David Deem 714-997-3486 Dave@DeemTeam.com If your house gets damaged by a covered peril and the cost of repairs is significantly higher than your deductible, you will most likely decide to file a claim with your homeowners insurance company. Before you do so, it’s important to know what to expect and how to handle each step. Understand Your Coverage Before you submit a claim, read through your insurance policy to make sure that your loss will be covered. Pay attention to the list of exclusions. If your home was damaged by something that is specifically excluded, your claim will be denied. The insurance company may also refuse to pay if the damage was caused or made worse by lack of maintenance. Make sure that you know if you’re covered for replacement cost or actual cash value, and that you understand the difference. Check your policy for additional coverage, like other accommodations, for example, if your home is uninhabitable. Report Damage to the Insurance Company If the damage to y...

David Deem 714-997-3486 Dave@DeemTeam.com For years, real estate has been considered the best  investment  you can make. A major reason for this is due to the net worth a household gains through homeownership. In fact, according to the  2019 Survey of Consumer Finance Data  from the  Federal Reserve,  for the average homeowner: “…a primary home accounts for 90% of the total wealth of a family in the U.S.” How do homeowners gain wealth? Most large purchases, like cars and appliances, depreciate in value as they age, so it’s understandable to question how owning a home can  increase  wealth over time. In a simple equation, the  National Association of Realtors  (NAR)  explains  how the combination of paying your mortgage and home price appreciation grow overall wealth: Principal Payments + Price Appreciation Gains = Housing Wealth Gain As home values increase and you make payments toward your home loan, you’ll gain wealth through...