History Of Flood Insurance

InsureUS Cypress, TX, offers flood insurance policies, to Texas residents. While Texas does not require homeowners to purchase flood insurance, the State has a history of catastrophic floods. 

History of Flood Insurance

There is a U.S. Constitutional basis for government control over protecting America’s waterways.  In 1824, the U.S. Supreme Court, in Gibbons v. Ogden, ruled that the commerce clause, Article I, Section 8, permitted the federal government to construct and finance river improvements.  Congress then appropriated funds and authorized the Corps of Engineers to remove navigation obstructions from the Ohio and Mississippi Rivers.   Twenty-five years later The Swamp Land Acts became law which transferred swamp and overflows land to state government control.  One project required that the states use money from land sales to build levees and drainage channels on the lower Mississippi River without the use of federal funds.  

Congress continued its efforts in controlling flooding throughout the nineteenth century and the early twentieth century.  In 1913 the flood in the Ohio River Valley killed  415 people, causing about $200 million in property loss.   The public became alarmed, and Congress took more aggressive action authorizing a Committee on Flood Control in 1916 and the 1917 Flood Control Act. 

FEMA

The framework for flood insurance was built for today’s legal basis for flood control and flood insurance. On April 1, 1979, President Jimmy Carter issued an Executive Order, ordering the creation of FEMA, the Federal Emergency Management Agency. FEMA is within the Department of Homeland Security.

NIFP/PRIVATE FLOOD INSURANCE

FEMA flood insurance aid was delivered through the National Flood Insurance Program (NIFP. On March 16, 212 non-Federal flood insurance was allowed to be underwritten by lending institutions to support private flood insurance.

The agents at InsureUS Cypress, TX want to speak to you before the next flood in your area.  Please contact us before the next Hurricane! 

Avoiding mortgage refinancing scam

Scammers are targeting homeowners, trying to trick them out of cash and home equity, according to U.S. News.

‘Loan flipping’ scams seem to offer relief for those struggling with monthly mortgages. What actually happens is the scammer offers a fantastic deal on lower interest rates or mortgage payments. The homeowner goes through the lengthy loan application process only to find the terms and fees are much higher than advertised.

Scammers get away with this because victims are either too fearful or exhausted by the process to end the deal.

Some schemes strip equity from homeowners who are in danger of foreclosure. ‘Mortgage rescuers’ focus on homeowners who have a lot of equity in the property, but now can’t make mortgage payments. They tell delinquent payers that they will pay off the mortgage if they sign over the deed and make rental payments. Unfortunately, the rental fees are likely to be just as high. The scammer waits until the person falls behind, evicts them, keeps the equity and sells the home or skips town.
Here are things to look for:

  • Leaseback schemes. The scammer is going to own your home and you will rent from him. Always crooked.
  • Bad credit doesn’t matter. Credit always matters. If someone tells you otherwise, be suspicious.
  • Upfront fees. These criminals review public records of people in default on their mortgages. For a big fee, they offer to help homeowners refinance, usually through a government program, but they actually do nothing. In the end, the house is foreclosed, the homeowner loses everything, and the helper pockets the fees.


When is RV Insurance Required?

If you are looking to take a long road trip or go camping, one great investment to make would be to buy an RV. When you have an RV, you will be able to ride in comfort and style. While an RV is a recreational vehicle, it is also an asset that comes with a lot of responsibility. For those that are in the Cypress, TX area, one important decision to make is to choose a good RV insurance policy. There are several situations in which having RV insurance is required.

You Drive It

One situation when you will need to have RV insurance is when you drive it on the open road. Similar to any other vehicle, those that are driving an RV will need to have minimum levels of liability coverage. This type of insurance will protect the other driver if you are at fault in an accident. 

You Have a Loan Outstanding

Another situation in which having RV insurance is a necessity is when you have a loan outstanding. Buy a new or used RV is a very big purchase that will normally require you to take out a loan. If you do have to take out a loan to purchase your RV, the lender will want to ensure that their collateral is properly protected. To do this, they will normally require that you have RV insurance in place as long as the loan is outstanding.

If you are in need of RV insurance in the Cypress, TX area, you should reach out to InsureUS as soon as possible. The team at InsureUS can help anyone to better understand their RV insurance needs. You can then pick the policy that is right for your situation. 

Is college worth the cost to you?

College gives young people more than a degree. It is also offers critical thinking skills while forcing young people to manage independent living.

But is it necessary for everyone?

Many jobs do require a college degree, and graduates do tend to make more money.

In college, you’re acquiring lifelong skills like critical thinking, organization, problem-solving, and teamwork. You also have access to counselors, career centers, internships, job fairs, clubs, and volunteer opportunities to intensify your marketability after graduation.

