Only You Can Protect Yourself

By
Real Estate Agent with DFW FINE PROPERTIES 0506509

Author: Patricia Feager, 1/6/2020

 

 

The Australian Fires is just one more reasonable reminder why we need to have a plan in place and documentation current and safely stored for 2020. This includes getting your affairs in order, insurance records for home, rental, health, auto, life, beneficiaries, executor, and all other directives in case of emergencies. If you run your own business, make sure you have legal documentation as to how you want your business to run in case you’re not there. Contact information should be reviewed for accuracies and current information.  

 

When disaster strikes, it happens fast. With or without warnings doesn’t give you much time to prepare. If you’re not prepared, prepare for lessons learned.

 

When I was young…

In my early 20s, I rented and the property flooded. Everything I owned was ruined. I had no rental insurance and did not take inventory. Therefore, I paid a high price for my own negligence.

 

In my early 30s, I owned a home and had a house fire. After my husband died and before the house fire occurred, I thought I had adequate home insurance and was covered for replacement values. I had no documentation for values or proof of inventory. I received minimum insurance proceeds for an electrical fire caused by aluminum wires. Without documentation for what was lost, including loss of food, clothing, antique coverage for my piano, and separate coverage for guns and jewelry, I received no compensation, not even for time off work.

 

In my early 40s, major theft occurred inside my home. I thought I was covered but when the insurance company found out one of kids gave my house key to one of their friends, it wasn’t considered a break-in or trespassing. Therefore, the thief did not confess or offer compensation, and the insurance company did not pay at all.

 

Life can change in a few minutes or less. Take precautions. Know what your insurance policies say. Make sure your records are current. No matter how many times you learn the hard way, there’s still a lot more to learn. Never loan out your house to anyone. Make sure your kids do not give anyone a house key. When you move into a new dwelling, change the locks. Take inventory. Document. Have receipts and proof of what you own and where it is safely stored in another location. If you own your own business, make sure you have back-up coverage and someone to manage if you can’t. If you are an agent, make sure you know what your Broker’s Policies and Procedures are and that you follow them, letter to the law.

  

Cleanup, salvage, and restoration process, and disruptions in business will rock your boat. Challenges are many. Loss of life will blow someone’s mind. To my knowledge, no amount of money you receive from any insurance company will cover your catastrophe but every penny with count. Don’t bank on family, friends, colleagues, or REALTORS®, Salvation Army, Red Cross, or any charity to help you or your loved ones. Only you, can protect yourself, loved ones, and property.  

 

 

To my knowledge, the only thing safely recorded is your blood.

Carter BoodCare saves lives. 

---Patricia Feager

 

Posted by

Texas Law requires all license holders to provide the Information about Brokerage Services form to prospective clients.

Real Estate Commission Consumer Protection Notice  

 

 dfw fine properties

 

DFW FINE PROPERTIES

                                        3575 Lone Star Circle, Suite 315
                                        Fort Worth, TX 76117
                                        Office: 817-748-4800/FAX: 817-748-4900

                                         Patricia Feager
                                                        Cell: 469-951-4758

                                                        Email: patricia.feager@gmail.com

 

CERTIFICATIONS

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Certified Pricing Strategies; Mastering the CMA
Certified Military Relocation Specialist
Certified Negotiation Expert
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ertified RE Probate Specialist

"With self-discipline most anything is possible." --- Theodore Roosevelt 

 

 

  

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Rainmaker
815,363
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

Absolutely agree.  You need to be ready and have all of your bases covered.  Now I know that you can never fully prepare for a tragedy or emergency but every little bit helps.  Great blog, hope that you have a wonderful Monday!

Jan 06, 2020 08:32 AM #1
Rainmaker
3,471,118
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Patricia - recent events reinforce the issue of self-protection.  And on many levels and because of certain factors.  Your post does not "scare" but definitely continues to "alert" us to be aware.  

Jan 06, 2020 09:29 AM #2
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Norma J. Elkins - Regardless of whether or not it's personal or business, implementing Best Practices extends through all parts of our lives. Sadly, disasters impacts everyone! I recall several years ago when Houston got hit with hurricane flooding (before Harvey). My home insurance policy went up significantly. I thought there was a mistake and when I called my personal Insurance Company, they told be that since hail damage had such a profound effect on the quantity of roofs needing to be replaced, including supply and demand, insurance premiums went up across the entire State of TX. It didn't matter if homeowners didn't file a claim or weren't impacted personally, the cost of insurance went up for all. 

