Happy Homeowner Scorecard Step 1 of 8 12% Simple Secret #1 - Happy Homeowners Weatherproof Their Home's Value* I do not know what my home’s replacement value is. I have never discussed this subject with my insurance agent. I vaguely recall having discussed something about replacement cost of my home, but never went through the calculation in detail. I did receive a replacement cost estimate from my insurance agent, but I decided to insure my home for less than the replacement cost. I have reviewed my home replacement cost in detail with my insurance agent and my home is insured for replacement value. Simple Secret #2 - Happy Homeowners Weatherproof Their Treasure* I do own some personal items, like jewelry that are exceptionally valuable. They may be covered on my home policy, but I’m not sure. I am the named insured on the home insurance and one or more people I live with have personal items in my home, not insured. I do understand the value of my personal property and the personal property of people I reside with. We have decided not to fully insure. I have recent appraisals for valuables and have them fully insured. The property of those who reside with me is fully insured. Simple Secret #3 - Happy Homeowners Get Regular Oil Changes* I am not sure what regular maintenance should be done on my home. If something breaks, I will eventually get around to fixing it. Sometimes I work on preventive maintenance items for my home. I don't always remember to do things I know need to be done regularly. I have a preventive maintenance schedule for my home and do most of the work myself. I refer to my owner’s manual occasionally. I have a preventive maintenance schedule for my home. I hire insured professionals for some work and perform some work myself. Simple Secret #4 - Happy Homeowners Know Their Limits* I am not sure about the liability limits on my home and auto insurance. Whatever I have is probably fine. I am pretty sure my liability limits on my home and auto are OK. However, I don't remember how my insurance company chose my limits. My auto and home liability limits have been explained to me. My agent made recommendations, but I have decided to have lower limits. My insurance agent explained my potential liability risks in detail. I have chosen to fully insure my liability with an Umbrella Policy. Simple Secret #5 - Happy Homeowners Weatherproof Their Income* If my income was temporarily or permanently reduced, I don't know what would happen. I am really not sure about income replacement. There is a pretty good chance I have some income replacement coverage through my job. If I do have it, I am not sure how much. I reviewed my income replacement risk and understand the consequences of a loss of income. I have decided to “roll the dice”. I know exactly what I would like to see happen if my income was temporarily or permanently reduced. I have purchased coverage for this. Simple Secret #6 - Happy Homeowners Keep Costs Down* When I think about how to keep costs down for my insurance coverage, it seems the best way is to cut coverage to bare minimums. I have home and auto insurance with two different companies. I have low deductibles so I will not have to pay much if I have a claim. My insurance agent reviewed the available options to lower my cost. I have bundled home + auto and decided to pay more for lower deductibles. I have decided to bundle home + auto + umbrella to lower my cost. I have selected higher deductibles to lower my premiums and “Keep Costs Down”. Simple Secret #7 - Happy Homeowners Have a Plan* I never thought about an estate plan. It is really not something I want to think about. I will get around to it...someday. I think we did a will many years ago. It probably needs to be updated. We have not done a POA or Living Will. I guess we should. I have reviewed the Estate Planning Quick List provided by my insurance agent. There are several things we need to take care of and will do so. I reviewed the Estate Planning Quick List provided by my insurance agent. All the recommended estate planning documents are completed. Simple Secret #8 - Bonus Secret - Happy Homeowners Have Guaranteed Income For A Lifetime... Or Two.* I have never really thought about lifetime income. Most people have told me to be concerned about protecting income from my job. I will have at least one source of lifetime income in the future because I am eligible for Social Security. Not sure how it works. I understand the potential claiming strategies for Social Security and the long term implications of my choices to claim at certain ages. I am clear on my Social Security claiming strategy. In addition, I have created other sources of Guaranteed Lifetime Income. To see your results, please provide your email:* Δ
