Search found 74 matches

by August
Sat Jan 13, 2024 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Medical Expenses, Cash or Insurance with an HSA?
Replies: 6
Views: 786

Re: Medical Expenses, Cash or Insurance with an HSA?

I'd check with your insurance company that they will accept the manual claims after the fact. If it's an after the fact claim, the insurance company loses their ability to negotiate the bill and that can sometimes affect coverage.

The only areas of medicine I'm aware of where cash prices might be cheaper than insurance are things like fertility procedures where often insurance companies don't cover them anyways and they are used to dealing with a lot of cash payers.

I had a difficult pregnancy last year. The hospital billed my insurance company $100,000-ish (going by memory). Insurance negotiated with them and I think the after insurance negotiation bill was $25,000.00. I then had my share with the deductible and coinsurance.
by August
Mon Jun 05, 2023 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Cost to Rebuild
Replies: 7
Views: 785

Re: Cost to Rebuild

I may be misunderstanding your question, but in the event it burns to the ground, it will simply be built to code, there won't be a need to also bring it up to code. Code issues typically come up in partial losses where a substantial portion of the building is being repaired. You'd need to look at your specific policy, but often 10% of the building limit is an additional coverage for code upgrades. As I understand it, insurance will use things like appraisals, average cost per square foot in your area, tax appraisals, etc to determine your policy limits. Do you have an insurance agent? They would be my first point of contact for any concerns over your policy limits. While reviewing the limits, I'd also check and make sure you have adequate ...
by August
Sun May 14, 2023 9:46 pm
Forum: Personal Consumer Issues
Topic: Nanny vs daycare for a 3 month baby
Replies: 24
Views: 3088

Re: Nanny vs daycare for a 3 month baby

Depending on your area, there can be wait lists of a year or more for quality daycares, so if you aren't already on wait lists, I'd reach out to a few in your area just to confirm availability as that may be a factor in your decision.
by August
Fri Oct 14, 2022 7:17 pm
Forum: Personal Consumer Issues
Topic: Roofer walking around the neighborhood
Replies: 38
Views: 4475

Re: Roofer walking around the neighborhood

It sounds like a storm chaser roofer. Often these types of companies hire "roofing sales people" who have little to no experience identifying storm damage to go door to door to sell roofs. They are paid a commission for every roof sold so by their assessment pretty much every roof they look at is damaged. We have them all the time in my neighborhood (which hasn't had a significant storm since before I bought the house in 2015). I've had them tell me my roof had storm damage without even looking at my roof (and I wouldn't let them climb it without proof of insurance both in case they get hurt or if they damage my roof). If other homes in your neighborhood are getting replaced and your roof is older, go ahead and file the claim, but...
by August
Tue Aug 30, 2022 2:53 pm
Forum: Personal Consumer Issues
Topic: What is the BEST adventure vacation you’ve taken?
Replies: 90
Views: 10070

Re: What is the BEST adventure vacation you’ve taken?

I've been scuba diving all over the world from the Red Sea (Egypt) to Maldives to places around the Caribbean. There's nothing like it as far as adventure goes. If you've never been there are locations where you can get certified and then go on a few ocean dives. I believe the minimum age is 10 if you wanted it to be a family adventure (you mentioned family but not specifics so throwing that in there). I've done several solo trips as well and divers tend to be social so making friends was easy even for my introverted self. You can do liveaboards (where you are living on the boat and dive all day) or land based where you just take a boat to nearby dive sites.
by August
Thu Jun 30, 2022 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Earthquake Insurance in Nashville, TN?
Replies: 35
Views: 3424

Re: Earthquake Insurance in Nashville, TN?

important question to understand your current policy and this optional other policy - if the earthquake causes a flood as described by the knowledgable poster above, does that come under earthquake damage or flood damage? i'm in a different state so the answer may not apply to you, but my most likely total destruction scenario is the house survives direct shaking damage but the EQ starts a fire and burns it down. the insurance company told me that is covered as fire damage, therefore no point in my opinion of getting EQ coverage. You'd want to read your particular endorsement as with insurance it always comes down to what your particular policy states, but typically if an earthquake causes a flood, the flood would need to be covered under ...
by August
Sat May 14, 2022 7:42 pm
Forum: Personal Consumer Issues
Topic: Car Buying- In Transit Cars and Deposits
Replies: 10
Views: 2747

Re: Car Buying- In Transit Cars and Deposits

Thanks everyone. I'm waiting on a callback from the first dealership. I will update once I have their response.
by August
Sat May 14, 2022 7:29 am
Forum: Personal Consumer Issues
Topic: Car Buying- In Transit Cars and Deposits
Replies: 10
Views: 2747

Re: Car Buying- In Transit Cars and Deposits

Northern Flicker wrote: Fri May 13, 2022 9:56 pm What does the contract say?
It doesn't mention anything about the deposit specifically. At the bottom it states "I hereby further acknowledge and agree that this deal is not valid and binding until an appraisal and buyers order contract are signed by dealer and customer".
by August
Fri May 13, 2022 9:52 pm
Forum: Personal Consumer Issues
Topic: Car Buying- In Transit Cars and Deposits
Replies: 10
Views: 2747

Car Buying- In Transit Cars and Deposits

Car Buying Question- I know this is a terrible time to buy a car, but I have just totaled my car and need a new one as I drive for work. I generally prefer to buy new and drive them into the ground. In my naive desperation, I put down a deposit on a new Rav4 at my local dealer. The car is currently "In Transit". I signed something called a "Purchase Deal Review" but have not signed a purchase agreement or anything like that. The dealership is estimated a 3-4 week delivery time. I have found some in stock Rav4's at a dealership a bit further away. I haven't been able to find anything on line to say whether I would be on the hook for the ordered car if I decide to buy on that's in stock from another dealer. I put a small d...
by August
Thu Jul 11, 2019 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Home insurance - over insured
Replies: 9
Views: 1292

Re: Home insurance - over insured

As someone else said, if it's a replacement cost policy, the carrier will require you to insure for the full replacement cost. If you have a mortgage, the mortgage may require you to be insured for at least the amount of the mortgage. In homeowner's claims, they are often not total losses, so the issue that would come up with an underinsured house is say you buy a policy with a $30,000 limit on a $100,000 house and you have a $5,000 loss, does the insurance pay the full $5,000 less the deductible since it's less than the limit or do they only owe for 30% of the repair cost since the house is only insured to 30% of value? There is a provision on some policies (varies by state and is more common in the Excess and Surplus Line Homeowner polici...
by August
Thu Jan 25, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Side hussle ideas
Replies: 16
Views: 2343

Re: Side hussle ideas

There are so many options for this, and a lot depends on you. What do you enjoy doing? How much, if any, money do you hope or need to make? (I ask only because depending on your hobby business you may or may not make more than you spend) Do you have a skill you could teach (or learn)? A foreign language, a musical instrument, an academic subject, computers, etc? Do you have a hobby with equipment you could learn to service? (Bikes, computers, gaming equipment, cameras, for example). Can you garden? Raise rabbits or chickens? care for peoples pets? walk dogs? If you are creative or can build things, check out etsy. It is a great place to sell homemade products. Are you good at decorating? (I have a neighbor who paid someone to set up her Chr...
by August
Sun Dec 17, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Buy home with structural issues
Replies: 51
Views: 5271

Re: Buy home with structural issues

Disclaimer-I am not a lawyer or a structural engineer.
I would for sure contact a real estate attorney-both to discuss your options and in regards to builder's liability. While it varies by jurisdictions, I know my state has around a 10 year statute of limitations for builder liability and it doesn't matter how many owners the house has had.
My other thought is 20k on a 1.5 million dollar house is not that much. That is a repair of less than 2 percent of the purchase price. If this is your dream house and you can swing the repair cost, I'd be inclined to buy the house and then go after the builder if possible. Just my 0.02 cents.
by August
Tue Aug 29, 2017 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Harvey flood damage [tenant's property has flooded - actions?]
Replies: 28
Views: 5885

Re: Harvey flood damage [tenant's property has flooded - actions?]

Renter's policies typically include loss of use, however Flood is not always a covered peril, so the tenant may be denied by his renter's policy.
by August
Mon Aug 28, 2017 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Harvey flood damage [tenant's property has flooded - actions?]
Replies: 28
Views: 5885

Re: Harvey flood damage [tenant's property has flooded - actions?]

