Glossary of Insurance Terms for Homeowners

Decipher your homeowner insurance policy with this easy-to-use glossary of common terms.

Having trouble figuring out what all that legal lingo in your homeowners insurance policy means? This glossary of insurance terms will help you understand what's covered, what's not covered, and what your insurance company is really saying in its policy.

A

A.M. Best
A company that rates the financial condition of insurance companies. Your insurance company's rating (http://www3.ambest.com/consumers/ConsumerInfo.aspx?site=5&Page=29) helps you determine if they can afford to pay claims.

Accident
An unexpected or involuntary event that causes harm, injury, damage, or loss.

Act of God
Something that is beyond human control that damages or destroys your home or possessions - such as a hurricane or tornado.

Actual Cash Value (ACV)
For property insurance, the market value of your home before and after your loss.

For possessions, what it would cost to replace your items minus how much value they've lost since you bought them (for example, because the item is used, or suffers wear and tear).

Usually, a policy offering ACV costs less to buy than replacement-cost insurance and pays you less after a loss.

Additional Living Expenses
The cost of housing and feeding your family after your home is damaged by something your homeowners insurance covers. Usually limited to 10% to 30% of your policy value (if you have a $100,000 policy, your potential reimbursement would be $10,000-$30,000).

Adjusted Basis
What a property is worth after you add the value of any improvements you've made and then subtract any value it's lost.

Adjuster
The person who works out the details of your claim. An adjuster can work for anyone. Staff adjusters work for the insurance company. Public adjusters are hired by and paid by homeowners. Independent adjusters work for whomever hires them - insurance companies or consumers.

All Risks Coverage

A homeowners policy that covers you for losses caused by anything that's not specifically listed as being excluded (see exclusions, open perils, and named perils). You pay extra for all risks coverage.

Assessed Value
What the local tax assessor (http://www.houselogic.com/home-advice/property-taxes/why-real-estate-assessments-matter/) says your home is worth. The assessed value of your home is used to determine your property taxes. You can appeal your home's assessed value (http://www.houselogic.com/home-advice/property-taxes/property-tax-appeal/) if you think it's too high.

B

Basic Limits
The smallest (and often cheapest) policy you can buy in your state. Usually mentioned in liability policies.

Betterment
An improvement you make after you move into your home. Applies mostly to condominiums. Some condominium policies only insure your condo unit as it was when you bought it. If you improve your unit, the improvements (betterments) aren't covered. If you live in a condo, ask your agent to explain what the building policy covers and what it says about betterment.

Binder
A short summary of the insurance policy you've agreed to buy. You use the binder to prove to your lender that you have homeowners insurance. Check your binder to make sure these facts are correct:

          •The type of insurance you're buying.

          •Your home's address.

          •How long the policy lasts.

          •The policy's price.

          •Any riders or additional coverage you're buying.

Blanket Policy
An insurance policy that covers more than one property.

C

Casualty Insurance
Insurance that covers the cost when you, or a family member, injure people or property.

CLUE Report
A record of the claims you've filed, plus all the claims filed by people living in your house over the past seven years. Insurance companies check your CLUE report before they give you a homeowners policy. Make sure your CLUE report is correct because mistakes can raise your rate.

Coinsurance Clause
Insurance companies want you to buy insurance to cover the full actual cash value of your home. They include in their policies a "coinsurance clause" that says if you buy a policy for less than 80% of what your home is worth, they can reduce any claims.

For example, assume your home is worth $100,000 and you insure it at $70,000 or a value of 70%:

          •If a fire completely destroys your home, the insurance company would pay you $70,000 because that's your policy maximum.

          •If a fire causes $10,000 in damage, the insurance company would pay $7,000 (70% of $10,000).

Common Area
The land, buildings, and amenities owned by a homeowners association, community association, or condominium association. They're called common areas because they're owned and paid for by all the homeowners. Usually, common areas include everything your condo association owns other than the individual units. The association's insurance policy covers common areas. Your homeowners policy covers what's inside your unit.

Typical common areas include:

          •Pools.

          •Tennis Courts.

          •Driveways.

          •Gatehouses.

