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The Clark Howard Podcast
12.03.24 Homeowners Insurance Check-Up / Safe Charitable Giving
Dec 3, 2024
Explore the shifting landscape of homeowners insurance and the risks of being underinsured as home values soar. Discover practical strategies for securing proper coverage and navigating rising premiums. As the holiday season approaches, learn how to donate wisely and avoid charity scams, ensuring your contributions make a real impact. Plus, gain insights into investment strategies tailored for young investors and the importance of regularly reviewing insurance policies for better protection.
29:09
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Quick takeaways
- Homeowners insurance has become increasingly unstable, requiring homeowners to regularly assess and update their coverage to avoid being underinsured.
- During the charitable giving season, it's crucial to research the legitimacy of organizations to ensure donations are effectively utilized and not falling victim to scams.
Deep dives
Understanding Homeowners Insurance Changes
Homeowners insurance has become increasingly unstable and anti-consumer over the last decade, with many insurers opting to non-renew policies in higher-risk areas. As home values have risen significantly, homeowners may find themselves underinsured despite paying higher premiums. It's essential to review insurance coverage limits regularly; failing to do so could lead to inadequate compensation for major claims. Homeowners should proactively assess their coverage and consider raising deductibles to lower premiums while ensuring they maintain sufficient coverage.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode