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            We can all agree that homeowner’s insurance is as simple as it gets, but exactly how does one know if they are sufficiently protected? To begin, you can start by asking your agent to run a replacement cost survey of your home every two years or so. In fact, insurance experts stated that the biggest mistake customers make is failing to have enough insurance to cover the cost of rebuilding their home, in the case that it is destroyed.

            Here’s a list of things to keep in mind:

·          Guaranteed Replacement Cost Coverage is the top of the line and most expensive option for homeowner’s insurance available. This means that the insurer will pay to rebuild your home, no matter the cost.

·         Replacement Cost Coverage compensates you for the price you paid for an item without factoring in depreciation. For this very reason, it’s a good idea to keep all the receipts of any high-value items you purchase to make the reimbursement process easier if you experience a loss.

·         The replacement cost for your home and the resale value of your home have no correlation.

·         Since you have updated your policy, if you have purchased any other properties of value such as a television or exercise equipment, you’ll want to update your policy to assure you have enough coverage.

·         If you choose to expand or remodel your home, make sure that your policy accurately reflects the increased property value.

·         Any item on your property that contains a propeller, such as a golf cart or boat, require special protection and must be purchased separately. This also applies for protection from mold, sewage backup, and flood insurance.


It’s important to check up on your homeowner’s policy, which most people forget to do after they purchase it. Remember that anything is possible at any moment, and making sure you’re covered will guarantee that you’re ready for it.

Posted 9:00 AM

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