          •Hallways.

          •Stairwells.

          •Elevators.

          •Lounges.

          •Fitness facilities.

          •Patios.

          •Roof decks.

Contents Coverage
The part of your homeowners insurance that protects you if your possessions are damaged or destroyed. The contents coverage is based on the size of your overall homeowners insurance policy.

For example, if you have a contents coverage limit of 50% and you have a $100,000 homeowners policy, then you have 50% contents coverage. If a fire destroys all your possessions, the policy would pay $50,000.

To make it easier to file a contents claim, compile a home inventory. (http://www.houselogic.com/home-advice/home-inventories/home-inventory-tools/)

D

Declarations Page
Usually the first page of your insurance documents, it's a one-page summary of:

          •The company providing the insurance.

          •What the policy covers.

          •How much the property is covered for.

          •What you're paying for coverage.

          •The time period you're covered.

Deductible
The percentage you'll have to pay for damage or loss to your home or possessions. When paying a claim, your insurance company subtracts the amount of your deductible from what it owes you.

 For homeowners living in areas where natural disasters, such as hurricanes, earthquakes (http://www.houselogic.com/home-advice/disaster-insurance/earthquake-insurance-worth-it/), and hail, occur, deductibles may be a percentage of your policy's value.

Dwelling Coverage
This is the insurance that covers your home for damage or destruction from any particular hazards your policy covers, such as tornados, hail, fire, and theft. (http://www.houselogic.com/home-advice/home-security/how-to-prevent-burglaries/)

E

Effective Age
This measures the wear and tear on your house. Your home's effective age can be more years or fewer years than the actual age of your home.

Endorsement (also called rider)
A written change that adds, deletes, or alters your policy.

Exclusions
Things that your insurance policy does not cover. Insurance policies can exclude risks (like damage from a nuclear war), locations (cliff-side homes), or possessions (a $1 million painting).

Circumstances and situations commonly make the exclusions list in homeowners policies, too, for example, losses that you cause likely aren't covered.

Always read the list of exclusions in your policy so you know what's not covered. If you want insurance for something your homeowners policy excludes, talk to your insurance agent. There may be a rider, endorsement, or separate policy you can buy that will give you the coverage you want.

F

First-Party Claim
That's when you sue your own insurance company if your insurer says you aren't covered in certain instances and you believe you are. For example, if your home is damaged in a hurricane and your insurance company says the damage was due to flooding (uncovered by your policy) but you believe the damage was due to wind (covered).

Floater
Additional insurance that covers a possession wherever you take it, such as a grand piano.

Flood Insurance
Homeowners insurance doesn't cover flooding. Only a flood insurance (http://www.houselogic.com/home-advice/disaster-insurance/what-does-flood-insurance-cover/) policy covers flooding.

Force Placed Insurance
If you have a mortgage, you must keep your home insured. If you can't or won't get homeowners insurance, your lender will "force place" a policy - meaning it will buy an insurance policy for you and then send you the bill for the insurance. Force placed insurance (http://www.houselogic.com/blog/home-insurance/force-placed-insurance/) is more expensive and provides less coverage than a regular homeowners insurance policy.

G

Grace Period(s)
How long you can go without paying your insurance premium before getting canceled.

Group Limits
When you have a group of items whose values, when added together, are more than your policy limit, you can buy a higher "group limit." For example, if you have a policy that insures up to $2,500 in jewelry, but you own five necklaces worth $1,000 each, you need a higher group limit to cover your $5,000 group of necklaces.

H

Hazard Insurance
Another name for homeowners insurance. (http://www.houselogic.com/home-advice/disaster-insurance/what-does-homeowners-insurance-cover/) Lenders often refer to homeowners insurance as hazard insurance.

I

Incontestability
If you lie on your insurance application, your insurance company can deny your claim. However, there's a time limit - usually two years - for the insurance company to deny your claim because you lied. Incontestability is basically a statute of limitations on getting caught for falsehoods you have on your application (see also material misrepresentation).

Inflation Protection
When you buy inflation protection, then your dwelling coverage automatically goes up to match inflation. That's true whether you opt for replacement value or actual cash value.

