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Sell or rehab? The homeowner’s dilemma

Posted on August 16, 2019July 15, 2019 by Victor Varma

If you are debating on whether to sell or renovate, first ask yourself some questions and then do some math.
First the questions:

Do you love or hate your home? If you hate it, will remodeling really make you love it or just hate it less? If you’ll just hate it less, sell.
Do you love the neighborhood or hate it? If you hate it, remodeling won’t help. Sell.
Do you want more improvements than are reasonable for the neighborhood? Carpet, kitchen, bath, and landscape all recoup costs. But if you want fixtures and amenities that will make your home cost way more than others in the neighborhood, consider moving. You probably won’t recoup the costs at your eventual sale.
If you decide to remodel, calculate how much a renovation or rehab project will cost. Or should cost.
Whether you’re debating on hiring vs DIY or deciding between competing contractors, it’s a good idea to understand what you get for the money as well as what constitutes a fair price.
A few rules of thumb can help, so here are some tips on how to estimate your rehab costs:
Be wary of finding overall estimates online and assuming they work for you. The cost of materials and labor vary by region of the country, so make sure you’re comparing like with like.
Know the cost of materials. This is one of the easiest things you can do to prepare. Create a file and visit your local home stores to find the prices of lumber, windows, flooring, paint, and the like.
Understand the time involved. Have a basic idea of how long it should take to replace a roof or install a window so you can better understand the contractor’s quote. (An entire roof can be done in a day or two, while an uncomplicated window install can be done in a half hour.)
Accessories add up. Remember to budget for things like cabinet knobs, door hinges, trim, and the like.
Think in terms of function, not space. If you’re undertaking a larger project and are the one drawing up a Scope of Work, it’s more accurate to calculate by category of professional. A plumber will take care of your kitchen sink as well as your bathtub, for example. This also helps with the flow of a project, as each of these contractors does their work at different stages.

Can I Have More Than One Boat Insured Simultaneously?

Posted on August 12, 2019August 5, 2019 by agentinsure

Cypress, TX – The Home Base Of InsureUS

We do like things big here in Texas but one thing that can stay slight is the amount of time spent worrying about insurance. When you are out on the water you just want to relax you don’t want to think about what’s covered by your insurance and what isn’t. If you’re fortunate enough to own more than one boat, you can insure more than one boat at the same time.

Though many homeowners insurance policies cover minimal damage to your boat, you want to have more extensive coverage.

If you have one boat docked and you’re using another boat there is a layup provision provided in the state of Texas which will suspend the insurance coverage when the boat is not in use. Speaking with an agent is the best idea as they will know the nuances of what is covered and what isn’t as well as what is beneficial and what is not.

There are various stipulations for boat insurance if the boat is used in ocean water. Again, speaking with your agent will clarify things for you and the more detailed you could be about how you’re going to use your boat the better. In this way, your agent will be able to craft a policy that will cover you and your needs.

Located in Cypress, TX 77429, you can come in today and speak with us about all your insurance needs. If you’d rather call, our telephone number is 281-640-8888. The agents at InsureUS want you to feel secure in your insurance agency choice. Just let us know how we can make this experience more beneficial to you and more customer-friendly today.

Economy by the numbers: Signs point up

Posted on August 9, 2019July 15, 2019 by Victor Varma

Wages are up, unemployment is low and retail sales are growing.
These are the headlines this year from the economy, which promises more good things to come.
What Americans are doing:

Selling and buying homes: 5.35 million sales of existing homes to April of 2019. More people are putting their homes on the market with total inventory up 1.9 percent in April.
Buying stuff: General merchandise sales have been strong and restaurant sales are rising. Total sales at department and clothing stores are expected to fall as online shopping takes over.
Getting new jobs: A shortage of workers and closings of retail stores have slowed hiring. Job growth is predicted to average 160,000 per month, down from 223,000 in 2018. But the labor market is tight with unemployment just 3.6 percent in May, the lowest since 1969. Pay growth is up with non-supervisor worker paychecks rising at an annual rate of 3.4 percent, according to Kiplinger.

Changing jobs? What to do with that 401(k)

Posted on August 1, 2019July 15, 2019 by Victor Varma

There aren’t many things you can do with your 401(k) when you change jobs, but some choices are better than others.

