curry blog.

It’s Tax Season: Don’t Forget Your Residential Energy Tax Credits

For several years now, the government has been offering tax credits as a way to encourage home owners to become more energy efficient.   Consumers who purchased and installed specific products such as energy-efficient appliances, windows, doors, roofs, insulation and heating/cooling equipment, during 2010, may be eligible to receive a tax credit for 30% of the cost, up to $1,500.  The improvements must meet the energy-efficient standards set by the IRS, and the home which received the upgrades must be an existing primary residence.   It is always best to consult with a tax advisor to ensure you receive the full credit to which you are entitled.  If you prepare your own tax return, make sure you complete Form 5695 properly.  See EnergyStar.gov for a complete summary of energy efficiency tax credits available.  You can also find information through the Department of Energy.   

Since purchasing and installing your energy-saving products, you’re being back with lower energy bills.  By taking advantage of the Residential Energy Tax Credit, Uncle Sam will pay you back some too.

THINGS HAPPEN! ARE YOU COVERED?

The single best way to protect your investment in your home is by owning a homeowner’s insurance (HOI) policy.  Let’s take a look at the 4 main categories of coverage that normally appear in a HOI policy.

Dwelling.  The most effective type of coverage for the home in which you reside is replacement cost coverage.  Payment based on the replacement cost is usually the most favorable figure from your point of view because it compensates you for the actual cost of replacing property. The key to determining how much dwelling coverage you need isn’t the value of your home but rather the money you’d have to pay to rebuild it. 

Other Structures.   Examples of other structures covered by HOI would be a detached garage, workshop, storage building, barn, etc.   Your policy covers all of the other structures that might be located on your property besides the home itself.  The same coverage rules apply here as the dwelling insurance – the total amount of coverage should be high enough to rebuild the entire structure if completely lost. 

Contents.  In the case of the contents, an inventory of items room by room is important to have with information such as the date purchased, serial number, the original cost of each item and a brief description. Video tape or still photos is very helpful along with the inventory. These items should be stored in a safe place such as a safety deposit box in a bank and not in the home.  Limitations are normally set for high-cost items such as jewelry, fine art, furs, electronics, collectibles, oriental rugs and antiques. If a thief comes in and steals a two-carat engagement ring, it may not be covered well enough without a personal property rider to cover specific, costly items.

Liability.   As a homeowner, you automatically assume some responsibility for what happens in and around your home.  Homeowner’s liability insurance provides for protection in the event someone gets hurt or property is damaged.  In case of either event, or a combination of the two, you are at risk of severe financial loss as a result of being found liable. In addition to covering medical expenses or cost of repairs, the liability part of your HOI usually pays for court costs should a lawsuit arise.  Don’t skimp on your liability limits!

It’s a good idea to read your policy and become familiar with what is covered and is not covered.  You may be pleasantly surprised to find that a policy covers you for more things than you originally thought.

If you have a question about your homeowner’s policy or would like a free quote, call Lee Newsome, Personal Lines Agent, at Curry Insurance Agency– 478-272-2335 or toll-free 800-596-5664.

The Heart of Georgia is The Place To Be

What’s so great about living in the Heart of Georgia area?  Most of us who have the privilege of living here will say it’s the people.  That’s right; good ole Southern Hospitality at its best! 

But that’s not all there is to appreciate . . . There are 12 counties that make up what we refer to as the Heart of Georgia.  They are: Laurens (Dublin), Bleckley (Cochran), Dodge (Eastman), Emanuel (Swainsboro), Johnson (Wrightsville) Telfair (McRae), Treutlen (Soperton), Montgomery (Mt. Vernon), Twiggs (Jeffersonville), Wheeler (Alamo), Wilkinson (Irwinton), and Washington (Sandersville).  And Curry Companies has listings throughout the Heart of Georgia.  

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