Losing a home to a disaster is a terrible ordeal for a family to experience – even after the initial tragedy has passed, your family is deprived of the comforts or security your old home and belongings provided. It’s times like these that your homeowner’s policy steps in to help you rebuild and replace your belongings.
But what about when the cost of rebuilding a home skyrockets unexpectedly, as it has over the past year or so? Different homeowner’s policies pay out different amounts (read more in the documents below), but almost all policies have an upper limit. Depending on the last time you revisited your coverages, there is a good chance your limit doesn’t take recent spikes in construction costs into account.
This isn’t something you want to find out in the middle of a tragedy, and it’s important for responsible homeowners to know how their insurance coverage limits compare to real world expenses.
Your first step is to know what it will actually cost if you needed to rebuild your home, from scratch, in today’s economy. This number can be very different from your home’s market value, as the documents below explain. Our Agents can help you determine this cost and walk you through the different policy alternatives and adjustments available to make sure you have the coverage that works best for your needs.
Nothing can replace the feeling of ‘being home’, but having adequate coverage can give you a solid foundation if you ever need to rebuild.