Imagine this: A hurricane is blazing through your city, bringing tornados and isolated flooding with it. Lightning is striking in every direction, thunder is booming, and trees are being tossed in the wind. Suddenly, a tree in your yard is struck by lightning and topples onto your roof, destroying a large portion of your house. Rain pours into your home through the hole the tree created. Your floor has been destroyed, along with other possessions in your home. Do you have enough home insurance to fix your house?

            It is a good idea to review your homeowner’s insurance policy at least once a year. With the prices of building equipment rising each day, you should find out if you have enough insurance to cover the price of rebuilding your whole house. Natural disasters can leave unpredictable and lasting effects on your home. You need to know if you are ready to brave the storm.

            To get an estimated price for the cost of rebuilding your home, ask a local contractor. Replacement cost insurance will cover the expenses if you ever need to rebuild your home but only if you have enough coverage.

            The contents in your home, however; will not be replaced by your replacement cost insurance. The reimbursement for any clothes, furniture, or other possessions is added into the replacement cost of your entire house. When it comes to some of your possessions, such as jewelry, replacement cost insurance will only protect it up to a certain limit.

            Flood damage is not covered in several insurance policies. If you live in a high-risk area for flooding, you should consider purchasing flood coverage through another insurance carrier.

            Make sure you inform your insurance provider about improvements you make to your home. These improvements may require you to purchase extra coverage to protect the new addition or changes to your home.

            Know and review your policy annually in order to ensure proper protection to your house. If you do this, your home will be prepared for every situation.

Be the first to comment!
Post a Comment