Does homeowners insurance protect you?

By Heidi St. Jean • Bankrate.com

You expect your homeowners insurance policy to help you recover from a catastrophe by providing you with enough cash to replace anything damaged or destroyed in such an event.

However, read your policy carefully. You may not have the protection you think you do.

"It is standard for most homeowners policies to cover only the actual structure of the house -- not its contents -- for replacement cost value," says Don Griffin, assistant vice president of business and personal lines at the National Association of Independent Insurers.

Unless your policy specifically states otherwise, your home's contents usually are covered only for "actual cash value."

So what's the difference?

Read Full Article on Bankrate.com

Bankrate.com 2008 Insurance Guide

2008 Insurance Guide

General
Find out how to lower your insurance costs, which claims cause your premium to rise, and who has the most unusual polices. Read on

Health
Find out everything you need to know about battling the high costs of employer-sponsored and private health insurance. Read on

Auto
Learn what you need to know about auto insurance, including what to do if you've been in an accident, and which cars are most costly to insure. Read on

Home
How will you protect your most costly asset? Find out what your homeowners insurance covers, and how to get the most out of a claim. Read on

Life
Here are the facts about life insurance and how to know when to cancel your term policy. Read on

Calculators and tools
We'll help you compare rates and shop for the best type of insurance with our calculators and tools. Read on

Advantages of a buyer's agent

Finding the best real estate agent
By Steve McLinden • Bankrate.com

Dear Steve,
My wife and I are starting the process of selecting a real estate agent for our soon-to-begin home search. Is there a downside or disadvantage to using an exclusive buyer's agent or is it as good an idea as it seems?
-- Johnny

Dear Johnny,
To me, there's only an upside, assuming you hire the right agent. That's because the job of an exclusive buyer's agent is to make sure your best interests are always being represented in a transaction.

Sure, you might know of buyers who successfully used a seller's listing agent to work in a dual agency role, representing buyer and seller. Such arrangements are sometimes facilitated by a dual agent who is willing to accept a discount commission -- say 3.5 percent instead the standard 6 percent -- that will come largely or fully out of the seller's pocket. But the ethics of such deals can be questionable, as you can imagine...

Read Full Article on Bankrate.com

4 housing upgrades that don't pay

By Sonya Stinson • Bankrate.com

Most people's idea of a dream home is a haven they would live in for the rest of their lives. But the reality is, you're probably going to be selling your house someday.

In fact, in a 2007 report, the National Association of Realtors said the median length of time recent sellers had spent in their previous homes was six years.

Thinking of renovating your house? Here are four things to avoid if you want to get your money's worth when you sell.

1. High maintenance
2. Overdressed
3. Too personal
4. Unpopular

Read full article on Bankrate.com

When will YOUR housing market recover?

By Marcie Geffner • Bankrate.com

Pundits love to make predictions as to when home prices will stabilize in U.S. housing markets. But even well-respected forecasters and analysts may disagree, and even if a forecast proves true nationally, your local market may behave in a wildly different way. This disconnect between broad-stroke forecasts and small-scale local markets presents quite a puzzle for homebuyers and home sellers, who need to make major financial decisions on the basis of facts, not fiction.

Read Full Article.

10 crucial steps to 'short sale' buying

By Bobbi Dempsey • Bankrate.com

There are very few active buyers in the real estate market these days -- but every one of them seems to be looking to buy a foreclosure or a short sale.

Read Full Article.

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