Insurance to Value
The amount your policy covers compared to the replacement value of your home. For example, a $75,000 policy on a $100,000 home has 75% insurance-to-value coverage. Many insurance companies require you to have 80% insurance-to-value in coverage (see also coinsurance).

L

Lapsed Policy
When you don't pay your insurance bill by the end of the grace period and you lose your coverage.

Liability Coverage/Liability Insurance
The part of your homeowners insurance policy that covers you when you cause an injury to someone or damage someone's property.

Limit of Liability
The maximum amount your insurance company has to pay for a liability claim.

Loss Assessment Coverage
When a condominium has an insurance loss, all the individual unit owners sometimes have to pay a portion of the loss. If you buy loss assessment coverage, it pays for the assessment your condominium charges for your share of a loss.

Loss History
When you apply for a new policy or renew your current policy, the insurance company looks at all the claims you've filed, plus all the claims that have been filed by anyone who lived in your house over the past seven years. This loss history, tracked in a CLUE report (http://www.houselogic.com/home-advice/your-insurance-score/your-clue-insurance-report-matters/), can raise your premiums or prevent you from getting insurance.

Loss of Use Coverage
This coverage pays your living expenses when you can't live in your home because it's damaged or destroyed by an event your insurance covers (such as a fire). It is sometimes limited to a set percentage of your overall policy limit (see also additional living expenses).

M

Manufactured/Modular/Mobile Home Insurance
You can buy homeowners insurance for a manufactured, modular, and mobile home two ways:

          •As a regular homeowners policy with a written change (see also endorsement) that specifically includes your manufactured home.

          •As a stand-alone homeowners policy.

Watch out for stripped-down policies that don't provide much coverage for liability, medical payments, and other homeowners insurance benefits.

Market Value
What your home would sell for in the current market.

Material Misrepresentation
If you lie to an insurance company, you make a misrepresentation. When that lie is significant enough, the insurance company can cancel your policy or refuse to pay your claim. Each state decides which type of misrepresentations are so important (material) that the insurance company doesn't have to pay your claim.

Medical Payments Coverage
Coverage that pays the medical costs for people who are injured at your house (http://www.houselogic.com/home-advice/preventative-home-maintenance/prevent-deadly-home-accidents/). You don't have to have caused the injury for this coverage to pay the bill and the person injured doesn't have to sue you.

Mortgage or Mortgagee Clause
This is an agreement in your insurance contract that says:

          •Your insurance company can tell your mortgage lender if you cancel your homeowners policy (see force placed insurance).

          •Claim payment checks can be made out to your mortgage lender.

          •If it's determined that you intentionally destroyed your own home (say you burned it down on purpose), the insurance company will pay the mortgage lender (but not you).

N

Named Perils
A policy that covers your losses when they're caused by specific "named" perils that are listed in your policy, for example, an earthquake policy only covers you for one named peril, earthquakes (see all risks coverage).

Negligence
When your lack of care causes injury to another. The liability portion of your homeowners policy covers negligence.

Non-Renewal
When your insurance company refuses to give you insurance for another year.

O

Occurrence
Something that causes a loss.

Open Perils
A homeowners policy that covers you for losses caused by anything that's not specifically listed as being excluded (see exclusions, all perils, and named peril).

Other Structure Coverage
The part of your homeowners insurance policy that covers the buildings on your property other than your home, such as a detached garage or a barn. It's usually limited to 10% of your policy, so if you have a $100,000 policy, the other structure coverage would pay for $10,000 in damage or losses to your outbuildings.

P

Partial Loss
When your property or possessions are not completely destroyed, you have a partial loss. When your claim is for less than the limit on your policy, that's also called a partial loss.

Peril
Something that can cause a loss by damaging or destroying your home or possessions. In a named perils policy, you get a list of perils that are covered. In an open perils policy you're covered against all perils except those specifically excluded.

Personal Liability Protection Coverage
This part of your homeowners insurance policy covers you if you're responsible for injuring someone or damaging their property. It pays claims won against you, up to the limit of your policy (see also umbrella liability policy).

