Are Home Warranty’s Worth the Money?

Many people believe the only good thing about owning a home warranty is that it might help sell your home, but if you're not moving, their protections are limited.

Typically, warranty companies are difficult to deal with. Most require you to use their contractor only; rendering the warranty company only as good as their authorized contractors. If the company partners with unlicensed contractors or contractors with poor Better Business Bureau histories, you could have a mess on your hands. That is, if they even show up.

Consider an alternative: set aside $50 a month in a repair fund. Tap into it instead of a $400 to $600 annual warranty when major things start to fall apart.

Like anything else, you should shop several types of home warranties. Compare their costs, histories and reputations, especially their deductibles and rates-of-response.  But also compare them to the cost of starting your own repair fund -- and to the cost of a solid termite contract that includes a repair guarantee

 

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Sudden, Swirling Firenado Rises out of Farm Fire

Photographer Janae Copelin caught a snapshot last week of a rare weather marvel known as a firenado.  The whirling "fire-devil" was spawned as a farmer burned off his field in Chillicothe, Missouri.  A swirling rotation of smoke, gas and debris, a firenado is generated when an active fire is swept upwards by strong winds, creating a vortex.

"The heat of the fire rising through the air allows the vortex to strengthen and create the firenado," AccuWeather Meterologist Eric Leister said. "The firenado can then suck more brush and debris into itself and fuel the fire further."

Firenadoes can be extremely dangerous, as they have the ability to throw burning embers miles away. They are usually between five and 10 stories high and can measure up to 10 feet wide.

While this rarity lasts usually only minutes, the largest firenadoes have been known to create winds topping 100 mph.

Homeowners need to stay updated on what policies covers

Owners of the 22 homes submitted badly damaged or destroyed in the Yarnell, Arizona area during recent wildfires have asked the Arizona Department of Insurance to review their claims and coverage limits to verify whether insurers carried out policy terms correctly. For other Arizonans and millions of homeowners across the country, the episode underscores the importance of checking occasionally to make sure you have enough insurance to rebuild after a disaster. Insurers regularly urge customers to review their policies and alert them when buying new furnishings or making improvements that increase the value of a dwelling, but homeowners counter that it's still up to the companies to make sure coverage amounts are accurate.

Your homeowners insurance policy might not provide adequate compensation in the event of fire or other disaster. You might be underinsured if:

• Your coverage estimate is based on market prices, which aren't the same as rebuilding costs.

• You haven't included changes or improvements such as a new bathroom, customized kitchen, new flooring or expensive window blinds.

• You live in an outlying area into which laborers and construction materials would need to be imported at added expense.

• You haven't adjusted the coverage value to reflect inflation in materials and labor costs.

• Your home has historical significance or was constructed with unusual building materials.

• You haven't factored in separate structures, added living expenses or landscape-debris removal.

 

Federal report: Climate change puts LI at risk

A new report on climate change could have important implications for Long Island.

According to the National Climate Assessment released by the U.S. Global Change Research Program, rising sea level and coastal flooding are problems that will need to be addressed over the next century.

Experts estimate that the sea level is rising 1 to 2 feet each century, which is bound to cause problems for barrier islands and low-lying areas of Long Island.

The report also warns of prolonged heat waves and drought situations, which could increase the risk of wildfires.

The report states that the implementation of adaptation measures is still at early stages.