Worst choice: Cash out.
If you went to all the trouble of saving money in a retirement plan, the worst thing you can do before age 65 is cash it out. Any distribution will require a 10 percent early withdrawal penalty if you are under age 59. Plus, anything you take will be taxable that year. There is an exception to the penalty if you are losing a job or changing jobs at age 55 or later, but it is still taxed.
Best choice: Rollover to the new company’s plan. You never get your hands on the money and it never stops growing.
Good choice: Rollover to an IRA. If you have less than 10 years to work, an IRA will offer a wider choice of safe investments and fixed income options, according to Presley Wealth Management.
Possible plan: Rollover to a Roth IRA.
Consult an investment advisor before doing this. The downside is that you pay taxes on the money when you take the Roth plan. The upside is you can start tax-free withdrawals at age 59.
Good option: Leave it where it is.
You won’t be contributing to your old 401(k) if you leave your job, but if you like the current options, consider keeping it where it is. You can roll it over any time

On The Road With Your Business

Posted on July 18, 2019July 18, 2019 by agentinsure

From ride sharing to delivering food and goods, transportation-based businesses have seen a surge in popularity around Cypress, TX. Putting your personal vehicle to run your own business can be a smart choice to earn income in an ever-changing convenience service industry. InsureUS knows one of the most important considerations to make when you start such a business is auto insurance coverage.

Even if your personal vehicle already has insurance, that policy is likely not adequate for commercial use. In fact, accidents that occur while you are using the vehicle for business might not be covered at all by your personal use policy. So, how can you decide if you need a commercial auto insurance policy?

Personal VS Business Usage

A vehicle is considered to be used commercially when a business requires it in order to maintain normal operations and/or it is used over 500 miles per week. How you use your vehicle also matters in determining if it is mostly personal or commercial.

Commercial Examples – Regularly visiting clients or business properties, Hauling equipment to work sites, Delivering goods or paying customers, Selling goods or services out of the vehicle (i.e. a food truck or traveling cleaning service)
Personal Examples – Regular commutes to work, Taking non-work trips with coworkers, Picking up lunch, Business use less than 3 times per month

Unique Opportunities, And Dangers

Using your vehicle to generate income can be exciting, but it can generate problems, too. Your vehicle will likely deteriorate in condition faster and is far more likely to encounter dangerous weather and accidents. These situations are just some reasons why commercial auto insurance offers special coverage for business vehicles.

Whether you’re using your personal vehicle to run your business or own a whole fleet of work cars and trucks, InsureUS encourages all of our Cypress, TX customers to reach out and discuss commercial auto insurance with us today.

Earn high interest with online savings accounts

Posted on July 12, 2019June 10, 2019 by Victor Varma

You might love your local bank, but it isn’t necessarily the place to park money over the long term.
Today, online high-yield savings accounts offer dramatically higher savings rates than brick-and-mortar banks.
A typical savings account in a brick-and-mortar bank could pay .02% APY (annual percentage yield) compared to 2.25% or more with an online bank, according to Magnify Money.
What this means to savings really matters.
A $15,000 savings account at .02% yields about $3 per year — a whopping 25 cents a month. The same amount saved at 2.25%, yields about $337 per year, or about $28 per month.
Online banks are FDIC insured as is the local bank. But online banks have lower overhead with no buildings to worry about.
However, they also may not have ATMs, they might have fees, or require high minimum deposits. But not all do.
Synchrony Bank, for example, has no minimum deposit and no fees, but you are limited to six withdrawals or transfers per month. APY is 2.25%.
The low-interest account at your local bank will give you access to money at all times and likely include easy transfers. Still, these accounts are best reserved for merely separating money to be used for different purposes.
Search for high-interest online savings to compare features.

Securing internet of things

Posted on June 28, 2019May 10, 2019 by Victor Varma

You are on vacation; wouldn’t it be nice to check in on the family pet? Or you are at work; it would be nice to check to see if the baby is down for a nap.
The convenience of security cameras and baby monitors make them an important part of the Internet of Things (IoT).
But they can and do have security issues.
Most security flaws involve software called iLnkP2P, which is often bundled with IoT devices like doorbells and video recorders. The software makes it easy to access remote devices from anywhere in the world, according to Krebs on Security. But they are easily hacked.
Here is what you can do to protect your security:

Avoid connecting devices to the internet without a firewall or in front of a firewall. Keep IoT devices behind a firewall, such as is found on routers.
Change the device’s default credentials if you can. On cameras and DVRs, you might not be able to do that.
Update the firmware when an update is available.
Disable Universal Plug and Play.
Don’t buy Peer-to-Peer (P2P) devices.
Don’t go cheap.
Check out the internet security site: grc.com’s Shield’s Up.

Home Insurance Options in Cypress, TX

Posted on June 24, 2019June 24, 2019 by agentinsure

A home insurance policy helps you rest a little easier in case of covered items, which may include vandalism and theft. Learn more about what home insurance coverage would work for your home and family from your InsureUS agent. In the meantime, here are some essential facts home insurance in Cypress, TX.

