The Massachusetts Homestead Act

Massachusetts Homestead Act Information

The Homestead Act is designed to allow homeowners in Massachusetts to protect their primary residence against subsequent attachment, levy or sale to satisfy debts up to $500,000.

The Homestead Law does not protect against: taxes or mortgages used to purchase the residence. Homeowners must file for the Homestead Act with The Registry of Deeds office in the county in which the residence is located.

Massachusetts charges a one time Filing Fee of $35 for a Declaration of Homestead.

Contact The Registry of Deeds Division at: http://www.sec.state.ma.us/rod/

You can also reach them at:

617-727-9640
Toll Free: 1-800-392-6090
Fax: 617-878-3511
E-mail: registry@sec.state.ma.us

4th of July Home Insurance Safety Tips

Happy 4th of July from HomeownerQuote.com!

Keep your home and family safe this 4th of July

We’ve identified 3 areas of largest risk to homeowners.

1. Grill Safety- Almost everyone fires up the grill for the 4th of July. Grilling accidents are the number 1 most common insurance injury and property damage claims. This holiday season: make sure you’ve cleaned and inspected your grill. Make certain propane attachents are secure, tight and unencumbered. Does your grill start right up? Does your grill’s ignition button work? Every year many millions of arm hairs get singed (or worse) while grill chiefs attempt to fire up the burner with their butane lighters. Keep your grill far away from your home or porch. Store extra propane tank a safe distance away from the grill, as well.

2. Fireworks Safety- Most firework accidents happen with the “backyard” firework displays (usually consisting of drunk uncle and old fireworks, mostly of the loud, combustible, firecracker, M-80 variety). If you have the opportunity to go to a “professional,” town event your risk of injury or lawsuits are exponentially lower. IE- If you have the opportunity to view rather than host: view. Also, we should mention backyard fireworks can be terrifiying (and dangerous) to pets (& neighbors).

3. Swimming Pool Safety- Swimming pool fun can become dangerous and litigious due to the imminent threat of injury and drowning deaths. If you are the lucky owner of a swimming pool consider purchasing personal liability Umbrella coverage. Relatively inexpensive umbrella coverage can be between $1M – $5M additional personal liability coverage sitting on top of your homeowner insurance’s coverage.

Massachusetts Homeowner Insurance Protection

A Homeowners Policy Protects:

– Dwelling (your home)

– Other Structures, such as a detached garage, shed, fence, mailbox or doghouse

– Personal Property, including furniture, clothing, appliances and much more

– Loss of Use, for living expenses, when the home is damaged and uninhabitable

– Personal Liability Coverage, protects you and your family against a claim or lawsuit if someone is injured or their property is damaged while at your home

– Medical Payments to Others

Coverage Options:

– Personal Property Replacement Cost Protection. Provides full replacement cost (no depreciation)for your personal belongings

– Replacement Cost Protection on your Dwelling. Provides the extra insurance you need to rebuild your house if your coverage amount is inadequate

– Personal Injury. Protects you against libel and slander

– Schedule Valuable Items. Provides a blanket of coverage that is broader than what a basic Homeowners policy provides. It is the right coverage for people who own valuable possessions such as jewelry, fine arts, collectibles, antiques and other “special items”

– Umbrella Policy. Offers an additional $1 million to $5 million of liability protection

– Flood Coverage. Flood damage is typically not covered under a home insurance policy. This affordable coverage covers damage to your property and provides cleanup reimbursement

– Earthquake Endorsement

Consider Higher Home Insurance Deductibles

HomeownerQuote.com often recommends higher deductibles to save money. With no losses, these savings are, literally, money in the bank.

In addition to savings, higher deductibles force one to self-insure the smaller claims. By avoiding submitting claims, consumers preserve their “loss free” credits. By avoiding claims companies are less likely to non-renew, allowing consumers to stay in the voluntary, competitively priced home insurance market.

Massachusetts Home Insurance

Homeowner insurance is designed to protect your home from certain perils such as fire, theft, wind, hail, falling objects, riot, vehicle damage, explosion, smoke and bursting of pipes. Notable exclusions are: flood, earthquake, mold, mildew, rot or animal damage.

When setting up your policy your Massachusetts Independent Insurance Agent will attempt to come up with The Replacement Cost of your home. Not to be confused with Market Value, The Replacement Value is the amount of money it would take to replace you home if it were destroyed by an insurance loss. The Coverage A, Dwelling, amount should represent this Replacement Value.

Complete Protection for Your Home

Your home is one of the largest investments you will ever have. You want to make certain that your coverage is tailored to your individual home and personal needs. Your Independent, Massachusetts Insurance Agent will offer quality, basic coverage with many features and many coverage options to enhance your protection.

Massachusetts Home Insurance

Our Massachusetts Independent Insurance Agency quotes homeowner insurance all day long. Each policy is as different as each house. Each insurance company that writes in Massachusetts has a different appetite for different homes depending on such factors as age, condition, location, owner credit and insurance history.

Some companies have pulled off of Cape Cod worried about the mythic 100 year storm. Some companies will not write a home if it was built before 1930.

