Real Estate Blog

Thursday, 04 August 2022
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We are midway through summer and have had few weather-related issues to deal with this season
(knocking on wood, NOW!) unlike our neighbors to the north in Kentucky where flooding this week has
hit areas hard resulting in wide-spread destruction, leaving many homeless or at the least with some
water damage and without electricity and the usual comforts a home provides.

Tennessee has had its fair share of weather-related emergencies in the past few decades, so you
probably feel ready to handle most small inconveniences that come with the storms each season.
However, it is always good to do a review of your emergency plan and supplies a few times each year to
ensure you and your family are prepared whether you must evacuate quickly or shelter in place!

Generators are a very smart and popular first line of defense in an emergency and have been widely
advertised lately, especially the “whole house” size. Although they are a great investment, depending
on the size of the home, they can start at a cost of around $20,000 for professional installation plus
another $1,000-$1,500/year in maintenance costs to keep the warranty valid. For something that may
never be needed, that is a pretty steep price tag. However, there are many affordable smaller gas-
powered generator options and battery back-up power banks available starting at a few hundred dollars
that can be quite useful during short-term power outages. Some may even be useful during your next
tailgate party! Just remember if you have a gas-powered generator to test it regularly, have a few long
heavy-duty extension cords on hand (refer to your generator’s owner’s manual for proper type/usage
information) and keep your gas cans full!

The next two items needed are water and food. Choose food that won’t require a lot of preparation and
also has a decent shelf life that everyone likes. If you don’t already have these items in your emergency
plan, start with a few days’ supply for each person and pet and gradually add to your stash over time. A
simple internet search will provide some ideas about what to buy. Be sure to store your items in a cool,
dry location and rotate items in and out throughout the year to keep everything fresh.

If there are prescription medications used by members of your household, be sure to know their
location if you had to access them quickly upon evacuation or have some extra over-the-counter
medications and a first aid kit stashed near your food and water supply. You should also have some
cash on hand and know where important items like wallets, keys, phones, charging cables and
eyeglasses are stored if you must leave your home. Not every emergency will happen during the
summer so you will also want to have some cold weather gear and extra blankets on hand. Always have
some extra batteries along with a few flashlights or other battery or solar-powered lights and test them
regularly. And, if you don’t already have one, buy a radio. Choose an old-school model that uses
batteries, a hand crank or has solar-powered capabilities and doesn’t require data streaming to work.

These are just a few simple ideas to get you started on an emergency plan. Most people think about
preparing during or right after an emergency has already happened, then life happens, and they forget
until the next disaster. If you don’t have a plan, there’s no better time to make one than now, while the
sun is shining! .....   "You've Got A  Friend in Real Estate"

 

Jarod Tanksley 615.403.8265

www.BrentwoodandBeyond.com

Brentview Realty  615.373.2814

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Posted on 08/04/2022 9:08 AM by Jarod Tanksley
Monday, 18 July 2022
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Most homebuyers spend countless hours looking for the right home, making sure all the proper
paperwork has been submitted to the right people and then finally get those keys! Woohoo! And then
after closing all that documentation is stored somewhere and most don’t pay attention to the makeup
of their monthly mortgage payment unless it increases. This is especially true if the payment is made
electronically. Most homeowners do take notice when their monthly payment increases, and one major
part of your mortgage payment is the homeowner’s insurance premium.


Every year around the month you purchased your home you probably receive a letter from your
insurance company showing what the current insurance coverage is on your home and reminds you to
contact them if you need to make any changes before the new policy AND premium go into effect. If
you make no changes a new bill is sent either to you or to the mortgage company. Over the last year or
two most homeowners have seen increases in their policy rates when the notices of renewal arrive even
though nothing has changed with coverage and no claims have been filed.


One of the main reasons you are seeing premium increases is directly related to the increase in cost of
labor and building materials. Supply chains are tight making building materials harder to source and
more expensive and the labor shortage isn’t helping either. You have experienced this firsthand if you
have done any home improvement projects during the last year or two. A premium increase is the
insurance company’s way of dealing with rising costs if something happens to your home and you need
to make a claim.


Now is the time to take a closer look at your policy provisions and be certain you have the coverage you
need especially if you have you made upgrades to your home since you purchased it. Did you put in a
new bathroom or upgrade the kitchen? If changes have been significant then you should discuss with
your agent to ensure proper coverage. After all, you probably don’t keep the same insurance coverage
on an old car as you would a brand new one! Keep in mind the many moving parts of a homeowner’s
policy and review it at least yearly to be sure you have the coverage you need. No one wants to think
about losing their home and possessions, but could you afford to rebuild it and replace everything you
own at today’s cost if you suffered a loss?


The same policy review could also save you money! Can your deductible be raised? Are you paying for
coverage you no longer need for example like coverage added for a trampoline you no longer own now
that the kids are out of the house? Did you get a new roof or upgrade a security system? Most
companies also offer discounts if you have multiple policy types with them or if you have newer systems
installed.


Take some time now to review coverage with your agent to protect one of your largest investments!

 

..... "You've Got A Friend in Real Estate"

 

Jarod Tanksley 615.403.8265

www.BrentwoodandBeyond.com

Brentview Realty 615.373.2814

 

 

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Posted on 07/18/2022 10:42 AM by Jarod Tanksley
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