Is your home underinsured? Protect your home with the proper coverage in the event of a loss.

Many people insure their home for the market value of the home and not the replacement/reconstruction cost. Unfortunately this usually means your home is under insured. When insuring your home you should insure it based on the reconstruction cost not the market value at that time.

Reconstruction cost it the amount it takes to rebuild your entire home with materials that are similar type and quality of the original building materials.  A home may cost more to replace than it did to buy due to economic pressures and upgrades you’ve made to your home. Your home is most likely your most valuable asset, insuring it for less than it would cost to rebuild means you could be stuck with a big bill after your loss and when you are least able to afford it.

According to a 2009 survey, nearly two-thirds of homes in the United Statesare underinsured. The average homeowner has enough insurance to rebuild about only 80% of their home. It’s like insuring a Lamborghini at a Hyundai price, it may seem like a good idea at the time but the gap in coverage could come back and haunt you.  Contact us today to confirm your home is properly insured.

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