First of all if both you and yours and your tenant and their family is ok that is the most important thing. Second you will want to go ahead and file a claim with both your home-owners and flood insurance policies. Then as said above, please be patient. Lots of adjusters are being deployed to that area but it will likely take months for all the damage to be accessed. Adjusters typically get 10s or 100s of claims all at once, and it takes time to work through them. You will also want to contact your mortgage company and let them know of the loss. Your tenant will also want to go ahead and file a claim under his or her renter's insurance. Most homeowner's policies do not cover tenants for contents damage or relocation. Depending on their poli...
by August
Thu May 18, 2017 9:51 pm
Forum: Personal Consumer Issues
Topic: Roof depreciation on insurance and replacement cost help
Replies: 2
Views: 616

Re: Roof depreciation on insurance and replacement cost help

Yep, what StevieG72 said.

I usually explain it as two payments. One payment upfront to get the roofer started and a second check once it's complete. Only out of pocket cost is your deductible unless you upgrade the roof.

The exception to this is if you have what is called an ACV roof policy, but since the letter specifically stated rec depreciation (recoverable depreciation) that does not sound like the case here.

Enjoy your new roof.
by August
Mon May 15, 2017 9:55 pm
Forum: Personal Consumer Issues
Topic: Homeowner's Insurance & New Roofs
Replies: 44
Views: 9235

Re: Homeowner's Insurance & New Roofs

Property Insurance adjuster here. Have worked for several carriers as both a local and catastrophe (storm adjuster). I have looked at many thousands of roofs at this point. Several things to consider: First of all, yes, I have seen hail damage every home in the neighborhood except the one I was looking at. I have also looked at roofs and seen damage when none of the customer's neighbors had damage. I've worked tornadoes where one neighbor had some minor roof damage and the next door neighbor had no roof. Storms do funny things. In regards to hail- For a middle age roof- it takes about 1 inch hail to damage a 20 year fiberglass shingle and 1.5-2 inch hail to damage a 30 year architectural roof. Older roofs will damage much easier than younge...
by August
Sun May 14, 2017 9:06 pm
Forum: Personal Consumer Issues
Topic: Replace floor BEFORE or AFTER New Cabinets?
Replies: 32
Views: 6619

Re: Replace floor BEFORE or AFTER New Cabinets?

Floor last. This way if you ever need to change the floor (water damage, etc), you won't need to tear out all the cabinets if they are not damaged. If the tile goes under the cabinets, then the cabinets need to come out to if something like water damages the floors.
I do recommend either tiling under the dishwasher and fridge space or placing an another layer of underlayment there to even it out with the floor.
by August
Tue May 02, 2017 9:16 pm
Forum: Personal Consumer Issues
Topic: Where to Live on $60K or Less a Year?
Replies: 248
Views: 45963

Re: Where to Live on $60K or Less a Year?

Having travelled a lot, I would consider from your descriptions- Charlotte, NC and suburbs. The city is growing into SC which has opened up areas of low taxes just south of the border. Charlotte is also a very "young" city in its feel and thus has a lot of outdoorsy type activities and parks. Greenville, SC/Asheville, NC and surrounding suburbs Knoxville, TN The areas of Colorado you suggested are also very nice. My only concern there, as already mentioned, is housing prices have skyrocketed in the last few years in and around Denver (I'm not sure about the other CO cities) and that could lead to a hike in COL. All of my suggestions are either in the mountains or have mountains within a few hours drive. 4 seasons, but mild winters...
by August
Sat Apr 22, 2017 8:56 pm
Forum: Personal Consumer Issues
Topic: Hotel Living
Replies: 20
Views: 4541

Re: Hotel Living

Not to contradict btenny but I think whether gyms and/or breakfast is provided varies by hotel. When I was on the road most of the Marriott and Hilton extended stays (those are the two chains we stayed at the most) offered gyms, sometimes pools, free breakfast seven days a week and a free dinner/social hour Mon-Thurs. It probably depends so anyone reading this should of course research the specific hotel.
by August
Sat Apr 22, 2017 9:52 am
Forum: Personal Consumer Issues
Topic: Hotel Living
Replies: 20
Views: 4541

Re: Hotel Living

I lived mostly in hotels for several years while working a traveling job (250-ish days a year in hotel). For staying more than a few days, I'd recommend an extended stay style hotel. I found Marriott and Hilton to have the best rewards, even better if you get one of their credit cards and use that at their hotel. For what you are proposing, staying in one location, I'd look into an AirBnb type rental or a short term rental. Forming a relationship with an AirBnb owner may also allow you to come and go and even leave some items there for a scheduled return. A corporate apt may also be an option. Often they are more expensive if furnished and for short term than a regular rental but probably comparable or less than a hotel and more comfortable...
by August
Thu Apr 20, 2017 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance!
Replies: 3
Views: 828

Re: Insurance!