The typical homeowners insurance policy includes $100,000 in personal liability protection. To get more coverage, purchase an umbrella liability policy.

Personal Property Coverage
Insurance companies refer to your possessions as "personal property." If you can move it, it's personal property - furniture, televisions, clothing, and sports equipment.

Personal property coverage is usually set at 50% to 70% of your dwelling coverage. For example, if you have $100,000 in dwelling coverage, your personal property coverage would be $50,000 to $70,000.

You can opt for coverage that pays for new items (see replacement value) or pays you what your stuff is worth after wear-and-tear (see actual cost value).

Proof of Loss
This is the form you fill out and sign to make your insurance claim. There's probably a deadline for getting it to your insurance company.

R

Reinstatement
If you don't pay your premium by the end of the grace period, it lapses. To get it reinstated, you have to pay the insurance premium you skipped (possibly with interest).

Replacement Value
When you buy replacement value coverage, the insurance company guarantees to replace what was lost or damaged. This policy usually costs more than actual cash value -- coverage which pays you what the home or possession is currently worth.

Residence Employee
Someone who works on or in your home, for example, your gardener, your nanny, or even a child you pay to baby sit your children. It doesn't mean an independent contractor or someone who works for you in a business you run from your home.

Your homeowners insurance personal liability and medical payments provisions cover residence employees as long as their injury happens on the job and they aren't covered by worker's compensation.

 If people work for you in a home-based business or you have domestic employees, talk to an insurance agent to see if your state requires you to buy a separate workers compensation policy for them.

Rider
A written change that adds, deletes, or alters your policy (see also endorsement).

S

Scheduled Personal Property
When you own expensive items, such as jewelry, a stamp collection, or antiques, the typical homeowners insurance policy limits may not be high enough to cover the cost of replacing them (see also group limits).

You can pay an additional premium to have them covered as scheduled personal property. If they're lost or destroyed along with other possessions, you typically don't pay a separate deductible for scheduled personal property. If you have a group of valuable items to insure, you may want insure those using a group limit.

Single Interest Insurance
Property insurance that protects just one party. For homeowners, single interest insurance usually protects your mortgage lender, not you.

Sprinkler Insurance
This covers you if your fire sprinkler system goes off accidentally, or if it leaks and causes damage. Most homeowners policies cover sprinkler system leaks, but if you have a system be sure to ask if your policy covers accidental discharge.

Subrogation
If your loss was caused by someone else, your insurance company may sue them for the loss. If it wins, the recovered money may go toward repaying you for your deductible. That process is called subrogation.

For example, suppose the wiring in your microwave is faulty and causes a fire that destroys your home. Your insurance company sues the company that made the microwave to get back what it lost paying your claim.

Subrogation might also come into play if you do something that causes a problem for a neighbor. For example, if you live in a townhouse and your plumbing repair error floods your unit and the home on the other side of your joint wall.

T

Total Loss (also called constructive total loss)
When it would cost more to repair your home than it's worth.

U

Umbrella Liability Policy
This insurance policy protects you when you have a claim that's more than your homeowners insurance pays.

Umbrella policies usually cover:

          •Personal injury and property damage caused by your family (and pets) when you're not at home.

          •Injuries on your property.

          •Vehicle protection when your auto policy is exhausted.

          •Protection against slander, libel, wrongful eviction, or false arrest.

          •The costs of defending you from lawsuits and claims filed against you involving issues that your insurance covers, such as an injury on your property.

Article From HouseLogic.com

By: Dona DeZube

Published: August 16, 2013

How to Win the Energy-Savings Argument in 3 Easy Steps

Trying to convince someone to save energy requires a bit of due diligence -- we'll show you how to win that argument every time.

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If you're trying to convince your partner to save energy (http://www.houselogic.com/green-living/saving-energy/), you may be facing an uphill battle.

That's because debating it is about as much fun as watching your electric meter spin. In addition, your other half probably thinks adding energy-saving features costs too much and isn't worth the effort.

So how do you make a dent in that ironclad reluctance?

