This is an interesting article and one we all should read and take note of when next we purchase a property, very interesting. Below is part of the article and the link to the full article is below

Since Rutzick’s new home had only two previous owners, he says, “The chances of a hidden grantor coming out of the woodwork and saying ‘I own it and you don’t’ is so incredibly small, [title insurance] just seems unnecessary.” He estimates he saved himself about $3,600 by not buying owner’s title insurance.

While shaving a few thousand dollars off closing costs is tempting, many in the real estate industry recommend against it. Pam Hamrick, vice president of LendingTree.com, says she has seen customers without title insurance policies run into problems that are expensive to clear up. “It’s like homeowner’s or auto insurance. No one wants to pay for it, but when you need it, not having it is unthinkable,” she says.

Even relatively new homes, such as Rutzick’s, carry risks, adds Hamrick. Liens can be placed by builders, contract workers, and

Click here for the link to the full article

Technorati Tags: title insurance, home insurance, title, home, insurance

Along with qualifying residents for disaster assistance, the National Flood Insurance Program lets home and business owners buy federally subsidized flood insurance that pays out even if no federal disaster is declared after a flood, Clark said.

Homeowners in frequently flooded areas that dropped out of the program may find it extremely expensive or impossible to get private flood insurance, Gray said.

Read more here from the Chicago Tribune

Technorati Tags: flood insurance, natural disasters, flood, insurance

The differences between the McCain and Obama plans are big – really big. Philosophically, McCain’s approach is market-based and tax policy driven, relying on individuals to make the best decisions on health care procedures and treatment. His plan would remove the favorable treatment of employer-funded health insurance, instead providing a refundable tax credit of $2500/individual or $5000 per family to help them buy insurance (note – the average individual policy now costs over $4000 and the average family policy cost exceeds $12,000). Conversely, Obama’s plan is more pragmatic, focused on fixing the problems with the current market-based system with a ban on medical underwriting, a comprehensive ‘minimum’ benefit design, financial help for small employers buying health insurance, and some sort of stop-loss insurance for high dollar claims.

As does McCain, Obama relies on private insurers to provide health insurance, but from there the two candidates’ plans diverge dramatically. One area where the plans appear to be similar is their stance on mandated universal coverage. While neither mandates coverage, Obama comes much closer, requiring universal coverage for children. But the Senator’s plan and public statements are a little disconnected; in Obama’s speeches and ads the Senator does appear to endorse mandated coverage - eventually.

Obama’s plan requires insurers take all comers, regardless of pre-existing medical conditions. Notably, although McCain’s original talking points did not mention guaranteed insurability, his campaign website now at least speaks to the issue – but his plan does nothing to change the status quo.

Health care can be expensive but we should ask ourselves, how important are we and our families….

read the whole article here

Technorati Tags: health insurance, Obama, McCain, health, insurance