However, the Federal Reserve Bank of New York reports that 43 percent of today’s college graduates work in a job that doesn’t require a degree. A 2017 Gallup survey revealed that 51 percent of Americans who went to college would consider changing their degree, major, or institution. Moreover, The National Center for Education Statistics found that only 59 percent of college students get their degree within six years.

Try to determine whether the money you’ll earn with a degree will be worth what you’ve paid for it. If you’re not entirely sure about your career choice, you may later regret going to college at all.

While a college degree can open doors, sheer ambition, determination, and willingness to work open others. Do not dismiss such alternatives as trade schools, community colleges, and apprenticeships, among others. Becoming a real estate agent, medical assistant, or web developer doesn’t require a college degree. Capitalize on your entrepreneurial spirit by starting your own business through websites like eBay, Amazon, and Etsy. Take free online classes, learn a trade skill, or earn an associate degree at a community college, among other possibilities.

Most people invest in college to prepare for a productive and rewarding future. This pursuit is viable when you know what you want, manage your expectations, and intend to pay for everything from your own pocket. If necessary, apply for scholarships, find a part-time job, maybe even take a few semesters off to save up before you leave for college.

This way, you may earn a college degree without being haunted by a student loan for years and maybe decades to come.

How to scale the company ladder

It takes more to get ahead in a company than just doing the basics.

“Simply meeting expectations is not enough if you want to get ahead,”

writes business trainer and consultant Cy Wakeman in her book, The Reality-Based Rules of the Workplace.

If you want to climb the ladder, strive to be a low-drama, high-value employee, Wakeman says.

Victor Lipman agrees, and he’s an author and management specialist with more than 20 years of Fortune 500 experience.

“Be relentlessly reliable,” he says. “Reliability is a cornerstone of business and a fine core personal attribute. Businesses may not often need brilliant bursts of artistic creativity, but they always need the trains to run on time.”

For example, try to become a go-to person by developing as many skills as possible. The more you can do within a company, and the more you can learn about its operations, the more relevant you are to its goals.

Your attitude and willingness to work do matter too. Try to be consistently collaborative. In projects involving multiple participants with conflicting views and opinions, the person who can react effectively with all kinds of people is appreciated.

Also, create strong, enduring relationships. In the corporate world, networking has been and always will be an influential factor regardless of an individual’s status in the company. As much as others may profess that professional advancement is based on merit, individual relationships do have their roles in any company, large or small.

Think about ways and means of resolving an issue that may have been gnawing at the company for years. Although some of these problems are unique to each organization, the more common challenges include containing costs, improving production processes, and discovering new markets for established products.

Be a self-starter. Try to identify obstacles before they get worse. Try to be valued as a team member who tries to make difficult decisions easier.

Keep in mind that any solution you propose is likely to be met with skepticism; if not, the issue most likely would have been solved long ago.

Should you succeed–or even make noticeable progress–your efforts could advance your career in ways you had not imagined.

Finally, try to make your boss look good (and if possible, his boss too). This sense can set you apart, showcase potential, and promote an ability to think beyond current circumstances.

Are you checking account wisely? Your credit score could now go up

This year, people who wisely manage their checking accounts could see an increase in their credit scores.

The new UltraFICO credit score will let some consumers offer their banking activity as proof that they are credit worthy.

A credit score has never been based on income. A person who makes $20,000 per year — and pays loans faithfully — could have a higher credit score than a person making $200,000, who doesn’t pay loans on time. The credit score tries to predict if a person will pay back a loan and pay it back on time.

Some people, especially younger people, may not have much of a history of loan payments. Those people pay for things mainly in cash, and through their checking accounts and debit cards, which aren’t counted toward a credit score. If they do apply for a loan, their lack of credit history could put them in the subprime category, scores below 670. They might be denied credit.

With the UltraFICO scoring system, a lender can offer to recalculate a consumer’s score based on banking activity. People who have had a checking account for some time, maintain a balance of about $400, and don’t overdraw are likely to see their score rise, possibly high enough to get a loan and therefore build credit history.

One caution: those who do overdraw their accounts could see their scores go down in an UltraFICO calculation.

Since the subprime mortgage crisis, banks have been focused on only the most creditworthy borrowers. In 2018, a record 58.2 percent of U.S. consumers held a score between 700 and 850, the FICO maximum. These high-score consumers aren’t taking out as many loans these days and lenders have been eager to find responsible borrowers.

Fair Isaac Corporation, the creator of the widely used FICO score, estimates 7 million people with thin credit histories could benefit from an UltraFICO recalculation. Another 26 million people could see an increase, and 4 million could see their score increase 20 points.

How Much Does Boat Insurance Cover?

Your boat is a symbol of success. How horrendous would it be for the thing that represents much of your hard work and diligence to be destroyed? The future may be unknown, but you can work to protect yourself from the total financial loss today. Read on to learn about boat insurance!

What does boat insurance cover?

