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:*
