Finance Blog

Stay financially savvy with the Equifax Advisor.

Sign up for our FREE Monthly Email Newsletter


Thank you for signing up for the FREE Equifax monthly newsletter

In addition to keeping in the financial know, you may be interested in checking your credit score and report.

Understand your credit. Help protect your identity.

Equifax Complete™ Premier Plan

  • Know What May Influence Your Credit Score and Be Alerted of Changes
    Credit score monitoring with custom alerts
    Important Disclosure: The Equifax credit score and 3-Bureau credit scores are based on an Equifax credit score model and are not the same scores used by 3rd parties to assess your creditworthiness.¹
  • Help Protect Your Identity
    Automatic fraud alerts encourages lenders to take extra steps to verify your identity²
  • Lock Your Credit
    The ability to lock and unlock your Equifax Credit Report³
Save 75% your first 30 days with the purchase of Equifax Complete™ Premier

$4.95 for the first 30 days, then $19.95 per month thereafter. You may cancel at any time; however, we do not provide partial month refunds.4

¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.

²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.

³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.

4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.

Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.

Renovating Your Home? Renovate Your Insurance Policy

Written by Ilyce Glink on July 17, 2012 in Insurance  |   1 comment

Consider renovating your homeowner’s insurance policy before picking up a hammer or hiring a contractor. If a fire gutted your home, how would you feel if your homeowner’s insurance policy paid only three-quarters of the cost of rebuilding it? Not too happy—and understandably so. Unfortunately, that’s what can occur…

homeowner's insurance policyConsider renovating your homeowner’s insurance policy before picking up a hammer or hiring a contractor.

If a fire gutted your home, how would you feel if your homeowner’s insurance policy paid only three-quarters of the cost of rebuilding it?

Not too happy—and understandably so.

Unfortunately, that’s what can occur if you forget to update your insurance for such big-ticket items as a remodeled kitchen or brand-new master bath.

And you wouldn’t be alone in this oversight. According to Marshall & Swift/Boeckh LLC, a leading provider of building replacement cost data, nearly two out of three American homes are underinsured. In fact, these property owners have only enough coverage for 82 percent of the cost of rebuilding their homes in the event of a terrible fire.

Driving this disconnect is a lack of awareness about the expense of rebuilding. Simply put, rebuilding a home often costs more than its selling price. In the past year, the price of construction materials like copper piping, insulation, and shingles has climbed, while the market value of many homes has dropped or leveled out. If insurance coverage hasn’t been adjusted to reflect this new reality, there can be a significant shortfall in the event of a fire.

Meanwhile, since the burst of the real estate bubble, home improvements have been on the upswing. Many people have opted to stay put, choosing to convert an attic into a bedroom or renovate a basement to fit their changing needs. They also are investing in decks, vinyl siding, new windows, and garage doors. Perhaps because these improvements cost less than say, a new bathroom or kitchen, it’s even easier to overlook their impact on the cost to rebuild.

How to renovate your insurance

So, what’s a homeowner to do?

First, before picking up a hammer or hiring a contractor, consider renovating your insurance.

If your dream project is going to raise the cost to rebuild your home by 5 percent, talk to your agent about updating your coverage. Before the buzz saw’s first whine, it’s important to understand what’s covered by your insurance policy.

Don’t be shy about asking your contractor for proof of adequate liability and workers’ comp coverage. Hiring contractors who aren’t insured for liability or workers’ comp carries risk. Contractors and employees may injure themselves while on the job—and sue you. Verify the insurance coverage of the contractor and the subcontractors and ask to see their policies.

Keep a running list of small and mid-size projects—the new counter tops, special windows and doors, flooring, and so on. Over time, these projects can add up. Each year, when you renew your policy and you’re calculating your home’s replacement cost, these should be counted along with more expensive home renovations.

Some home improvements—upgrading electrical systems, replacing your roof, and installing fire alarm systems, to name a few—may qualify for premium discounts. Don’t forget to let your agent know about them, too.

It’s all about re-evaluating your insurance needs to align with changes in your life, no matter how big or small. Make sure you are having regular conversations with your insurance agent or carrier about your coverage to help ensure it accurately reflects your current situation and that you are in the best possible position for being appropriately covered in the event of loss or damage.

Ed Charlebois is vice president of personal insurance for Travelers.

The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.

1 comment

  1. Michelle says:

    You have terrific information listed here.

Leave a Comment

Name :

Commenting guidelines

We welcome your interest and participation on this forum, but be aware that comments will be published at Equifax's sole discretion. Please don't use this blog to submit questions or concerns about your Equifax credit report or raise customer service issues. Instead, you should contact Equifax directly for all such matters and any attempts to do so in this forum will be promptly re-directed.

Some other factors to consider when commenting:
  1. Registration and privacy. While no registration is required to visit our forum, participants wishing to post a message must register by creating an account. All personal information provided by forum members incident to registration is governed by our Terms of Use and Privacy Policy.
  2. All comments are anonymous. We'll delete your name, e-mail address, and any other identifying information, including details about your investments.
  3. We can't post or respond to every comment - As much as we'd like to, we can't post every comment, nor can we guarantee that we will respond to each individual message. All questions or comments about your Equifax credit report or similar customer service issues should be handled by contacting Equifax directly.
  4. Don't offer specific legal, tax or financial advice. All of the materials on this Site are for information, education, and noncommercial purposes only and this forum is not intended as a means of expressing views or ideas regarding any specific legal, tax, or investment advice. While offering general rules of thumb is both permitted and encouraged, recommending specific ideas or strategies regarding investments, taxes, and related matters is prohibited.
  5. Credit Repair. This blog is not intended as a venue for the discussion or exchange of ideas regarding credit repair or other strategies intended to assist visitors and community members improve or otherwise modify their credit histories, ratings or scores.
  6. Stay on topic. Your comment should be concise and pertain to the specific post in question.
  7. Be respectful of the community. The use of profanity, offensive language, spam, and personal attacks will not be tolerated and egregious or repeat offenders will be banned from future participation. We encourage disagreement and healthy debate, but please refrain from personal attacks on our WordPresss and contributors.
  8. Finally: Participation in this forum may be terminated by Equifax immediately and without notice for failure to comply with any guidelines or Terms of Use. As such, you should familiarize yourself with all pertinent requirements prior to submitting any response through the blog or otherwise. All opinions expressed in this forum are solely those of the individual submitting the comment, and don't necessarily represent the views of Equifax or its management.

Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.

Insurance Archive