Homeowner’s insurance is one of the most commonly held types of insurance, yet remains one of the least understood. Many homeowners incorrectly believe that their insurance policies will cover them for every conceivable eventuality. The reality, however, is that homeowner’s insurance can contain many restrictions and exclusions that can leave policy holders with a costly coverage gap. 

Here are 6 common misconceptions regarding homeowner’s insurance.


common home insurance misconceptions

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1. Third-Party liability coverage

Many people think of home insurance as only protecting their property and belongings, but it in fact covers far more than that. One of the most valuable aspects of your home insurance policy is third-party liability…

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While it might not be the first thing on your mind when setting up for an open house, it is important to ensure that you have things set up for a safe, secure environment. Most people focus on what the property looks like and what kind of offers they might pull after the open house, but there are some security and legal issues to consider as well.

It’s possible to face injury, theft, or even property damage during this event. If you haven’t put any time into protecting the property, it could be a costly day for everyone involved.

Follow these tips to ensure that you are thoroughly prepared for your upcoming open house inspections.

home with a genkan inspired interior

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#1: Secure Valuables

If the property that will be open to the…

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How to Fund a Down Payment for Your First HomeBeing a homeowner has many benefits. Homeowners can decorate as they wish, own pets without a hassle, gain a tax deduction, and begin to build wealth as they pay off their mortgage and the home increases in value. For many people, however, coming up with a down payment is a significant hurdle. The hurdle, however, can be overcome. Here are some down payment options that can help homebuyers get the keys to their new purchase.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Zero and Low-Down-Payment Loans

Some loans require no down payment or minimal down payments. Examples include:

  • VA loans, backed by the U.S. Department of Veteran's…

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What Kind of Mortgages are Available?Buying a home is an exciting time, but it can be overwhelming, especially for first-time buyers who have decided to stop renting. The mortgage process involves many steps, including pre-qualification and preapproval. Not to mention, there are several different mortgage options offered by lenders. Before starting the house-hunting process, it's important to understand how mortgage options work and what types of loans are available. Here's a broad overview of mortgage options to get you started.

For informational purposes only. Always consult with a licensed mortgage or home loan professional before proceeding with any real estate transaction.

Conventional Loans

Conventional mortgages are a type of loan that isn't insured or guaranteed by the…

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Understanding How Capital Gains Taxes WorkOnce an individual buys a home, their tax circumstances can dramatically change. With homeownership comes property taxes, school taxes (if applicable), and capital gains taxes when the property is sold. The latter tax should be planned for long before a property goes on the real estate market. Not familiar with capital gains tax? Here's a rundown of what all homeowners should know.

For informational purposes only. Always consult with an attorney, tax, or financial advisor before proceeding with any real estate transaction.

What Is a Capital Gains Tax?

If a homeowner sells their home for more money than they paid for it, they might be required to pay capital gains taxes on the difference. Whether this tax is applicable largely depends upon…

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pride month in austin texasHappy Pride Month! A celebration of the LGBTQ+ community's diversity, equality, and visibility. Whether you're a member of the community or an ally, here are events to enjoy and celebrate this Pride month!

West Chelsea Contemporary X Queer Eye's Jonathan Van Ness: "On The Wall"

June 2 - July 11

JVN X WCC 'On The Wall' is a curation of emerging artists featuring Lanecia Rouse, A’Driane Nieves, and Ben Medansky. Featured alongside the current exhibition, Icons & Vandals, are hand-selected works by JVN that offer collectors a chance to acquire original art by the three talented appreciating artists.

Know more about JVN x WCC 

 

2021 aGLIFF Pride Mini Film-A-Thon Weekend

June 4 - June 6

To celebrate Pride month, aGLIFF will host a…

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zilker park in austin texas

Mark your calendars and join the fun with Austin's top events film festivals, live music, Juneteenth, Pride Month celebrations, and more! Check out what to do in Austin this June 2021 with our June Events list!  

Austin Asian American Film Festival

June 4 - June 20

The Austin Asian American Film Festival (AAAFF) celebrates feature filmmakers' unique voices and create a forum where viewers can come together to experience the wide array of Asian American Pacific Islander (AAPI).

AAAFF Event Details

 

Austin Black Pride

June 8 - June 13

This pride month, the Austin Black Pride is a week of events that are created to highlight Austin's Black LGBTQ+ community interests, talents, and culture. The event will be held in various…

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8 great energy-efficient upgrades that yield a good ROIMaking home improvements is a worthwhile investment if planned strategically. Not all embellishments, remodels, or builds will yield a good return on investment (ROI). Fortunately, homeowners seeking to integrate green and energy-efficient features into their houses will find these 8 upgrades bring a great ROI.

Energy-STAR Appliances

Traditionally, appliances were designed for convenience, not energy efficiency. Unfortunately, they were a huge draw on both electricity and water. Today, homeowners can enjoy convenience while simultaneously enjoying a greener lifestyle. Energy-efficient appliances yielding a strong ROI include clothes washers and dryers, dishwashers, refrigerators, and standalone freezers for those with space. Homeowners should…

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Reasons to heavily consider commute times before buying a homeMany people move into their dream home but are then dismayed to learn they have a long or frustrating daily commute. Suddenly, due to stressful commutes, they find they're no longer living the dream. Before bidding on a home and signing on the dotted line, it's important to consider what a daily commute would look like. Important transit factors to think about when buying a home should include the following.

For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.

Access to Roadways

Living near a major roadway has its perks and downsides. Convenience is a huge factor, but tradeoffs usually include noise and extra traffic. For commuters, however, convenience…

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Are Hidden Risks in the Home Jeopardizing Family Safety? Learn More Here!It may come as a surprise to many homeowners that, even with the greatest precautions taken when constructing or remodeling a home, many hidden dangers can still hide. Here, we'll discuss some of the most common home risks and safety hazards.

Carbon Monoxide: The Silent Killer

Statistics estimate that every year, emergency rooms see an average of 50,000 Americans suffering accidental carbon monoxide poisoning. Because it's silent, colorless, and odorless, CO inhalation can—and does—go undetected by homeowners who aren't prepared.

The risk of CO poisoning increases in colder temperatures, as home heating runs longer, cars may be turned on before leaving a garage, and fireplaces start being used. When a CO source such as a gas stove or…

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