Boat insurance pays for damages accrued in the event of an accident or another form of disaster. You typically need to pay more for a plan that pays when a natural disaster ruins your vessel. It may also be necessary to pay more if you want a boat indemnity plan that covers more in terms of policy limits.

What about sinking?

Surprisingly enough, some boat insurance plans do not pay for instances where your vessel is destroyed by sinking. It is important to speak with a specialist at InsureUs to ensure that you have the best plan for your watercraft in Cypress, TX.

Is boat insurance just for boats?

You typically think of boat assurance as something solely for boats. You can purchase an indemnity plan to cover other things that operate on the water. Some consumers seek coverage for expensive jet skis. It is better to seek an assurance plan today rather than suffer from a total loss tomorrow.

Does home insurance cover anything?

Your home insurance plan may pay for damages suffered in the instance of your vessel being damaged or destroyed while on your property. A home assurance plan does not, however, pay if your boat is damaged or ruined while attached to a dock. You would need to purchase a boat indemnity plan in Cypress, TX to have that type of coverage.

You have worked hard for your things. Let an expert at InsureUs help you find the indemnity policy that works best for your situation. Call today for a quote!

Common ways to save money on homeowner’s insurance

Although homeowner’s insurance is a necessary expense, there are several ways to reduce these costs with or without spending money on improvements, according to Nerd Wallet.

Some of the simplest reductions, such as bundling the home insurance with auto insurance through the same company or improving your credit score, won’t cost a penny and will likely only require a short phone call. Similarly, raising the amount of the deductible on a policy or lowering the maximum payout for possessions can reduce the rate without any upfront cost. According to Bankrate, you can also receive discounts between 1-20 percent for being a nonsmoker, over the age of 55, part of a homeowner’s association, and not having filed a claim in many years.

For those looking to spend money on home upgrades and renovations, there may be discounts available to help offset some of that spending if the changes make the home safer or more durable.

Many older homes, for instance, have older wiring that poses a much more significant risk of catching fire and causing property damage that insurance companies will often grant a 10 percent reduction in premiums to avoid the potential payoff. In fact, home electrical fires cause an average of $659 million in losses each year while a wiring-related issue causes more than half of those reported. Meanwhile, wind and hail caused by powerful weather can wreak havoc on an unprepared or deteriorated roof, and discounts of 5-10 percent can be had for installing newer, impact-resistant roofing material.

Insuring Your Retail Store

Commercial insurance packages are an essential part of any business’s long-term success plan. Retail stores, however, rely on specific insurance policies to protect them in some key areas. InsureUS is an expert in insurance policies for Texas businesses. How can the right commercial insurance coverage help keep your retail store in the Cypress, TX area profitable?

  • Inventory is the lifeblood of every retail outlet. If you lose a large portion of your product due to theft, accident, or natural disaster, will you be able to replace it all? Opt for a policy that includes inventory insurance coverage to prevent misfortunes from forcing you out of business. Payouts for these policies also cover the cost of supplies and equipment you need to deliver your services or products.
  • What happens if your product is the problem? If a customer is hurt or sickened by a product from your store, you may be held liable for at least part of the damages. Product liability coverage pays for any financial responsibility you incur from a case related to products sold in your store. 
  • When you need to close down for repairs, you don’t have to eat the lost profit potential. Business income coverage pays you when you can’t be open. These payments can be used to pay personal living expenses during enforced closures.
  • Customer injury is a big problem for retail outlets. With medical bills, lawsuits, and possible punitive fees, owners can find themselves dipping into their personal wealth to save their business. A commercial general liability policy helps entrepreneurs pay for court costs and medical care, so random mistakes don’t endanger your livelihood.

More than other business types, retail stores need a strong commercial insurance package to protect their inventory, property, and people. Do you have enough coverage? Contact InsureUS for personalized insurance guidance for your Cypress, TX area business.

Can You Drop Commercial Insurance at Any Time?

Insurance is something that you should always have in place to help protect your business. That being said, sometimes your needs change or you no longer need a commercial policy and instead have the need to cancel. The issue comes when you need to cancel your policy. For those that live in the Cypress, TX area, the agents with InsureUS can help you to cancel your policy and adapt it as needed.

For the most part you can cancel any type of insurance policy at any time for any reason. The issue comes if you are legally required to hold they type of insurance policy that you are canceling. For instance, if you have a car and you cancel insurance on it, you are going to have to take out another car insurance policy to remain legal. The same goes for a home that you owe a mortgage on. For a business, the stipulations are a bit different.

You are not required to hold a commercial policy on a business at all. It is always beneficial however as it protects your business, your employees, and the building in which the business is housed. You can cancel your commercial policy at any time and you may not have to take out another depending on whether or not you owe on the building or the inventory. You should take the time to find out what type of policy you are going to need and what type of legal need you have in regards to your particular business.

For those that live in the Cypress, TX area, the agents with InsureUS can help you to find out what type of policy you are required to hold if any and what type you need to be fully insured.