Unit Owners Archives - O'Connor Insurance Agency

Easy-to-Miss Cleaning Projects

September 28, 2017 Karen O'Connor

As a busy homeowner, it is easy to fall into the trap of pushing off tasks that maintain the long-term value of your home in favor of more pressing problems. That’s OK, to a point, as certain house-cleaning projects should be in the “long-term maintenance” category. But putting them on hold for too long can have disastrous results. As with so many things in life, preventive maintenance can save a lot of future effort and cost in your home, too.

We’ve put together the following checklist of cleaning projects that can save you headaches – and money – down the line.

Keep up with general cleaning: Giving the entire house a light cleaning every couple of weeks goes a long way toward preventing unwanted build-up. Dust and grime accumulate gradually and can permanently impact the sheen of hardwood and the sparkle of bathroom fixtures. Clutter and smaller messes also often disguise spills, leaks, and stains. Over time, these can set and become more difficult to remove.
Replace air filters: If your heating or air-conditioning system relies on vents or an intake with an air filter, make sure you know the proper replacement schedule. Extending an air filter past its useful life not only lowers your air quality, it also can force your air conditioner or furnace to work harder, leading to more frequent breakdowns.
Clean the dishwasher: The appliance we rely on so heavily to clean up after us needs to be cleaned itself every now and then! Its ability to operate effectively decreases between cleanings, and the longer you wait, the more likely it is to malfunction. A number of moving parts in dishwashers can easily get stuck when they are covered in food or soap residue, which can result in a less-than-appetizing smell that might even transfer to your dishes. For optimal results, periodically remove the filter system from the floor of your dishwasher and clean it off. Then run the dishwasher with white vinegar to remove build-up, stains, and odors.
Make sure drains are clear: A visit from the plumber is guaranteed to be expensive, so we recommend doing everything you can to limit build-up in your drains and toilets. Avoid putting coffee grounds or grease down your sink drains, purchase a drain cover to catch hair in the shower and use a slightly less-luxurious toilet paper to avoid clogs. At the first sign of a clog, use baking soda, dish soap, or store-bought drain cleaner on trouble spots.
Have your carpets cleaned: Heavily-trafficked areas should be professionally cleaned at least once or twice per year, depending on where you live and how conscientious you are about removing your shoes at the door. This will revitalize your carpets, and can prolong their lifespan, too. And whenever a spill occurs, react quickly! Just one noticeable stain can ruin a beautiful carpet. If you’re stumped, search online for a solution – there are an endless number of step-by-step guides to address every conceivable spill.
Check for leaks: Water damage can be one of the most significant (and expensive) repairs a homeowner can face – and it’s tough to spot before it’s too late. Proactively checking areas around bathtubs and sinks will help along with keeping an eye on walls and ceilings for discolorations as well. If a ceiling becomes discolored, investigate what could be causing the stain before giving it a fresh coat of paint.

Think back to when you purchased your home. You probably visited an open house where the fixtures sparkled, the floors gleamed, and the paint looked fresh. Following the checklist above can help you get that new-home feel again, while maintaining your home’s value as well.

Reposted with permission from the original author, Safeco Insurance®.

Four Things to Consider When Insuring a Vacation Home

June 23, 2016 Karen O'Connor

Everyone loves vacation. But, vacationing in your own seasonal home? Even better.

However, there’s a lot to consider when it comes to protecting your investment in a vacation home, and you definitely want to protect it.

To that end, here are four things that may impact the coverage you choose and how much you’ll pay for it:

Separate Policy: Your seasonal home won’t be part of your primary property policy. It needs its own policy, and you can expect it to be similar to the one for your primary residence. However, you do need to watch out for “named perils” coverage, under which your policy explicitly lists the perils it will cover. If a peril isn’t listed, no coverage. We typically steer homeowners away from this type of coverage, in favor of broader coverage.
Location and Occupancy: The “where” of your vacation home is no doubt among the primary reasons you bought it. But, it will also impact your insurance costs. Rural areas are hard for emergency responders to reach, and waterfront homes are prone to flooding. These added risks can mean added insurance costs, such as the need for a separate flood policy. If the home is unoccupied or rented for much of the year, there are even more insurance considerations.
Personal Property: Establishing and maintaining a separate inventory of the things you keep at your vacation home will help you select an appropriate level of personal property coverage. If it’s filled with expensive skiing and snowboarding gear, for example, you may need increased coverage or to schedule some of the more valuable items separately.
Extra Liability Protection: If you plan to regularly host guests at your summer or winter retreat, you should consider an umbrella policy, which will help to increase your liability limits in case someone is seriously injured on your property. This can go for invited and uninvited guests alike.