A great starting point would be to talk to a few local independent agents. An independent agent (as opposed to a captive agent-like State Farm, etc) can give you quotes from several different companies for you to compare.
by August
Mon Apr 17, 2017 4:57 pm
Forum: Personal Consumer Issues
Topic: Is my electric bill high?
Replies: 60
Views: 15535

Re: Is my electric bill high?

Mine averages $60.00 in the winter and $100-110 in the summer (due to AC). I live in NC. ETA: I have a 1500 sq foot house.
by August
Sun Apr 16, 2017 10:40 pm
Forum: Personal Consumer Issues
Topic: Home Insurance Premium - How to decrease.
Replies: 41
Views: 6116

Re: Home Insurance Premium - How to decrease.

True, while some homeowner's insurance sometimes has a co-insurance clause depending on the state, I have never seen it enforced. Co-insurance is typically only used on commercial policies. As always it depends on your particular policy. :)
by August
Sun Apr 16, 2017 2:14 pm
Forum: Personal Consumer Issues
Topic: Home Insurance Premium - How to decrease.
Replies: 41
Views: 6116

Re: Home Insurance Premium - How to decrease.

I'd also make sure your policy allows buying a different house in another location as opposed to rebuilding and whether or not this may affect your actual cash value vs replacement cost coverage. It may depend on your state. Your insurance company may not have an issue with it at all or it may result in only being able to get actual cash value for your damages. In additional some states are pay out states which means they will pay you the policy limits if the house is deemed a total loss regardless of the actual value or amount spent and others will only pay up to the cost incurred or the amount you actually spend less your deductible. keep in mind if you do not have a mortgage company, you aren't required by law to have homeowner's insuran...
by August
Sun Nov 20, 2016 6:32 pm
Forum: Personal Investments
Topic: State Tax Return
Replies: 6
Views: 1212

Re: State Tax Return

Thanks everyone for the advice. I don't want to ignore the letter. I think I'm going to respond to the letter by saying I was not a resident for 2013 (and beyond) and see what they say. The funny part is that since they sent the letter to my old address, had it not been my parents house, I never would have known state A send the letter since mail forwarding stops after 1 year.

I officially changed my mailing address the middle of last year when I got a new non traveling job and bought a house here, so I am concerned this will happen again for 2014 and 2015.

Thanks!
by August
Sat Nov 19, 2016 12:12 pm
Forum: Personal Consumer Issues
Topic: Turn off water heater on vacation?
Replies: 97
Views: 128431

Re: Turn off water heater on vacation?

Can't speak for the water heater itself, but I always turn the main water supply off when I leave my house overnight. Seen 1 too many houses where a supply pipe bursts while the homeowners are out of town for 3,4,5 even 8 or 9 days. Not pretty.
by August
Sat Nov 19, 2016 11:58 am
Forum: Personal Investments
Topic: State Tax Return
Replies: 6
Views: 1212

State Tax Return

I need some help with a tax situation. Not looking for any legal advice, just more of a wwyd. First some back ground information. From 2010-2015, I had a job that required frequent and long travel (up to 30 days at a time, 270+ days a year). I was in my mid 20s and was single. From 2010-January 1, 2013, I lived with my parents (to save money) in State A. At the end of 2012, I received an offer to transfer to State B, a location I was quite fond of. I had a bit of flexibility in moving dates (anytime over a three month period) and ironically enough thought it would be easiest to make the switch at the end of the year to avoid multiple state tax filings. I got an apartment beginning Jan 2, 2013 (the 1st is a holiday) in State B and by the end...
by August
Thu Nov 10, 2016 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: .
Replies: 22
Views: 2556

Re: Home shopping, Potential roof leaking despite new roof

While my first instinct is that I would pass on the house due to a chronic roof leak, it's also important to know where and why the roof is leaking. Is it an easy fix? Is it leaking around a vent or pipe boot that could easily be replaced, wind damage to the shingles, or a downspout letting out on the roof that could be redirected? Is it a flashing issue? How is the roof ventilation? Or is it leaking due to a dead valley or improper roof design/construction? Working in a job where I see roof leaks daily, I wouldn't put much faith in the roof warranty, but YMMV. Also keep in mind that depending on the location of the house and the type of roofing material, a six year old roof is nearing middle age. (For example, I live in the south and a 20 ...
by August
Mon Jul 11, 2016 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Real career path for a 23 yr old with no college degree
Replies: 50
Views: 15663

Re: Real career path for a 23 yr old with no college degree

If he likes sales, I'd look into roofing or restoration sales. He may get some great travel opportunities as well. Unless he's afraid of heights, then might not be the best career path.
by August
Fri Jul 08, 2016 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Cash in Savings Bonds?
Replies: 2
Views: 573

Re: Cash in Savings Bonds?

