

What, Exactly, Is Title Insurance?

“Hey Jeremy, do I really need to get title insurance?”  It’s probably the most common question I get from new buyers when we’re getting ready to close on a house.  So what, exactly, is title insurance?  Well … there are different kinds.  But we’ll get to that. Title insurance is an insurance policy that protects a party’s “position” in the transaction (i.e. position = money).  What the policy does, then, is provide insurance that the real estate taxes were paid, for instance, or that there’s a clear line of ownership to the property.  Without title insurance, the insured would have …

Read more

5 Bills Montgomery County Homeowners Should Pay Attention To

There are five bills currently making their way through the Virginia General Assembly that homeowners in Virginia, particularly those in Montgomery County, should be paying attention to.  From the Virginia Homeowners Alliance: HB570 – real estate taxes are based on a real estate assessor’s assessment of your property’s value, and is almost always based on a combination of a visual inspection of the exterior (read – sitting in the car) and a quick perusal of the property card.  If you don’t like the assessment, it’s up to YOU to defend whether the property’s value should have gone up or down. …

Read more

New River Valley Home Safety Tips from Eric Johnsen of State Farm

Earlier in December, Mother Nature dumped nearly two feet of snow across areas of the New River Valley, stranding residents and wreaking havoc.  Truth be told, we just don’t get snow storms like that around here, so when we do it causes headaches … in bunches.  I decided to ask Eric Johnsen, State Farm agent in Christiansburg, his thoughts on how homeowners should approach winter weather in the New River Valley … Q: So with all of the winter weather we’ve been having, and scheduled to get, what precautions or things should homeowners be doing to prevent damage to their …

Read more

Consider Flood Insurance For Your Home

The New River Valley has been hit hard the last few weeks, with heavy rains and – unfortunately – some flooding. The NRVLiving Real Estate Blog’s favorite insurance agent, Eric Johnsen, talked with WSLS Channel 10 about the recent weather and who is eligible for flood insurance. The short answer?  Everyone.

Read more