Is your most valuable asset protected? Are you sure? For many people, their home is your greatest asset. Yet studies show that 59% of today’s homes are underinsured by an average of 22%. To protect their investment, homeowners should update their insurance regularly to include improvements, major purchases and increased rebuilding costs.

The cost of building or repairing a home has increase dramatically in recent years, and according to the U.S. Census Bureau, homeowners spent over $218 Billion on additions, alterations, maintenance and repairs. Materials like lumber, cement, gypsum and structural steel products have become scarcer because of both global demand and the recent devastating storms along the Gulf Coast.

To properly insure your home, call your agent and ask them the following questions:
Do I have enough insurance to rebuild my home like new?

Homeowner insurance policies provide coverage to the structure for damage caused by named perils – fire, lightening, wind, hail and theft. Your typical policy is written on a replacement cost basis which means that depreciation is not included in the adjustment of a loss. Most policies contain a co-insurance clause that typically requires the home to be insured for at least 80 % of the replacement cost of the dwelling. It is important to check with your agent to make sure that the amount of coverage for the dwelling meets this requirement.

Don’t be underinsured!!!

Call me today and I will be happy to refer to my Agent of Choice in your town.

Debbie