Do you have enough homeowners insurance?


We’ve all been hearing how the price of building has skyrocketed recently and you may think, I’m not going to build, so I don’t need to worry about it. But it definitely affects the amount of money it would take to rebuild if a fire or storm destroys your home. Industry experts believe as many as half of all homes may not have sufficient insurance. Follow these steps.

1. Figure out your rebuilding cost. This is not the same as the real estate price. Rebuilding cost is based on your home size and type as well as local construction costs. This is called Replacement Cost and your insurance agent can assist you in figuring this out.

2. Make sure your insurance coverage matches that cost. Find your policy limits on the declaration page of your policy or ask your agent. If that amount is lower than your estimate to rebuild, you may need more coverage.

3. Check your insurance coverage on a regular basis. We believe you should check your coverage at least annually, when it renews. Make sure to notify your agent if you remodel or make any upgrades to your home. A new garage, outdoor eating addition, or remodeled kitchen may increase rebuilding costs.

Contact us and let Joey & Gina, at Carlin Insurance, help you figure out if you have enough coverage today!

Photo by Kelly L from Pexels