We know you want to relax and enjoy your chosen spot in the sun – or snow. Having the right insurance coverage helps you do just that, so don’t hesitate to reach out to your agent at O’Connor Insurance at 314.434.0038.

Natural Disasters Don't Have to Mean Disasters for Homeowners

April 21, 2016

What if your home was devastated by a fire, wind or other natural disaster? Are you certain your insurance would cover enough of your home to rebuild at today’s construction costs?

Sure, thinking about the aftermath of a catastrophe is no fun, but consider the alternative. If you don’t plan ahead and consult with your insurance agent to make sure your home is adequately covered before the catastrophe strikes, you could find yourself having to pay $50,000, $100,000 or more to make up for shortcomings in your homeowner’s policy afterward.

Every insurer offers its own coverages, its own limits and its own pricing. That’s where an independent agent can help you…we can shop around for you and find the best and most comprehensive coverage for your money. Plus we have experience dealing with all sorts of claims, so we can advise you on what types of coverage best suit your needs.

Some suggestions to consider when evaluating your homeowner’s policy – some companies offer guaranteed replacement costs. This helps because the insurer promises to rebuild the home at today’s building costs. Also, you should take into account special features of your home like hardwood floors, a newly-renovated basement or a pool in the backyard, as well as all other improvements you have made over time.

Another tip – some insurance companies offer “ordinance-and-law” coverage at an additional cost. That means if your house is damaged, the new construction of the damaged portion of the home will meet current building ordinances in your area, even if the home wasn’t built that way initially. Without this coverage, some companies may only pay to rebuild your house the way it was, which in many instances may no longer be legal accordingly to current building and municipal codes.

There are many things you need to consider when you evaluate your homeowner’s policy to make sure you have the right coverage. When evaluated properly, your coverage will give you the peace of mind to know you won’t be left out in a storm after a disaster.

If you have questions about your homeowner’s policy, please call your independent insurance agent here at O’Connor Insurance Agency. Our number is 314-434-0038.

Improvements, Updates, and Renovations can Change Your Insurance

March 17, 2016 triplestrength

Our homeowner and condominium owner clients take great pride in their homes and communities. All over our region, they make investments in the beauty and livability of their respective homes. When you make a renovation or an update to your home, do you check with your insurance agent?

Improvements Can Lower Premiums – Making changes to your home that reduce the chances of damage and loss can change how much you pay in premiums. Your choice of roofing may lower the risk of wind damage. Updating electric may lower the chance of fire. Plumbing updates can work to prevent flooding. Many carriers offer discounts for security systems. These can all be factors for the rates you pay for insurance.

Increasing Your Home’s Value – If your home improvements have substantially raised the value of your home, it is prudent to have your insurance agent review your coverage. That new kitchen, new addition or wonderful home theater should be covered just like the older features of your home.

When reviewing your coverage, consider the difference in the cost of actually restoring your home may have gone up (see our blog Insurance and Replacement Cost) and your coverage should reflect that. Our team at O’Connor Insurance Agency recommends periodic review of your coverage so that you know your family will be made whole should there be a loss.

Your independent insurance agents at the O’Connor Insurance Agency are interested in helping you get the best value for the coverage you need. Please contact one of our independent insurance agents at 314-434-0038.

Prevent Roof Leaks By Preventing Ice Dams

December 3, 2015 triplestrength

IceDams The icicles that hang from the edge of your roof may be pretty, but they could also be an indication of a serious problem with the roof of your building. Ice dams form at or near the edge of roof decks when melting snow and ice collect and refreeze. This in turn can prevent melt water from flowing into gutters and away from the building. An ice dam can instead direct water up under the roof covering. The insidious flow of water may not be visible until the moisture has lead to rot, mold or worse and can cause a lot of damage.

