How much homeowners insurance do I need?

2/13/2023 (Permalink)

If disaster strikes, you'll want enough homeowners insurance to rebuild the structure of your home, to help replace your belongings, to defray costs if you're unable to live in your home and to protect your financial assets in the event of liability to others. Use these guidelines to help determine the coverage and amounts you need.

 Standard homeowners policies provide coverage for disasters such as damage due to fire, lightning, hail and explosions.

Those who live in areas where there is risk of flood or earthquake will need coverage for those disasters, as well. In every case, you'll want the limits on your policy to be high enough to cover the cost of rebuilding your home.

The price you paid for your home—or the current market price may be more or less than the cost to rebuild. And if the limit of your insurance policy is based on your mortgage (as some banks require), it may not adequately cover the cost of rebuilding.

While your insurer will provide a recommended coverage limit for the structure of your home, it’s a good idea to educate yourself as well. To make sure your home has the right amount of structural coverage, consider:

Major factors that will impact home rebuilding costs

• Local construction costs
• The square footage of the structure

For a quick estimate of the amount of insurance you need, multiply the total square footage of your home by local, per-square-foot building costs. (Note that the land is not factored into rebuilding estimates.)

Property Losses & Insurance Coverage

12/6/2016 (Permalink)

Review your insurance details & be prepared to know the facts ahead of time!

Many property owners are uneducated about details of their insurance policies. As you may know a standard property policy does not cover flood, earthquakes or volcanoes. However, 1 out of 3 homeowners don’t know the exact dollar amount or their “cap” for coverage. This means property owners end up paying a lot more out of pocket than expected after a loss. Here is some helpful information to make sure you are prepared for property emergencies; most likely, your insurance carrier does not guarantee the repairs/services provided to your property. Also, don’t assume you must hire the company your insurance carrier suggests. SERVPRO of Hancock Park/Hollywood is a leader in the restoration industry and its professionals are faster to any size disaster. Make sure you are prepared to suffer a major loss to your home by knowing the facts ahead of time.

Holiday Home Safety

12/6/2016 (Permalink)

Happy Holidays from all of us at SERVPRO of Hancock Park/Hollywood!

Decorating your home or business for the holiday season can be a fun activity. But watch out for any fire hazards that can quickly lead to a holiday mishap. Carefully inspect holiday light strings each year and get rid of any with worn cords, loose connections, and/or cracked lamp holders. When switching bulbs out, unplug the light string and be sure to match wattage and voltage to the original bulb. Always make sure to turn off all holiday lights when you are away from your home/business and/or when you are going to bed. Lastly, try to purchase a freshly cut tree, as they are less likely to catch on fire. Keep your Christmas tree away from candles and with enough water. Happy Holidays from all of us at SERVPRO of Hancock Park/Hollywood!

Keep your home protected while traveling: 4 Essential Tips

12/6/2016 (Permalink)

Keep your home protected while traveling: 4 Essential Tips

Murphy’s Law when traveling: “Anything that can go wrong will go wrong, while you’re traveling away from home”. Having to return from a memorable trip to learn that something has seriously gone wrong at home can be distressing. But following is a list of essential tips that will allow you to be stress free while you sit back and enjoy your getaway!

1. Keep curtains open!

You may think that leaving the curtains closed may prevent others from peeking inside your home. However, it is recommended that you leave some of your curtains opened (make sure to keep expensive items out of sight). If your curtains are unusually closed for a long period of time it could become obvious that no one is home.

2. Keep lights on or off?

Leaving the lights on in your home while you’re away may end up costing you more than your mortgage! It is recommended that you purchase an automatic light switch timer so that your lights will switch on and off at certain times during the day/night making it appear as though someone is actually home.  

3. Pull the plug!

It is recommended that you unplug all appliances including, your TV, toaster oven, etc. while you’re away. This may help prevent a power surge which can cause a fire hazard.

4. Piping

This applies to those that reside in very cold regions.  Pipes may be in danger of freezing so it is recommended that you have someone check in on your faucets while you’re away. If very little to no water comes out when turning the faucets on this is an indication that the pipes may be frozen! Take the time to make sure your pipes are properly insulated to avoid this from happening. Finally, show your key-holder (friend/neighbor) the location of the water main shut-off in case a pipe breaks.

These preventative measures only take a few  minutes to complete and can help you keep your home safe from broken pipes(flood hazard), home invasions(property loss/damage), power surges(fire hazard), and more in your absence. In the event that you suffer a loss such as these, please do not hesitate to contact SERVPRO of Hancock Park/Hollywood at 323-545-6115 for all of your restoration needs!

7 Reasons to Choose SERVPRO for Your Property

2/8/2016 (Permalink)

1) 24-Hour Emergency Response: Timely mitigation is key to controlling damage, downtime and recovery costs. You and those who depend on your facility will appreciate the rapid response, and the training of SERVPRO professionals will help limit damage and get your facility back in operation quickly.

2) Communication: You will know what's happening every step of the way. From the first telephone call within the first hour following damage notification, until the job is complete, SERVPRO professionals are dedicated to effectively communicating with property owners and managers. You will be aware of job status and progress through reports that are accessible to you via a secure email link 24 hours a day.

3) Reduce Recovery Time: Your local SERVPRO professionals understand the urgency in responding to your facility following a disaster. By arriving quickly, mitigating damage to the structure and contents, and providing effective cleanup and restoration services, SERVPRO professionals will help you reopen the doors as soon as possible.

4) Lower Recovery Costs Through:

·         Emergency mitigation services that help minimize secondary damages.

·         Proper restoration versus replacement of contents which is less expensive.

·         Faster recovery which lessens loss.

·         Pre-approved pricing and procedures.

·         Comprehensive cleanup and restoration services which help prevent future problems and potential liability risks.

5) Emergency Response Profile: Your local SERVRO professionals can provide you assistance in developing an Emergency Response Profile, which is an integral part of a well-thought-out contingency plan, that will contain information you need in the event an emergency situation occurs.

6) Full Line of Services: Utilizing the right equipment and supplies, SERVPRO professionals can handle all of your cleanup needs. In addition to SERVPRO’s superior fire, water, and mold restoration services, SERVPRO provides cleanup services for those special needs that surpass the capabilities of your regular maintenance staff.

7) A National Leader in Storm Response: In the event of a major catastrophe, the SERVPRO franchise system has a nationwide large loss response team comprised of trained and equipped professionals capable of responding to your facility. While most systems have a waiting list, you get priority service with SERVPRO.