Some companies will not write your property if you own a dog of a certain breed (beware: pit bull owners). Some will not write you if you own a trampoline.

It is important to utilize the service of a MA independent insurance agent because your agent will know which markets are the best fit for you and your home.

Call, stop by or click us today for your free, no obligation home insurance quote.

You will be happy you did.

MA Home Buying & Selling Tips

Massachusetts Home Buying Tips:

The home buying process may seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!

Know how much you can afford – This depends on your income, credit, current monthly expenses, down-payment and interest rate.

Shop for a loan -Talk to several lenders, compare costs, interest rates, and negotiate to get a better deal. Consider getting pre-approved for a loan.

Shop for a home – Come up with a wish list. This list should include: price, location, rooms (including bathrooms), age, and condition.

Make an offer – Do not be afraid to make a low offer. As told to us by one real estate agent: “There is no such thing as a bad offer.” Be prepared to negotiate and be prepared to walk away from the deal if the home gets too pricey. Try to remain as emotionless as possible and view the purchase like the business decision that it is.

Get a home inspection – A home inspection is a vital part of the home buying process. Make your offer contingent on this inspection. An inspection needs to be done to tell you about the condition of the home. The inspection can assist you in avoiding buying a home that needs major repairs.

Shop for Massachusetts Homeowners Insurance – Mortgage companies require that you have homeowners insurance in place at the time of the closing. We recommend that you get a quote from http://www.MassQuotes.com.

Sign the papers – You are finally ready for your closing. Be sure to read everything before you sign. An attorney can help assist you with this process.

Move in! – Congratulations on your new home!

Massachusetts Home Selling Tips:

Get pre-approved for a home loan – It is important to know if you are qualified to buy another home before you sign a contract to sell your existing house. If not, you may end up renting or buying something that is far from ideal.

Know your mortgage payoff – It is important to know what the payoff is for your current home mortgage so that you know exactly how much you can afford to sell your home for.

Determine how much your home is worth – Determine your home’s fair market value. Real estate agents will usually help you with this process but you might want to order an appraisal. (Zillow.com can help give you a general idea of your home’s value.)

Estimate the costs to sell your home – Costs can include: commissions if you use a real estate agency to help you sell your home, advertising costs, signs and other fees if you plan to sell yourself, attorney, closing agent and/or other professional fees, excise taxes, other fees typically paid by the seller (surveys, inspections etc…)

Estimate the costs to buy your new home – Estimate buying and moving expenses to buy your new home. Expenses include things such as: loan costs, down-payment, home inspections, title work, paying for a new home insurance policy.

Make necessary repairs – Make all needed repairs unless you want the house to be regarded as a fixer-upper. Not, necessarily cosmetic updates but items in need of repair.

Get your home ready to show – Items include: fresh paint indoors and out, organized closets, cabinets, clean windows and appliances, and a clutter-free look. A little work can go a long way and ensure the offer from a potential buyer that you are looking for.

Sell, sell, sell! – Make your home accessible and always ready to show. Know your asking price & know the very minimum offer that you are willing to accept. Do not be afraid to reject an offer if it is not acceptable to you.

Massachusetts Homeowner Insurance

When shopping for Massachusetts homeowner insurance, it is important to have an additional set of professional, indepedent insurance eyes review your coverage.

When comparing premiums, make sure you are comparing similar coverage.

Some items to review:
What is your present Coverage A, Dwelling amount?
Is this amount adequate?

Does your Dwelling coverage include Replacement Cost Protection?

Does your Personal Property coverage include Replacement Cost Protection?

What are the policy deductibles? Does the policy include a separate wind or hurricane deductible?

Do you have any scheduled personal property items, such as jewelry coverage, on your policy?

If you would like us to review your coverage and give you free, no obligation Massachusetts home insurance quotes, please call or give us a click.

Massachusetts Home Buying Tips

The home buying process may seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!

Know how much you can afford – This depends on your income, credit, current monthly expenses, down-payment and interest rate.

Shop for a loan -Talk to several lenders, compare costs, interest rates, and negotiate to get a better deal. Consider getting pre-approved for a loan.

Shop for a home – Come up with a wish list. This list should include: price, location, rooms (including bathrooms), age, and condition.

Make an offer – Do not be afraid to make a low offer. As told to us by one real estate agent: “There is no such thing as a bad offer.” Be prepared to negotiate and be prepared to walk away from the deal if the home gets too pricey. Try to remain as emotionless as possible and view the purchase like the business decision that it is.

Get a home inspection – A home inspection is a vital part of the home buying process. Make your offer contingent on this inspection. An inspection needs to be done to tell you about the condition of the home. The inspection can assist you in avoiding buying a home that needs major repairs.

Shop for Massachusetts Homeowners Insurance – Mortgage companies require that you have homeowners insurance in place at the time of the closing. We recommend that you get a quote from us at http://www.HomeownerQuote.com

Sign the papers – You are finally ready for your closing. Be sure to read everything before you sign. An attorney can help assist you with this process.

Move in! – Congratulations on your new home!