The most common cause of ice dams is a roof that is too “warm.” Inadequate insulation allows heat from the structure to warm up the roof deck, causing a trickle of melted snow and ice to flow and re-freeze where the roof is cold. Clogged gutters or damaged roofing, such as loose shingles, can contribute to the formation of an ice dam.

Fixing an ice dam after it is formed can be dangerous to both persons and property. Large chunks of ice falling from overhead can cause serious injury or death. Using blunt instruments to break up ice can cause substantial damage to your roof. Employing ice melt chemicals can be effective, but some forms are corrosive and can cause damage to painted surfaces, concrete, plants and pets. When dealing with an existing ice dam, employ a great deal of caution, or better yet, get the help of a qualified professional.

The best cure for an ice dam is prevention. Consider having a contractor examine your roof and attic space for adequate insulation and look for various places where heat may be escaping. Many companies will perform an energy audit and can identify exactly where heat is escaping. Keeping your heat inside living and working spaces has the added benefit of saving your energy dollars.

Other solutions include adding heat tapes to the edge of roofs. This keeps the edge of your roof warm enough so that ice does not form. The obvious downside is the additional use of energy, but in some cases this is the most viable solution.

Condominium Master Policy Basics

July 3, 2014 triplestrength

If you own a condominium, or are a member of the condominium association board, you may have heard of the master policy. The master policy provides liability protection and covers the real property of the condominium buildings. In the event of a fire, storm, or other loss, where roofing, siding, wiring, or plumbing could be damaged.

With some exceptions, the master policy will typically protect portions of the individual unit itself such as the drywall, paint, cabinetry, lighting, and all attached fixtures.

The unit owner’s personal property such as furnishings, electronics, clothes and other possessions are not covered by the master policy. For example – let’s say there is a fire on the deck of your condo. After the fire department finishes, you find the deck, the siding and wall, as well as parts of the kitchen floor were burned. In addition, the walls of your kitchen, some of the wiring, and your kitchen table and chairs are damaged by water.

Generally, the master policy would cover replacing or repairing the deck, siding and walls, and the floor damaged by the fire. The ruined wiring would also be covered. The condo owner’s insurance policy would cover damage to the kitchen table and chairs. A master policy might not cover any upgrades to the condo unit that the owner made, such as updated counter tops or a solar energy system.

The master policy does not cover living expenses during repairs, however both of these can be covered by a unit owner’s policy.

It is important that both the condo owner and the condo association board know what is and is not covered under likely scenarios. Both the master policy and the individual unit owner policy will likely have a deductible. How deductibles are managed between the master policy and the individual policy is an opportunity to save money for both the association and the condo owner in the event of a loss. How this might play out in a loss should be understood ahead of time and procedures should in place to serve the interests of the community and unit owner.

The insurance agent for the master policy should periodically review what is and is not covered under the master policy for an association and detail how deductibles are allocated. Your insurance agent should be available to participate in a question and answer session at a condo owner’s meeting. New condo owners will need information on how to best structure their personal coverage and current residents might benefit from a refresher. O’Connor Insurance recommends such a review at least once per year.

If you have questions about condo association master policies, individual unit owner policies or specific questions about your insurance policy, give our office a call at 314-434-0038.

Have You Made a Home Inventory?

June 18, 2014 triplestrength

You and your family are sitting on the bumper of a fire truck. You kids are wrapped in one of those bright yellow emergency blankets. The smoke alarm alerted you in plenty of time to get out of the house, but the smell of fire permeates the neighborhood. The senior firefighter on the scene walks over to you and tells you that the house has been severely damaged and you will not be able to occupy it that evening.

You have insurance, and the home will be restored. You also have had the foresight to get full replacement value for your personal items. However, after you can safely examine what remains of your home, you realize that you have accumulated a great many things. You look around. You see the remains of a lamp. Where did you get that? Was it a gift? How much was that painting worth? Do you remember who the artist was? What was the name of the silverware pattern you kept in the buffet that is now just charred rubble?

Perhaps instead of a fire, your home was burglarized. In that case, you do not even have damaged remnants of your possessions – just a ransacked home.

Savvy homeowners will inventory their household goods from time to time. In the past, photos and paper ledgers listed the things one owned. These days, there are cell phone applications that allow you to keep a running inventory along with a photo, and even the old ledger and snapshots can be done online, safely storing your information should the need arise.