I'd hold on to them. You probably aren't going to find 4 percent risk free yield anywhere else right now. You can certainly still consider them as part of your emergency fund as you can cash them in at any time if you need them.
Unless your parents have been paying taxes on the interest every year, you will owe federal taxes on all the interest in the year you cash them in. No state taxes will be owed.
by August
Tue Jul 05, 2016 10:54 pm
Forum: Personal Consumer Issues
Topic: When to proactively replace water heater
Replies: 60
Views: 9922

Re: When to proactively replace water heater

If the water heater is upstairs, in an attic, or in a finished place, I'd look into getting it replaced (or at least checked) before it starts leaking. Though Homeowner's insurance will typically cover the resulting damage from the leak, it is still a major inconvenience to deal with. I just recently replaced my water heater (in the attic) with a tankless version. It is also gas. Having gone through a prior water heater leak in my apartment (I was out of my apartment for three weeks, and the downstairs unit had to have the kitchen and living room pretty much gutted), I didn't want to take any chances with a 15 year old unit. If it's in an unfinished space, as mentioned above, you can probably wait awhile as even a catastrophic failure won't...
by August
Fri Jun 03, 2016 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for good home insurance
Replies: 16
Views: 2611

Re: Looking for good home insurance

I would recommend finding a good independent agent to give you several quotes. Sometimes you can get better coverage and/or better rates from smaller regional carriers than from the big national carriers that cater to the online crowd. Having a good agent can also help you through the claim process and shop different carriers for you every few years to make sure your rates are competitive.

Hope this helps,

August
by August
Sat May 21, 2016 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Hail damage on roof; what to do with Insurance Providers' $9,950 check
Replies: 52
Views: 24260

Re: Hail damage on roof; what to do with Insurance Providers' $9,950 check

You don't have to do the repairs. Truthfully, if a reputable roofer tells you it doesn't need replaced, it probably doesn't. Adjusters, especially busy ones (such as after a hail storm) will find any reason to pay for the roof on the first inspection to avoid later inspections, supplement requests, etc. If you decide not to replace the roof, you have two choices, either deposit the check and save it for a future roof or you can call your adjuster and ask about options to withdraw the claim. Note it will still be on your record, but it will show as a no pay claim. If you decide to keep the check and not do the repairs, it is very possible that any future roof claims will be denied regardless of the cause (hail, wind, fire, raccoons, etc.). T...
by August
Thu Dec 24, 2015 3:44 pm
Forum: Personal Consumer Issues
Topic: [Interested in driving,] Any Uber drivers here?
Replies: 32
Views: 4710

Re: Any Uber drivers here?

I was wondering how insurance would work on the car too. I believe a personal policy has exclusions for using the car for hire or being paid to drive the car, so I imagine a commercial policy would be needed. I also know they have a requirement that you have a car that is less than a few years old, but do not know for sure. I would certainly take into account commercial auto insurance, wear and tear, and gas prices in your area into your projected income.
by August
Wed Nov 18, 2015 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Any experience with Geico/HomeSite homeowners insurance?
Replies: 5
Views: 4610

Re: Any experience with Geico/HomeSite homeowners insurance?

Please don't take this as a recommendation for one carrier over another, but working in the insurance industry I know that Travelers does offer sump pump coverage as an endorsement. It is part of their Enhanced Home package endorsement for HO-3 policies and can be purchased as an additional coverage in the High Value Policies. Your best bet, if you are not familiar with Homeowner's Insurance policies and endorsements is to find a reputable independent agent who can shop several carriers policies for you and help you pick the best one for you. Working as an adjuster, I can't tell you how many claims I've denied due to folks shopping for policies online who thought they had coverage for something and didn't. Disclaimer: I am not recommending ...
by August
Tue Nov 17, 2015 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance Comparison: Did I miss anything?
Replies: 17
Views: 8241

Re: Homeowners Insurance Comparison: Did I miss anything?