Step #1: Do Your Homework

"The best way to minimize disagreements is with research and proof," says Sandy Arons. She should know. As a financial counselor, it's her job to assess the nuances of everyday costs, including home maintenance and repair (http://www.houselogic.com/maintenance-repair/).

Knowing her spouse wasn't keen on spending for energy upgrades on their relatively new 17-year-old house, Arons gathered data to prove they could save money.

The heart and soul of her data crunch was an energy audit (http://www.houselogic.com/home-advice/saving-energy/what-type-energy-audit-right-you/) provided free by her local utility company. An audit shows:

          •Where you're wasting energy.

          •How you can remedy problems.

          •Your probable cost savings if you upgrade.

Many utility companies offer a free home energy profile as an online service at their website or via an in-person visit from an energy expert.

You can also use calculators at government-supported websites, such as Home Energy Saver (http://hes.lbl.gov/consumer/) and Energy Star (https://www.energystar.gov/index.cfm?fuseaction=HOME_ENERGY_YARDSTICK.showGetStarted).

Better yet, hire an independent pro to do an energy evaluation for about $150. Just don't forget to factor that money into the costs of your energy upgrades.

Step #2: Gathering Cost Info

Gather estimated costs for the upgrades suggested by your audit. You can get estimates at an online home improvement cost site, such as CostHelper (http://home.costhelper.com/) and DIYorNot (http://www.diyornot.com/), or contact local contractors to get bids for the work.

Step #3: Figuring Payback

Compare those proposed annual energy savings against the cost of the upgrades. Your goal is to figure out payback - how long it'll take for the energy savings to pay off the cost of the improvements.

For the Arons house, an energy audit recommended increasing the depth of attic insulation (http://www.houselogic.com/home-advice/insulation/attic-insulation-savings/), insulating attic knee walls, and adding roof vents to get rid of hot, trapped air.

Those improvements totaled about $1,000. With her audit showing a potential annual energy saving of $300, Arons figured a payback of about three years.

She put everything in a spreadsheet and showed her husband.

"Once I did that, it was easy for my husband to agree to the upgrades," says Arons. "And once we're through the payback period, all the savings are gravy."

Related: Best ways to take back your energy bills

Want an Even Stronger Argument?

Don't forget to research federal, state, local, and utility rebates (http://www.houselogic.com/home-advice/saving-energy/utility-energy-rebates/) for energy upgrades and apply those to your cost savings.

For example, if you upgrade your insulation in 2013, you may be eligible for a federal tax credit (http://www.houselogic.com/home-advice/tax-credits/tax-credits-adding-or-replacing-insulation/) of up to $500.

With a Little Help from Some Friends

"When you're trying to convince people to try something new to save money, it's important to go straight to the numbers," says Andrew Schrage, co-owner of Money Crashers Personal Finance.

When Schrage tried to get his neighbors to join the energy-savings movement, he called upon a friend who had recently gotten an energy audit and installed a programmable thermostat (http://www.houselogic.com/home-advice/saving-energy/programmable-thermostats/). The friend had tracked his utility bills for several months and discovered he was getting about a 25% savings.

Armed with his friend's paperwork and a copy of the energy audit, Schrage was able to convince his neighbors to get their own audits and see what savings they could muster.

"They didn't even know an energy audit was available," notes Schrage. Now, he says, those neighbors are enjoying annual energy savings of 20%.

Related:
Professional Energy Audits: Costs and Benefits
DIY Home Energy Audit in 6 Easy Steps (http://www.houselogic.com/home-advice/saving-energy/diy-home-energy-audit-6-easy-steps/)

Article From HouseLogic.com

By: John Riha

Published: August 21, 2013

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What You Need to Know About Excess Flood Insurance

Pricey, private-sector excess flood insurance covers you when a federal flood policy isn't enough.

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Most homeowners who need flood insurance (http://www.houselogic.com/home-advice/disaster-insurance/is-flood-insurance-worth-it/) buy it from the federal government's National Flood Insurance Program. But NFIP policies max out at $250,000. If your lender wants you to have insurance coverage beyond that, you have to purchase at least some of your flood insurance in the private sector.

