Calling all Homeowners – Fall is in the Air

Get your pumpkin spice and scarves ready. Fall is just around the corner. You are probably ready for cooler temperatures and a change of season, but is your home? Changes in season require you to prepare your home in different ways. Fall can have different types of weather throughout the entire season. Here are a few things that you can do to prepare your home.

Clean Out Your Gutters

With fall, there are leaves constantly falling. It is important to assure that there are no clogs in your gutters. Clogs can be cause for water not to drain properly and could cause damage to your roof and/or cause damage to your foundation if the water is running straight down the side of your home.

Get Your Chimney Swept

It is best to have your chimney swept during the seasons that you are not using it. With being in Tennessee, it is hard to make time with the fluctuations of temperature. Early fall is a great time to have your chimney swept. You never know what kind of blockages could have occurred since you last used it during the winter. Even within a year, animals could have been nesting or natural buildup could have taken place causing your fireplace to be unsafe to use.

Get Your HVAC Ready for Heating

Turning your heat on for the first time can be somewhat nerve racking. There can be a slight smell that accompanies the heat being turned on for the first time, but you need to be prepared for what steps you can do to assure that it is just a smell and not a fire.

Checking your filters and cleaning the area around your HVAC are great preventive measures to take to assure that everything goes smoothly while transitioning to heat for the first time in a few months.

Avoiding Homeowners Insurance Claims

By following these suggestions, you may be able to avoid damages that could result in a large homeowners insurance claim. For more information on protecting your property, get in touch with the team at Farmers Mutual of Tennessee.  Since 1913, they have provided quality insurance coverage at an affordable price to residents throughout the state of Tennessee.  Their local independent agent will be happy to help you find the right coverage for your home, mobile home, rental dwelling, or farm at a price that suits your budget. Give Farmers Mutual of Tennessee a call today at (800) 824-9555, and visit them online for more information.

Prepare Your Home for Winter and Prevent Claims

Fall in Tennessee is a wonderful time of the year. At the same time, the beautiful orange, red and yellow leaves on the trees remind us that winter is just around the corner. Freezing temperatures, ice, and snow can cause major damage to your home and other property. Fortunately, you can avoid much of the hassle and expense of damage by performing some basic maintenance before winter arrives and avoid a homeowners insurance claim.

5 Home Maintenance Tips to Prepare for Winter

1. Have the Furnace Checked

A furnace that operates inefficiently consumes excess fuel and produces dangerous gases like carbon monoxide. To reduce utility bills and keep your family warm and safe, change filters regularly and schedule a service check-up with a reliable HVAC company before the temperatures drop. Also, if you have a wood burning fireplace or stove, it is a good idea to have your chimney flue professionally cleaned and maintained to get rid of dangerous, combustible creosote build-up.

2. Remove Dead Trees and Overhanging Limbs

Dead or dying trees and overhanging limbs paired with heavy snow or ice and high winds are a home insurance nightmare. If a branch falls, it could cause serious injuries or property damage. Before a limb plummets onto the neighbor’s car or crashes through your garage roof, have a professional arborist examine the tree and remove the threat.

3. Bring Hoses in From Outside

Garden hoses are not durable enough to withstand freezing temperatures and harsh elements. Also, leaving them attached may cause damage to inside pipes from freezing. Detach the hoses from the exterior faucets, drain them of water, and store them in the basement or garage until spring.

4. Winterize Exterior Faucets & Pipes

After removing hoses, shut off the water lines inside the house that feed exterior faucets and pipes and open the valves to drain any remaining water. Apply winter covers—available at any hardware store—to the knobs and faucets, and insulate any pipes that run along exterior walls or through unheated areas of the house.

5. Clear Gutters

Rain gutters should be free of leaves and debris so melting ice and snow does not find its way into your home. Otherwise, water can accumulate in the congested troughs and form dangerous destructive ice dams. Clean the gutters and make sure downspouts are not clogged. While you’re checking and cleaning your gutters, look for and repair any missing shingles or nails sticking up that may also allow melting ice and snow to leak into your home.

By following these suggestions, you may be able to avoid damages that could result in a large homeowners insurance claim. For more information on protecting your property, speak with your local independent agent or contact Farmers Mutual of Tennessee online or call (800) 824-9555 to speak with one of our representatives.

Since 1913, Farmers Mutual of Tennessee has been providing quality insurance coverage at an affordable price. 

What is the Difference Between ACV and RCV?

This is a type of question that people usually only think about once they have a monetary or significant loss. However, it is important to research these things before selecting home insurance coverage and to know what type of insurance policy you have along with the benefits for the homeowner or individual seeking coverage. ACV (Actual Cash Value) and RCV (Replacement Cost Value) are two different methods of determining the value of a covered loss.

This centers around the fact that homes, like almost everything in life, lose value over time. A roof wears out, flooring gets stained and scuffed, and paint needs an extra coat. Whether it’s something expected to last a long time like framing, or less time like an HVAC unit, every aspect of your home is expected to wear out eventually. And some policies factor the age and lifespan into the value of lost or damaged items when determining a settlement amount.

Actual cash value is defined as “The amount which it would cost to repair or replace covered property with material of like kind and quality, less allowance for physical deterioration and depreciation including obsolescence, and wear and tear.” This means that older and more deteriorated items will be settled at a lower amount than newer ones.

ACV policies are settled by starting with the replacement cost and then subtracting the deductible and depreciation. Below is an example:

Replacement Cost Value policies, however, also pay the amount of depreciation. In most cases, FMT will make an initial payment that is the ACV amount, but once they get verification that the work has been completed (usually by a Contractor’s Completion or a Certificate of Completion sent along with photos of the completed work), we release another payment for the amount of depreciation that was initially subtracted. This is called “recoverable depreciation.”

If you are not sure which type of policy you have, we recommend that you reach out to your local agent or call FMT Insurance at 1-800-824-9555.  At FMT, we have trained insurance professionals experienced in listening and providing the best insurance service to fit your specific need.  Don’t delay, call or contact us today!