What is Home Insurance?

A home insurance policy pays to replace or repair your home and belongings in the case of an unforeseen event. Home insurance typically protects you when your home or property is damaged by a covered event, like a storm or fire. Besides basic coverage, you may want to invest in optional coverage. Texas has a Consumer Bill of Rights that discusses the rights of rents and homeowners. Be sure to ask for a copy of the Bill of Rights when you purchase or renew a home policy.

Is Home Insurance Required?

Home insurance is not required by Texas law. However, if you have a mortgage loan, your lender will require you to buy a policy. Even if you own your home, it’s a good idea to protect your house and personal belongings.

Types of Home Coverage

Ask your insurance agent which of the following are covered in a policy you’re considering.

Dwelling coverage covers the house if it’s destroyed or damaged by an event in your policy.

Personal property coverage pays for clothing, furniture, clothing, and other belongings if they are damaged, stolen or destroyed.

Other structures coverage reimburses you for repairs on unattached structures on your property. This could include storage sheds, garages, and fences.

Loss of use coverage covers other lodging expenses if you can’t use your home due to a covered event.

Personal liability coverage takes care of lost wages, medical bills and other costs for those who suffer injuries you’re responsible for. It may also pay for damages to someone’s personal property that occurs in your home as well as court costs.

Medical payments coverage pays the medical bills if someone else if hurt on your property.

Contact InsureUS in Cypress, TX to set up an appointment for a free quote.

Vested: It’s not what you wear; it’s what you own

Posted on June 21, 2019May 10, 2019 by Victor Varma

It’s a term thrown around a lot, and it sounds important: vesting. As in, being fully vested — that sounds pretty good and it is.
According to the IRS, being vested in a retirement plan means ownership. All employee contributions to a retirement plan are 100% fully vested — the employee owns everything he or she puts in.
However, employers usually provide a match of a certain percentage of employee contributions.
Matching contributions
Employers match contributions made by employees in different percentages. An employer might say: If you put 6% of your paycheck into the 401(k), then we’ll match your contribution by 50%. So suppose your 6% equals $3,000. Then the employer will put in $1,500. That would be an unusually generous match. Typically, an employer may match 3% of the first 6% of the employee’s salary. That equals a 9% contribution — still pretty good, especially over the long term.
They key idea, though, is that the employer sets a certain match percentage. The employer may also have rules about when their contributions are fully owned (or vested) by the employee.
Vesting rules
The employer, along with the fund managers, decides how much of the match the employee owns and when.
Newer employees may start out at lower percentages, but they become fully vested in time.
For example, an employee may become 20% vested in the company match after two years, meaning the employee owns their personal contributions plus 20% of the company match. Many 401(k) plans work out vesting in tiers. The longer you stay with the company, the more of the company contribution you own. An employee might become fully vested in, for example, six years. Then the employee owns 100% of the matching contribution.
Sometimes 401(k)s are set up so that an employee becomes 100% vested at a specific time — say after 2 years. Then they own all the matching funds on one day.
Being fully vested
The good thing about being fully vested is that you own all the money you put in and all the money your boss matches. (Plus, you own all the money that grows over time.) That means you can take the money with you if leave the company or retire.

Book Review: Is Online Interaction Worth Our Privacy?

Posted on June 14, 2019May 10, 2019 by Victor Varma

Although it’s easy to shop online these days–and communicating with others is faster than dialing a phone number–it all comes with a price.
Our privacy.
So warns Shoshana Zuboff, a Harvard Business School professor emerita who has written “The Age of Surveillance Capitalism: The Fight for the Future at the New Frontier of Power” following decades of scrutinizing labor and power in the digital marketplace.
With scant resistance from the law or society, Zuboff writes, surveillance capitalism is very close to shaping the digital future and–in the process–ruling social order.
In its book review, the New York Times notes that instead of serving the needs of people, surveillance capitalists make billions more by monitoring, purchasing, and selling the characteristics of peoples’ behavior. Simultaneously, the fundamental production of goods and services is being governed by “behavioral modification.”
Comparing companies like Google and Facebook to the slaughter of elephants for their tusks, Zuboff writes that instead of being the product, the public is the “abandoned carcass” from the wrenching of raw material from the daily experiences of humans.
Such big tech platforms continue to sell advertising, but now it’s targeted by the behavior information gleaned from users.
The Age of Surveillance Capitalism: The Fight for the Future at the New Frontier of Power
Author: Shoshana Zuboff
Publisher: PublicAffairs
Pages: 704