I would pay the extra premium for extended (open peril) coverage. I'd also make sure the policy you are looking at has replacement cost coverage for contents as a typical Homeowner's policy offers only Actual Cash Value for contents without an endorsement (Actual Cash value means replacement cost less depreciation- similar to car insurance). Last I checked, Geico Insurance is basically acting as an agent for Travelers for homeowners, so I would compare Geico's rates to what an independent agent can offer for Travelers. Having an actual human agent on your side when you have a claim never hurts and can sometimes speed up your claims process. If you have a basement with a sump pump or drainage system, you want the sump pump endorsement. Witho...
by August
Fri Nov 13, 2015 10:14 pm
Forum: Personal Consumer Issues
Topic: "Big Box" Stores for new roof......
Replies: 11
Views: 2237

Re: "Big Box" Stores for new roof......

I would not go with a big box store, but instead get a few estimates from roofers. As mentioned previously, the big box stores use sub contractors and will add a fee- sometimes around 20% for Overhead and Profit. If you hire a roofer directly, you will not pay this fee. On an unrelated note, you may not need a totally new roof due to the leak. With all the rains we've been getting here in the Southeast, many people are having roof leaks around pipe boots or due to minor flashing issues. It could also be a construction defect with the low slope roof. You may just need to have some valley flashing installed where the two roof slopes meet or possibly the low slope roof area redone with either Ice and water shield or a roll roofing material ins...
by August
Fri Oct 30, 2015 4:26 pm
Forum: Personal Consumer Issues
Topic: Hard Cider & a Flick
Replies: 30
Views: 3999

Re: Hard Cider & a Flick

Original Sin is my favorite if you can find it. Second favorite is Strong Bow. Stella also makes a good cider. Many of the lesser know ciders are usually quite good as well.
by August
Tue Oct 20, 2015 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Hotel Loyalty clubs
Replies: 16
Views: 2699

Re: Hotel Loyalty clubs

I do a lot of traveling for work and have found the loyalty programs for Hilton, Marriott, and Hyatt to be the best. Hilton and Marriott are better if you'd like to do vacations on points as they have more locations in different places. Hyatt tends to be the easiest to earn enough points for free nights though. If I had to choose just one, I'd probably choose Hilton or Marriott. I tend to prefer Marriott at the moment only because I am very close to their lifetime status requirements.

I frequently get free upgrades at Marriott for both having status there and having their credit card. I've never gotten an upgrade from Hilton or Hyatt.
by August
Tue Feb 10, 2015 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: Condo Insurance Quote (Wisconsin)
Replies: 11
Views: 1423

Re: Condo Insurance Quote (Wisconsin)

Check with the HOA to see what the CCR's require you to insure. Some CCR's require a master policy to cover the construction to the bare walls, and you only have to purchase coverage for your personal property or improvements attached to the building. When you find out what you need to purchase, get some quotes and check with some of the owners to see what insurance company they are using. If there is a master policy and that insurer is competitive, you might consider going with them. Then would eliminate disputes between insurers for any gray areas of coverage. Consider whether you want to purchase loss assessment coverage or if quote includes a basic amount if you are assessed. Some companies specialize in this insurance and would tend t...
by August
Sat Feb 07, 2015 9:03 pm
Forum: Investing - Theory, News & General
Topic: TurboTax and North Carolina
Replies: 4
Views: 826

Re: TurboTax and North Carolina

It looks like they are e-filing them again after a brief investigation.


http://www.forbes.com/sites/kellyphilli ... -concerns/
by August
Mon Feb 02, 2015 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: Taking a giant pay cut - what steps to take?
Replies: 26
Views: 4113

Re: Taking a giant pay cut - what steps to take?

I can relate to this thread a lot and am curious to read everyone's advice (not trying to hijack the thread or anything). I also work in a cyclic industry though it is weather dependent rather than oil/energy dependent. The best advise I received when I started is try to save a one year emergency fund. Once you get that saved up, aim for two years. At first I thought this was overkill, but given we haven't had a major storm since Sandy, I'm glad I had the extra cash. (Not that I'm wishing storm damage on anyone! But they are the bread and butter of my industry). It sounds like you are in a good place with your necessary expenses below your projected income. I would defer retirement contributions and extra mortgage payments and instead conce...
by August
Mon Feb 02, 2015 10:38 pm
Forum: Personal Consumer Issues
Topic: 3 must have car safety/'Convenience safety' features
Replies: 36
Views: 4654

Re: 3 must have car safety/'Convenience safety' features

I voted for a back up camera but truly prefer the around view cameras that are out now. That and the blind spot warning have saved me on more than one occasion. (While I try to avoid driving in other's blind spots I don't assume they will do the same).
by August
Sat Jan 17, 2015 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Home Owners insurance pricing ???
Replies: 14
Views: 2507

Re: Home Owners insurance pricing ???

