Your standard homeowners insurance policy typically covers water damage caused by sudden or accidental leaks inside the house, including a burst pipe or an overflowing appliance. It can also cover water damage caused by wind, hail, ice or snow, for example, if your roof collapses under the weight of ice. However, your policy likely won’t…
There are many strategies for saving for a down payment, including maximizing your savings, reducing everyday expenses, and applying for down payment assistance. You probably don’t have to save 20% for a down payment on a home. Conventional mortgages require only a 3% down payment and FHA loans only require a 3.5% down payment, depending…
The Washington Post / Contributor / Getty Images One in four Americans said in a recent survey that loss of insurance, risks of rising costs or damage from natural disasters were among the top risks to their retirement income. More than half (56%) feel anxiety about how extreme weather could affect their finances or health,…
Nearly all U.S. states prohibit insurance companies from implementing excessive rate increases on home and auto coverage. Even with those protections, the average cost of auto insurance has risen much faster than overall inflation over the past five years, and some state regulators fear that homeowners insurance could soon do the same. The concern has…
