Why You Need Title Insurance

Inherited a Home? Make Insurance Job Number One 
During times of grief, insurance and taxes are the farthest things from your mind, but they must be dealt with at some point. If you’ve recently inherited a home from a loved one, there are some important details that you may not have considered.

Think insurance first

One of the first things you’ll need to do is contact your insurance company. Just because the occupant of the house expired doesn’t mean the policy has as well. Ask the insurance company to add your name as the primary insured person, and check to see how long the policy will remain active. This will ensure that any claims filed during this period will be covered.

If you choose to keep the inherited property, it’s a wise move to review the insurance policy before automatically opting for the same coverage. Depending on the area, a home could have appreciated greatly over the years, and the coverage amount needs to reflect current value.

If you rent it

If you choose to rent out the property, speak to your insurance agent about additional coverage specifically tailored to rental properties. You’ll likely need to increase your liability coverage and revise the personal property section of your policy.

Although your insurance policy regards a home as a structure, your insurance agent doesn’t; he or she understands the stress and can help you through the tough decisions so your inheritance will pay off, either as an option to live in or as a source of rental income or cash from its sale.


Our Unique Germs Travel With Us 
ColdHave germs, will travel? Research indicates our germs are as individual as we are. And where we go, they go.

According to the recent Home Microbiome Project study, we leave a bacterial fingerprint that is unique to us as we move around. The study followed seven healthy families in their homes, tracking how and where their bacteria moved and how it affected the “microbiome” (all micro-organisms living on and in family members).

For six weeks, members of the seven households swabbed their hands, feet, and noses-and those of their pets-plus doorknobs, floors, and countertops. Analyzing the samples, the team was able to identify unique bacteria by its DNA.

When we settle, our bacteria settles too. According to Jack Gilbert, the study’s lead researcher, our individual microbiomes takes over a new space within 72 hours.

So don’t worry about hotel room germs. “Within two to three hours you’ve eradicated the previous (guest’s) microbiome,” Gilbert told CBC News.

And replaced it with your own.


Slow Your Perception of Time and Take Control of Aging 

Time“Growing old is mandatory. Growing up is optional.” As author Carroll Bryant suggests, this is one very clear way to age gently. That childlike enthusiasm for life will go a long way toward slowing the passage of time.

As boomers march headlong into old age, there will be radical changes. In effect, boomers will rock the whole concept of aging, beginning with conquering time.

Can we really conquer time? Maybe not just yet. But we can change our perception of time to slow it down. Here’s how:

Habituation, as discussed by Starre Vartan on Mother Nature Network, is one reason why time seems to speed up with age. To many, it symbolizes getting older. As we do the same thing repeatedly over a period of time-the same breakfast, the same way to work-we start to live our days on what Vartan calls autopilot: “(We) cease noticing many of the small things that make one day different from another. This makes time seem to pass much more quickly, since fewer unique moments are being recorded by your brain.”

By comparison, children who are learning and growing have vast numbers of unique moments; time, for them, is a slow crawl.

How do we replicate a child’s approach to time? Live in the moment, suggests Vartan. Do what you love and savor the unique moments. And shake up your routine.

Or as Bryant suggests, don’t grow up. It may not just slow time, it may make life more worth living.


Title Insurance May Prevent Delays at Closing

Buying a home is an exciting event. The search is over, the paperwork is almost done, and you’re on your way to owning a home!

For many home buyers, the process is painless; but for some, plans are delayed due to title issues.

A title professional is responsible for searching public records to ensure that your home is free of liens before you close on it, but sometimes things slip through the cracks. This is why it’s important to have title insurance.

What is title insurance?

If for some reason someone disputes your title claim, title insurance will help provide financial and legal assistance as you get the matter sorted out. There are two types of title insurance (Owner’s Policy and Loan Policy) but as a home buyers you should focus on obtaining an Owner’s Policy during the closing period of your home. It can be purchased for a one-time fee, although prices vary depending on state and region.

Why do I need title insurance?

There are some people in the real estate market who try to take advantage of eager home buyers. Public records can be forged and titles tampered with; as a result of the growth in online real estate sales, fraudsters can easily find targets.

On the other hand, title issues can come out of the blue and from a completely nonthreatening place. Perhaps the original owner filed multiple wills which conflict, or a previously missing heir claims entitlement.

You may think title issues only arise with older homes, but that’s not the case. Even a new house could have problems if the land it’s on has title issues.

Title insurance is considered a good investment for most buyers, as it provides protection for as long as you or your beneficiaries own the home.

Buyers can have peace of mind with title insurance. Talk to your insurance agent for advice.

July 10th, 2015 by Lightship Insurance