Jan 06, 2020 09:48 AM #3
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Michael Jacobs - I appreciate how perceptive you are! My intent wasn't to scare or for others to think I'm being negative. It has nothing to do with a mindset but to raise awareness. Incidences, such a the fires in Australia triggers memories. 

Jan 06, 2020 09:50 AM #4
Rainmaker
1,328,641
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Wise words...thanks for making us think and also for making us "do something".

Jan 06, 2020 09:56 AM #5
Rainmaker
3,270,447
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

So true, Patricia. We have to take care of our ownselves and our homes. And personal safety is no laughing matter what with another agent killed during a showing in the past week or so. The main thing is to always be aware... and many people drift through life without being so.

Jan 06, 2020 10:15 AM #6
Rainmaker
1,296,359
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Patricia Feager, MBA, CRS, GRI, MRP - Thank you for bringing up a subject we may just take for granted and we should NOT take it for granted. I think another way to document is to take a video of every room and open cabinets as well.  This certainly would be much easier and help you not miss anything.

Jan 06, 2020 10:52 AM #7
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Li Read - To quote a line from "Beautiful Boy," by John Lennon who took that line or was granted permission from an author in Reader's Digest in 1957, life happens when you're busy making other plans. We just don't coast through life. Hopefully, nothing happens but honestly, I can't think of one person I know who can honestly say life is perfect and they are never have any issues because they are so organized, a positive thinker, or whatever.

Jan 06, 2020 10:59 AM #8
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Nina Hollander - Yikes! I had no idea something happened to an agent very recently. That's a news alert to me that I didn't get on National T.V. 

Awareness is everybody's business! Be safe!

Jan 06, 2020 11:01 AM #9
Rainmaker
3,270,447
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager, MBA, CRS, GRI,MRP hi Patricia... if I recall correctly, Lyn Sims posted this on Facebook.

Jan 06, 2020 11:06 AM #10
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Sheri Sperry - MCNE® - You are correct! Video helps but there's more to it than just taking a video of all your contents, closets, cabinets, etc. Before he died, he did a video and put it on a VHS Tape. As you know, the equipment back then was very heavy and bulking and the quality of the film wasn't very great. He rented the camera. Plus, lighting was a problem. So, I did happen to have that VHS Tape but it was rejected for the following: 1) They had no proof of the date that tape was taken. 2) They had no proof that the contents from that tape was from my house (my house burnt and needed to be rebuilt). 3) They had no proof of value or proof of inventory, and 3) I was locked out of my house (it was boarded up) with tape going around the parameter of my home. 4) Once the insurance company got a report from the Fire Marshall that it was an electrical fire, the insurance company brought over a dumpster and parked it on the property (taped off, like a crime scene) and I wasn't allowed to even go through the dumpster or decide what needed to be thrown out or save what I could. 

It was so stressful for me because it happened on the coldest day of the new year in the city where I lived in Illinois (way below zero and wind chill factors taking it down to minus 60 degrees). I had to live in a hotel with my son for a long time.   

Jan 06, 2020 11:18 AM #11
Rainmaker
3,270,447
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Patricia Feager, MBA, CRS, GRI,MRP here's the link to the article about the agent killed in Minneapolis.

Jan 06, 2020 11:28 AM #12
Ambassador
3,885,985
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Patricia this is good advice, and you speak from experience.  I hope nothing of this nature comes your way again, but if it does I hope the steps you have taken have better results than in the past.

Jan 06, 2020 12:56 PM #13
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

George Souto - Sometimes I hate being the voice of experience. Nobody asks for its, but having a better plan and not feeling defeated is the best way to handle it and never blaming yourself either. 

Jan 06, 2020 01:08 PM #14
Rainmaker
3,278,238
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Patricia,  You are so right about this subject.  I need to take a update of all mine.

 

Jan 07, 2020 07:20 AM #15
Rainmaker
1,100,968
Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Talk about the voice of experience. You have survived several catastrophes.  Good info for all. 

Jan 09, 2020 06:16 AM #16
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Will Hamm - You'll be doing yourself and your family a BIG favor! 

May you live long and healthy without worries. 

Jan 09, 2020 06:27 AM #17
Rainmaker
2,096,277
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Sharon Lee - I only listed a fraction. The rest is very, very personal. 

Luxury - Nope never had that.

Entitlement - Never.

Pity - No, thank goodness.

School of hard knocks was very educating and I wouldn't wish any of it to anyone. But it did make me humble and appreciative for the good things in life that I have received, especially what's available free, like the stars in the sky, warm weather, flowers, things in nature, and thank goodness for good people who come into our lives when we need it most without asking. 

Jan 09, 2020 06:31 AM #18
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