Taking your Inventory – Ideally one has receipts, but most insurance companies will accept your inventory as proof of ownership when you file a claim. The most important thing is to make sure your inventory captures the data your insurance carrier requires in order to file a valid claim. Check with your insurance agent to learn what is required. Among that data you will find helpful is:

Location – Where was the item located in your home (living room, kitchen, garage)? While not required for the insurance company, but handy to have to help organize your inventory.
Description – What was the item? Record the name and brand as well.
Model – Keep a record of what model of an item you have.
Serial Number – If the police find a suspect in a theft, the serial number may be how they tie them to the crime in your home.
Date Purchased – This will help determine how much depreciation will be applied.
Where Purchased – A helpful note when you go to replace it. Name the store or website where purchased.
Warranty – As long as you are recording information, indicate how long it is warranted!
Price – Indicate how much you paid for the item.
Condition – Especially important for collectibles, but you want to indicate what condition an item is in as you inventory it.
Estimated Value – Also important for collectibles. If you have an idea as to the market value of an item, make a note.
Notes – Have a column where you can add any additional notes relevant to your item
Photo – A nice photo of your property will go a long way to establishing ownership and condition. You may want to take multiple angles, such as both sides of a fine china plate so as to record the hallmark and pattern.

Taking an inventory before a loss allows you to record serial numbers, brand names and other information to allow your insurance carrier help you replace those things you lost. In the event of a theft, identifying marks like a unique serial number may even help the authorities catch the thief. Finally, from time to time, add and remove items to your inventory to keep it up to date.

Online, Electronic or Offline – The disadvantage of a ledger of your possessions is that if you keep it in your home it could be destroyed along with your belongings. That said, there are inexpensive fire-resistant lock-boxes and safes that can mitigate this danger, and may even be a smart place to keep irreplaceable belongings and documents. If you have a safe deposit box, you can keep it there, too.

Online inventories have the advantage of being available anywhere at anytime, but their availability is dependent on that particular firm remaining in business. It would be dreadful to need an inventory in an emergency only to learn the website is no longer available. Choose an online service that you are confident will be around for a long time, or allow you to keep offline backups.

However you do it, make sure before you invest a great deal of effort that your application or offline method is able to accommodate all the information your insurance requires.

Microsoft Excel has a home inventory template you can use to make a spreadsheet of your possessions. Google Drive does as well. Once finished, you can keep the electronic version on your local computer, as well as leave it in a “cloud drive.” You can save a copy to a flash drive, CD Rom and, along with a printout, keep it somewhere safe.

We certainly hope nobody suffers a loss due to flood, fire, storm or theft, but that’s why we have insurance – because it could happen. We install smoke alarms, pay attention to the weather, and lock our homes to protect our property. A home inventory is just another smart step to protect our investments. If you have any questions about the coverage for your personal belongings, call one of the independent insurance agents of O’Connor Insurance at 314-434-0038.

Come Back from Vacation to a Dry Home – Turn Off the Water

June 13, 2014 triplestrength

The scene must have been terrible. Our client had been out of town for just a few days, enjoying time with family and friends. They returned from the getaway to find their recently remodeled kitchen flooded. Even though they had a dishwasher that was only six months old, the water supply line had ruptured. Most of the cabinets under the sink were ruined, and a cascade of water flowed from the mess in the kitchen down a set of stairs, flooding a large part of their finished basement.

When we think of a flood, we think of raging rivers escaping their banks, but most floods are caused by water escaping the plumbing. We also think of pipes bursting in the winter, but even in the summer months, floods in your home or condo can happen.

The water damage can be exacerbated when the homeowner is away. In just a few days wood can be ruined and mold can form on wet surfaces. With a few simple steps you can prevent the damage when you are on vacation or on a trip.

Turn Off the Water – Before leaving on a vacation, turn your water off at the source. Knowing where your water shut-off valve is located is a good idea anyway.

In older homes, shut-off valves may not have aged very well. Consider having a corroded or hard to turn valve replaced by a licensed plumber. Being able to conveniently turn off your water supply with a modern valve will cost less than most homeowner’s insurance deductibles.