That means buying:

1. A federal policy worth $250,000 and

2. An excess flood insurance policy for the additional coverage you need.

An excess flood policy mimics an NFIP policy, so whatever your federal flood policy covers (http://www.houselogic.com/home-advice/disaster-insurance/what-does-flood-insurance-cover/), your excess policy should also cover.

Who Offers Excess Flood Insurance?

Only a handful of companies sell it, says Bill Gatewood, director of personal lines for Burns & Wilcox, an independent wholesale insurance brokerage. Companies that have offered excess flood insurance in some markets include:

          •ACE Ltd.

          •AIG

          •Burns & Wilcox

          •Chubb

          •Fireman's Fund

          •Lloyd's of London

          •Private Client Group at Chartis

          •Privilege Underwriters Reciprocal Exchange

          •SWBC

          •Wright Flood

Tip: You want a carrier that writes both NFIP and surplus policies.

Can You Get a Private Policy Only?

Some insurers sell a purely private flood policy, which eliminates the need for an NFIP policy.

Since the policies are market-based, they're usually more expensive than insurance through NFIP. And insurers who offer them often only cover property valued at more than $1 million whose owners meet certain net worth standards.

In addition, some lenders are reluctant to accept purely private policies. Why? Banks fear private policies won't meet the legal requirements for being equivalent to government coverage: There are things the Feds can do that private insurers can't -- like never canceling a policy. Plus, some lenders have concerns about whether a private insurer will be able to cover losses and protect the bank's investment.

Can You Skip Excess Flood Insurance?

Not if your lender insists you have it.

First, understand what you must do: If your house is located in a high-risk flood zone (http://www.houselogic.com/home-advice/disaster-insurance/flood-insurance-rates-going-up/) and you use a federally related mortgage loan (that's most mortgages) to buy or refinance (http://www.houselogic.com/home-advice/refinancing/mortgage-refinance-benefits/) it, your lender will force you to have some type of flood insurance.

Second, whether you have to tack on an excess policy depends on:

          •The lender. Some require an excess policy to cover your home rebuilding costs above $250,000; others don't.

          •How much you owe on your mortgage. Your lender must require at least what you owe on your mortgage up to $250,000, but may require more for asset protection.

If you don't want to buy an excess policy and can afford to cover your losses above $250,000 when you buy or refinance a home, shop around for a lender that doesn't require an excess policy.

"Some people make a calculated decision not to purchase insurance above that [$250,000 limit] and they'll take a risk that the water isn't going to get so high that it does monetary damage," Gatewood says.

Similarly, as you pay down your mortgage, depending on the lender, you may be able to cover the value of your house that's equal to what you owe. For example, if you have a $250,000 mortgage and it would cost $500,000 to rebuild your home, your lender may require you buy only $250,000 in coverage - enough to pay off your mortgage.

If you're getting a jumbo loan (that's $625,500 or more in high-cost areas (https://www.fanniemae.com/singlefamily/loan-limits) ), your lender may be satisfied if you buy only an NFIP policy for $250,000 in damage. Or, your lender may tell you to get an excess flood policy, too. It just depends on the individual lender's rules.

The best way to reduce flood damage? Prepare for it. Try these 10 steps to help protect your home from floods (http://www.houselogic.com/home-advice/disaster-insurance/protect-yourself-and-your-home-flooding/).

Excess Flood Insurance Rates

It's expensive, though specifics are hard to come by until you start seeking quotes.

"What we see is sticker shock," Gatewood says. "Sometimes when people are buying homes, they think about just the cost of the home. Then, they go to get [excess] flood insurance and find out it's going to cost $36,000 a year to insure."

Insurers come up with a price for your specific property after considering a number of factors, such as:

          •Your home's location, age, and flood zone.

          •How high your home is elevated.

          •What floor your condo is on.

          •Which way your building faces (the ocean or inland).

          •How much coverage your want to buy.

          •The distance from your home to the water.

          •The size of the deductible you're willing to pay.

How to Shop for Excess Flood Insurance

Since excess policies cost dearly and aren't plentiful, this isn't an insurance product you should shop for on your own. Use a knowledgeable insurance broker to help you uncover your options. Don't know one? Most REALTORS who work in flood zones can give you a referral.

