TAKING BETTER CARE OF HOME

TAKING CARE OF HOME

Recently, I was reading an article in BetterHousekeeper.com that discussed “Taking Better Care of Your Home in 2020”. The article focused on renovating, increasing safety measures like waterproofing areas, and even getting a survey completed on your home, which are all good ideas. However, I contend that there are smaller steps one can take to take better care of their home. Subsequently, there are very basic measures you can take to both protect and increase the value of your home or rental. Consequently, ASAC Jani recommends that you should first invest in some type of renter’s insurance if you are renting a unit, or additional MPI insurance if you own your home.

​RENTERS INSURANCE
When renting an apartment or other type unit for a prolonged period you are paying the owner to live in their unit. Subsequently, if the building is burned in a fire or affected by some other nature disaster the owner’s asset, the building, is protected through their insurance policy. However, as a renter your personal items are your responsibility. That means if you lose all of your possessions the owner has no responsibility to reimburse you for those losses.
However, you can purchase an inexpensive renter’s insurance policy that will reimburse you for your damaged personal items like electronics, furniture, clothing, etc. Check out the SimpleDollar.Com page for the best renters insurance of 2020.

MORTGAGE PROTECTION INSURANCE (MPI)
This year I turned 40 years old and for the first time I started thinking about what will happen to my girls if something were to happen to my husband and I. I started by purchasing life insurance, however, in speaking with my mother about her policies she directed me to consider protecting my home as well as providing financial resources to my daughters. Subsequently, she discussed MPI insurance with me. Mortgage protection insurance protects homeowner’s by paying off the mortgage on the home if the owner is to die. This means that if my husband or I die not only will my children have financial benefits paid out, but they will also have our home completely paid off. Therefore, the last thing my kids will have to worry about upon my untimely demise will be finances.

So there you have it, the first step in taking care of your home is protecting it for you and your off-springs. Furthermore, as you obtain more resources you have to ensure you have the correct resources in place to protect those assets. Subsequently, always do your research. Make sure that you set your budget, compare policies, and ask questions about coverage limits and durations. Following these steps are great proactive measures to ensure your greatest asset is always protected for you and your legacy.
 
 
 

---