Inspect Supply Lines – Items such as toilets, sinks, dishwashers, icemakers and washing machines are supplied with water by either copper, pvc or flexible lines and hoses. Take a look at these supply lines and note any damage, particularly in the flexible lines. Make plans to replace any that are showing their age.

Flexible lines have a lifespan, and need periodic replacement. Check with your licensed plumber about switching out these lines, or even replacing them with more durable options.

Check Your Coverage – As part of your yearly review of your insurance policies, talk with your independent insurance agent about flood coverage, especially if you are a condominium unit owner. For condo owners, the condominium master policy affords a great deal of protection and you may only be responsible for its deductible, but things like personal belongings are not covered on the master policy, or perhaps updated flooring.

If you have any questions about your insurance, the independent agents of O’Connor Insurance are happy to talk with you about protecting your house or condominium. Call us at 314-434-0038.

Did You Budget For A Change In Weather?

March 12, 2014 triplestrength

The Insurance Information Institute posted $1.5 billion in insured losses so far this year due to the near-record snowfall and prolonged extreme cold weather throughout much of the United States. There have been more than 175,000 claims paid for losses such as burst pipes from freezing, ice dams on roofs, roof collapses, downed tree limbs and power lines. Still, the premium increases seem harsh to unsuspecting community associations.

Condominium and attached-home Master Insurance Policies have been taking big premium hits at renewal due to severe weather in our area – going back to before the Joplin tornado.

Weather across the nation has been severe this past winter with the Polar Vortex, and claim costs continue to rise. Insurance companies have paid out millions to replace roofs at just one association, which in turn affects pricing for other community associations.

That is what insurance is for, right? Not in our neighboring states. Just look west to Kansas and Oklahoma, where there are 1-2% Wind and Hail deductibles, where roof claims are settled on the depreciated value of the roofs rather than replacement cost. This might hit Missouri at some point, but right now the premiums seem to be the punishment for our storms.

On the bright side, most detached home subdivisions will not have to worry about large premium increases because they do not have much property to insure, other than a clubhouse or monument. However, the owners may have noticed higher individual homeowner premiums for the past three years.

Solutions are often sought by shopping for a lower-price insurance company. There are occasions when a better premium can be found, but be certain it is apples to apples comparable coverage with a quality insurance company. It is not the Board’s fiduciary responsibility to save money at the loss of protection.

Often, there is no good solution to offset premium increases. Associations shop their Master Policies only to find there is no other insurance company offering a better price for the same coverage. This means many Associations will breach their budgets.

While avoiding insurance premium increases altogether is most likely impossible, there are practices that can help.

A higher deductible will lower the premium and also serve to avoid small nuisance claims which could increase the premium next year. Proactive initiatives such as obtaining reserve studies and adhering to the results creates a well-maintained association. Roof replacement schedules will keep the structures sound and more resilient to the storms.

Have you considered the hail-resistant roofing systems? They cost about 20% more up front, but look down the road at the potential high wind and hail deductibles.

Understand that your original budget may not have anticipated the events that will impact pricing in 2014 and beyond. An additional assessment of your prior budget may leave you better prepared for pricing and deductible increases that may result from historically high property damage and resulting claim costs.

Swim at your Own Risk – Do You Have Flood Insurance?

September 25, 2013 triplestrength

Are you insured against a flood? You may be surprised to learn you aren’t. If you live in a condominium community, most condo associations in the St. Louis Metropolitan area do not provide flood insurance in the Master Policy. A Master Policy is insurance commonly carried by a condominium association and paid for by condo fees. A Master Policy covers property in a development, with the condo owner insuring the contents of their unit, such as furniture and personal possessions.

Homeowners living in detached homes should consider their flood exposure too. While most communities in our area are not in a Special Flood Hazard Area (SFHA) or a high-risk area, it would be a mistake to dismiss the possibility of flood. Many conditions can result in a flood even where there hasn’t been one before, conditions such as clogged or outdated drainage systems or unexpected overflow from new buildings and development nearby.

Given this, anywhere it rains, it can flood. In fact, the Federal Emergency Management Agency (FEMA) reports that last year that more than 25% of paid flood claims involved properties that were not in an SFHA.

There is a lot to learn about the risk of Flood and Flood insurance. A great place to start is FloodSmart.gov and, of course, your insurance agent.