"Get someone who understands and has sold the product before," Gatewood says. Make sure the broker is getting as many proposals as possible -- ideally three.

You'll find prices vary and so do the rules insurance companies have about what they will and won't cover including mobile homes, homes built on stilts, and homes in certain high-risk areas.

What isn't Covered by Excess Flood Insurance

The typical excess flood insurance policy won't cover:

          •Cash, art, jewelry, or other expensive items. (Take those items with you when you evacuate before a storm.)

          •Lost rental income from an investment property.

          •Basements in homes close to water.

          •Homes in areas that insurers consider too high a risk.

By the way, contents coverage is often covered and priced separately.

Excess flood insurance is a unique product and getting an insurance professional involved as early as possible is your best bet for making sure your home is properly insured.

Article From HouseLogic.com
By: Dona DeZube

Published: August 22, 2013

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NeverWet Lives Up to Its Name, But Questions Remain

Yes, it repels water from all sorts of surfaces at home, maybe even better than the hype suggests, but what's the catch?

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Rust-Oleum is rolling out its new NeverWet, water-repelling spray with such fanfare, we're expecting a parade any minute.

NeverWet is a "superhydrophobic" (not just a regular hydrophobic), two-part spray that makes water bead up and run off just about any surface - plastic, wood, stucco, cement, tennis sneakers you want to keep white.

Take a look at the company's video.

 NeverWet, a nanotechnology innovator, has teamed up with Rust-Oleum to bring this miracle coating to the masses. The company "loves" its new product for low traffic-low abrasion items like:

          •Exposed brick and masonry
          •Porous wood, like decks
          •Stucco - claims of warding off mold and mildew have been made
          •Toilet brushes
          •Cat boxes and dog beds
          •Outdoor gear - hiking books, tents, gloves

There's a catch. Isn't there always?

The coating wears off quickly on surfaces that you rub or walk on often, like a walkway. Also, it has a matte finish and dries with a little white, hazy, and velvety feeling. So you shouldn't spray it on:

          •Glass you'd like to see through (like your car's windshield)
          •Black surfaces, like dress shoes
          •Nice clothing that you don't want to redesign with a whitish, velvety finish (though the company is working on a fabric coating)

Internet chatter says NeverWet actually works better than advertised. Users have sprayed it on their satellite dish (bird poop rolls off) and workshop clamps (glue rolls off). But some commenters are worried about the health hazards of the spray.

A NeverWet white paper says key ingredients in the top coat are used in food products. "Yes, you have eaten them," it says.

But - and this is a big but - the company doesn't vouch for the solvents used in the product.

Article From HouseLogic.com
By: Lisa Kaplan Gordon

Published: July 23, 2013
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Flood Insurance Rates Going Up? Here's What to Do

If you live where floods happen, you may see an increase on your next flood insurance (http://www.houselogic.com/home-advice/disaster-insurance/what-does-flood-insurance-cover/) bill. Here's why rates are changing, plus tips to help you figure out if you're affected.

Why Are Rates Going Up?

Two reasons:

1. The Federal Emergency Management Agency is updating its flood maps to be more accurate, which could change your flood risk designation. If your risk is higher, your premiums will go up. If it's lower, your premiums could go down.

2. Last year, a new law took effect that requires the National Flood Insurance Program (NFIP) to phase out subsidies for some older properties to reflect the full risk of flooding.

 Phasing out the subsidized rates and discounts over the next five years will help the NFIP stay solvent.

 Some subsidies have been given in the form of "grandfathering." A grandfathered rate is a discount given to homes built in compliance with then-existing standards in a flood-mapped community where the flood risk has since increased.

Congress and FEMA are reviewing these properties to determine whether to phase out these grandfathered rates. FEMA won't make a decision on this until late 2014. By then, Congress could pass a law delaying the increase indefinitely.

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Do You Have a Subsidized or Discounted Rate?

Only 20% of NFIP policies are subsidized. Most homeowners already pay the full rate and won't see an increase.

