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5 Traffic Tickets That Really Raise Your Insurance Costs

by Home Action News

5 Traffic Tickets That Really Raise Your Insurance Costs

 

Getting just one traffic ticket can raise your car insurance costs by up to 93 percent, says a study from Insurancequotes.com.

Each auto insurance company sets its own rules about what happens to your rates when you have a moving violation. Some raise rates for years, while others make you pay a surcharge for a year and then lower your rate if you don’t get another ticket in that year.

Tell Your Teens

The increases can be applied to all the cars on your policy. Your teen may not realize the cost of his bad driving habits will be applied to all cars on the same policy.

Some tickets don’t raise your premiums. Speed cameras and red-light cameras can’t identify who’s driving your car, so getting caught by one of those shouldn’t raise your premiums. However, if you don’t pay the fine on time, the ticket can turn into a more serious Uniform Traffic Citation on your driving record. Your insurance company will see that and could raise your rates.

A serious offense, like driving under the influence of alcohol or drugs, or having accidents on top of tickets, may lead your insurance company to cancel your policy.

What Costs You The Most?

InsuranceQuotes.com and Quadrant Information Services looked at data from large auto insurers and came up with this list of the five most expensive tickets to get:

#1 Drinking and Driving – 93 percent increase

#2 Reckless Driving -- 82 percent increase

#3 Careless Driving 27 percent

#4 Speeding – 21 to 30 percent

#5 Running a red light - 19 percent

New Thick Coatings Offer Hope For Downtrodden Decks

by Home Action News

New Thick Coatings Offer Hope For Downtrodden Decks

 

If you’d rather salvage your old wooden deck rather than spring for the cost of a new one, you may want to consider trying one of the new super-thick 100 percent acrylic latex deck coatings designed specifically to restore, as well as refinish, weather-beaten wood.

Recently introduced as a means of rescuing endangered surfaces of all kinds, these new coatings actually fill in and help conceal cracks and crevices up to ¼-inch deep. They come in a wide range of colors and even create a slip-resistant finish that resists future cracking and peeling.

The products restore, but they can’t undo rot. Before you use them, you will have to replace any unstable or rotten boards and sand any surfaces where the wood is splintered, but otherwise sound.

How To Use It

Here’s what else you’ll have to do to get good results:

  1. Prepare the deck to take the paint by cleaning dirt, mildew and stains with a commercial deck cleaner or by power-washing the surface.
  2. Spot-fill nail holes or large cracks in the wood using a synthetic-bristle brush.
  3. Brush the coating into the spaces between boards, in tight corners and on the edges of the deck.
  4. Roll a generous, even coat on to the rest of the deck.
  5. Roll a second coat on if your deck is badly weather-beaten.

It Works On Other Surfaces

Once the surface of your deck is restored, you may be tempted to use a super-thick coating on other outdoor surfaces. In fact, many of these products can also be applied to porches and patios, pool decks and boat docks – and not just those made of wood, but on composite materials, and concrete, too.

Olympic has an online video that shows the prep steps you have to do before you apply its Rescue It! deck coating product.

Think your deck is too far gone to be saved? Contact me and I’ll put you in touch with a home improvement company that can put in a new deck to maintain your home’s value.

Sneaky Costs Hidden In 0% Credit Card Offers

by Home Action News

Sneaky Costs Hidden In 0% Credit Card Offers

 

The Consumer Financial Protection Bureau (CFPB) says some credit card companies are luring consumers with 0 percent or low-interest offers for specific purchases or balance transfers, then hitting them with surprise interest charges.

When you get offers for balance transfers, deferred-interest offers or convenience checks, read the fine print carefully.

You may find that while you don’t pay a fee for the balance transfer or purchase, you could accrue other charges. 

If you accept a special offer, some credit card companies will start charging you interest on all your new purchases. That means you lose the interest-free “grace period” you enjoy when you pay off your balance by the due date each month.

“The only way for these consumers to avoid interest charges on new purchases made with this credit card is to pay off their whole statement balance, including the promotional balance and the new purchases, by their monthly billing due date,” CFPB officials explained.

More Credit Card Tips From CFPB

Avoid The Interest

If you carry a balance, you can still take advantage of promotional rates and avoid unexpected interest by not making new purchases with the card until you pay off the entire balance.

Make Payments On Time

If you make payments late, your interest rate may rise.

Shop For The Best Rate

Carrying a balance on all your credit cards? Compare the interest rates among your cards to find the best deal for new purchases.

Need help getting your credit in order? Let me know and I'll refer you to a loan officer who can take a look at where you are and make recommendations for improving your credit score.

Displaying blog entries 1-3 of 3

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Contact Information

Photo of Frank Taglienti Real Estate
Frank Taglienti
Berkshire Hathaway PenFed REALTORS®
565 Benfield Road, Suite 100
Severna Park MD 21146
410-440-0824

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