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Archive for July 22nd, 2015

Condo Warranty Can Benefit You

Wednesday, July 22nd, 2015

Fixing creaky old appliances can be costly, and it often seems there is no way of avoiding such expenses. However, many owners and renters have found a solution: purchasing a condo warranty.

Unlike insurance-which covers natural disasters, calamities, and theft-a warranty is a service contract that, among other things, covers major appliances for members of a condominium. These warranties are specifically designed to work within the existing support structure and services provided by your association, so you only pay for the protection you need. Here are four ways a condo warranty can benefit you.

Covers Major Home Appliances and Systems

While the definitions of major systems and appliances may vary from policy to policy, a condo warranty will typically cover HVAC, plumbing, electrical, hot water heaters, garbage disposals, dishwashers, stoves and ovens, washers and dryers, and garage doors. Refrigerators are often covered when they are in the property at the time of purchase. This can be even more beneficial in the event that a retailer or chain goes out of business and/or any coverage you have on the product lapses.

Enhances Market Value

Condo warranties are, in general, cost-saving tools when it comes to maintenance. However, they can also be an enhanced benefit in a competitive seller’s market because they increase a unit’s marketability. According to the National Home Warranty Association, units on the market that covered by warranties tend to sell about 50 percent faster than homes that are not.

Protects from Potential Post-Sale Legal Disputes

Warranties generally protect the condo’s seller from post-sale legal disputes. They allow for the purchaser to invest with confidence, as they are given more security than what is offered by a statute of limitations, which, in most cases, only lasts four years. On the flip side, sellers can avoid legal disputes based on faulty or dysfunctional appliances and systems because they are covered. Of course, reviewing the fine print for specifics is always highly encouraged before purchasing a property.

Provides Peace of Mind

Out of the nine most crucial appliances in the home, at least one is expected to break down at some point in its 13-year average lifespan. A new buyer is assured some peace of mind in knowing that if something goes awry with any of the condo’s major appliances or systems, they will likely be covered by the warranty.

Business Travel Insurance: Important?

Wednesday, July 22nd, 2015

While travel can be smooth, it can also throw some curve balls that can give you a major bump and headache. Travel insurance for businesses trips can be helpful to your company.

Like travel insurance that you take out for a personal trip, the coverage is going to depend on the particular plan that you choose. Some plans offer trip interruption but make sure that it’s a covered reason. Other plans may have coverage for a trip delay. If so, it’s important to know how long that delay needs to be since it can vary from policy to policy and/or company to company. Whatever it is that you are looking for in a policy, make sure that you go over all of the policies and choose the one that best matches your needs. I would strongly recommend that you speak with the insurance agent to get all your questions answered. This is not one of those times where not knowing won’t hurt you: it can and will hurt you if you didn’t read the fine print or didn’t ask all your questions.

Did the business deal fall through and the meeting was cancelled? Many travel insurance policies also have the option to help cover cancelling the already paid trip. Again, always check that this is actually in the policy that you choose. It’s also important that you know if there’s a specific amount related to this.

Needless to say, you should go with a reputable travel insurance company and ask as many questions as you need answered. Although your travel agent can guide you to a good company, you should still do your due diligence. I would personally go with a larger, well-known company rather than a smaller, lesser-known company tat promises you lower prices. Please also remember that a travel agent is not an insurance agent. They are another person in your corner that will fight for you, but ultimately your questions and concerns should be aimed at the insurance agent that’s handling your policies and claims.

In the end, investing in travel insurance for your business trips can be a very great move. While it does require some legwork, it does mean having some comfort knowing that things are not that out of control. It gives you just one more tool to get your job done at the end of the day and one step closer to closing the deal.