 If your property isn't your principal residence, is in a special flood hazard area, and was built before the first flood insurance rate map was implemented for your community, you may be getting a subsidy for being what's called Pre-FIRM (pre-flood-insurance-rate-map).

TIP: To find out if your home is Pre-FIRM, look up your area in the Federal Emergency Management Agency's (FEMA's) Community Book.

 1. Click your state.

2. Look for the date in the "Init FIRM Identified" column for your area.

 If your home was built before that date and it's in a special hazard zone, you probably have subsidized flood insurance.

If Your Premiums Aren't Subsidized or Discounted

It's possible you still could see a change in your flood insurance premiums if your home is in a community that adopts a revised flood map after July 6, 2012. If that revised flood map puts you in a different zone, your rates could go up or down.

When Will the Rate Changes Take Effect?

If your home is Pre-FIRM and it's a second home (rental or vacation), you may already have seen your rates change. A 25% increase was implemented for policies renewing after Jan. 1, 2013. Increases will continue each year until they reach full-risk rates.

In October 2013, more subsidized homes will start seeing rate increases of 25% each year:

          •Severe repetitive loss properties
          •Business properties
          •Properties with previous flood claims for more than the market value of the property

If you have a Pre-FIRM home, and it's your primary home, and it doesn't fall into the above-mentioned categories, (lucky you!) you get to keep your subsidized rate until:

          •You sell your home.
          •You let your policy lapse.
          •You have severe, repeated flood losses.
          •You buy a new policy.

Can You Get a Better Rate?

You may be able to get a lower flood insurance rate by changing your home's flood risk. Congress appropriated a large sum of money for property owners to raise their homes onto piers, posts, columns, or pilings. Check with your local community to see if grant money is available to help you do that. Talk to your insurance agent about how elevating your house will change your flood insurance premium.

There's also a Community Rating System that could reduce flood insurance rates by up to 45%, depending on which flood plain management regulations your community adopts.

 Check with your local officials or insurance company to see if your community participates and if you can get a discount for that. If your community doesn't participate, write a letter to local officials urging them to join the Community Rating System.

 Other things you can do to trim your flood insurance premiums:

          •Opt for a higher deductible on your excess insurance policy if you have one.
          •Convince local officials to put more money into community flood mitigation projects to lower your flood risk.

It won't lower your premium, but having a flood cleanup kit (http://www.houselogic.com/home-advice/floods/flood-cleanup-kits-prepare-you-high-tides/) on hand will make your life easier if you do have a flood.

By the way, NFIP is the best deal. Without it, you have to take your chances in a virtually nonexistent private market for flood insurance at rates only the wealthy can afford.

Some of the same companies that provide private flood coverage also sell "excess coverage" flood insurance. Excess coverage pays to rebuild homes valued at more than the NFIP limit of $250,000.

Mistakes in Flood Insurance Premiums

It's possible the rate you're quoted for flood insurance is wrong. If you disagree about whether your home is in a particular flood zone or the insurer didn't take into account the pilings that raise your home 12 feet in the air, you can appeal your home's flood zone determination.

An elevation certificate (download) from a surveyor or engineer can lower your premium if it proves your home sits above the predicted flood level.

You'll also want to correct insurer mistakes that lower your premium. For example, if your policy says your home doesn't have an elevator or crawlspace and it does, tell your agent, even if your premium will rise when those are included. That ensures your property and possessions are fully covered and recoup what you're owed.

 Think the FEMA map itself is wrong? Check with local zoning officials, your builder, prior owners, a local surveyor, and FEMA to see if anyone has filed a Letter of Map Amendment asking for a map review.

 If no one has filed, you can do your own appeal.

Article From HouseLogic.com

By: Dona DeZube
Published: July 22, 2013
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Hilton Head Island before 1861

I recently came upon this map, hanging on the wall in one of the island's churches. I have always found maps, especially old ones very interesting. So, when I saw this one of our beloved island, I had to share.

The map was put together in 1958 by the Hilton Head Company, using old maps and surveys. It depicts the island as it was before 1861.

Hilton Head Island ~ 4th of July

What are your plans this July 4th? Hilton Head Island is a great place to spend the 4th! Continue Reading...