It depends on the laws of the state. In most states, under many homeowner's policies, you would be paid the actual cost value or ACV immediately after the loss (provided of course the loss is covered). The remainder is paid after you spend the money on rebuild or on purchasing a new home. In other states, if there is a total loss the insurance company is obligated to pay the policy limits on the building. In almost all cases, any mortgage company you have will be included on the building payments and thus will have a say over what happens regarding repairs (up to the financial interest they have in the property.) Flood insurance in general works the same way, but has a lot of limitations regarding coverages as well as a maximum policy limit...
by August
Wed Jan 14, 2015 1:33 am
Forum: Personal Consumer Issues
Topic: Sellers Won't Fix Leaking Roof; Fear of Additional Damage
Replies: 58
Views: 13089

Re: Sellers Won't Fix Leaking Roof; Fear of Additional Damag

Slightly off topic, but $15k for a 20 square shingled roof seems quite high even for a high cost of living area. I would expect the quote to be in the neighborhood of 7-10k. I would recommend getting a second estimate (unless the $15k estimate includes interior repairs as well).
by August
Sat Oct 04, 2014 11:36 pm
Forum: Personal Investments
Topic: Roth conundrum
Replies: 13
Views: 2732

Re: Roth conundrum

I have a 401k at Fidelity. They co-mingle the roth and traditional accounts similar to what you describe. I have no idea if that is just my 401k plan or if Fidelity does it for all their retirement plans.
by August
Sat Sep 20, 2014 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Home Insurance Policy Declaration Questions
Replies: 11
Views: 1794

Re: Home Insurance Policy Declaration Questions

Also keep in mind that in addition to policy limits, there may be certain perils or events that are or aren't considered covered losses and there may be loss settlement provisions such as replacement cost vs actual cost value that will play a role in your settlement should you have a loss. In addition, certain coverages may have lower limits than the policy limits (for example mold coverage is sometimes limited). I only bring this up since as an adjuster it is very rare that I handle a loss that reaches the coverage limit, but it is very common for a coverage limitation to come into play.

I'm sorry to hear about your family home. This type of loss is tragic and has an emotional as well as a financial toll.
by August
Fri Aug 08, 2014 5:32 pm
Forum: Personal Consumer Issues
Topic: Roof replacement
Replies: 13
Views: 2219

Re: Roof replacement

I prefer the 30 year laminates over the 25 year 3 tab. Generally, the 3tab is more labor intensive while the material for the 30 year is slightly higher. I would get quotes on both and compare several roofers and quotes. If you are in a high wind or hail area, the advantages of the 30 year are even greater.

Mind if I ask why you need to replace the roof? If it is due to hail or wind damage, your insurance company may cover some or most of the cost.
by August
Fri Aug 08, 2014 3:38 pm
Forum: Personal Consumer Issues
Topic: Home Exchange
Replies: 2
Views: 444

Re: Home Exchange

I can't say for sure on your insurance question without reading your specific policy, but many HO policies would cover the building, other structures, and contents from damage by a guest. I'm not sure on the liability part as I have no experience with that side of HO's claims.
by August
Thu Aug 07, 2014 6:16 pm
Forum: Personal Consumer Issues
Topic: Home Siding Options
Replies: 14
Views: 2290

Re: Home Siding Options

Personally I prefer fiber cement siding over metal or vinyl, but that is a personal preference. The Carolinas are not a huge hail area, I think the last storm prior to the one this year was in 2011 or so. Keep in mind that your insurance will probably only pay up to the cost of the siding you had (aluminum). Premium vinyl is usually similar in cost to aluminum, but cement board will be more expensive and thus most likely result in additional out of pocket costs to you. The biggest drawback to vinyl as opposed to other sidings is its tendency to crack, fade, and puncture (rocks from lawnmowers is a huge culprit). The pro's are it is relatively low maintenance. Edited to add: I only bring up NC not being a huge hail area because vinyl siding ...