Market Rebounds Strongly in August

1. Burglary– The risk of being robbed is higher in some areas than others, but even in low risk areas, the threat is there.

2. Fire – Even if a fire is caught and put out, the damage to the home and its contents is devastating.

3. Floods – Since some areas only flood about every 100 years, people can live in an area for generations without knowing they have a threat.

4. Storms – Tornadoes can cause the most devastating damage, but even a strong thunderstorm can be a major threat. Strong winds and lightening can do quite a bit of damage to your home and cause power outages.

5. Lawsuits – Anyone who injures themselves while on your property can sue for damages even if the accident was entirely their fault. People who don’t have insurance to cover awarded damages are at risk of losing their homes.

6. Unemployment – If they lose their job or are unable to work because of illness or injury, they may not be able to keep up the payments and risk defaulting on their loans.

7. Identity theft – If not discovered quickly, a person’s credit can be destroyed and huge credit card bills can be racked up. Some may be forced to sell their homes to cover the costs.

8. Vandalism – Unfortunately, there are unscrupulous people who don’t have any respect for other people’s property. A broken window may be covered by the insurance, but is still a big headache to repair.

9. Winter – Sub-freezing temperatures can cause plumbing pipes to freeze and heavy snows can collapse a roof. If a homeowner goes on vacation to escape the cold weather, they need to make sure the furnace doesn’t quit and let their house freeze up.