Could you Rebuild Your Home?

July 30, 2018


Coverage A in your home policy spells out how much money you would have to rebuild your home if it were a loss.  It is shocking to realize that an estimated 75% to 97% of the people who lost their home in the California wildfires last year, did not have enough insurance to rebuild their home and replace the things in their homes.  You go through a terrible tragedy like this and then can't even get back to your "normal" way of living. 


I see many people coming for insurance reviews that have not looked at their home value for many years.  If they are lucky, the insurance company may have put a 5-6% inflation rider in the policy and the house is not too under-insured.  The problem is that many homeowners buy their home and then the mortgage company takes over paying the bill- the owner may see the bill and just dismiss it as they know they don't have to pay.  The value doesn't get reviewed.  


If you haven't looked at your home insurance coverage in the past 2 years, you need to do so- TODAY!  The price of building materials and labor to build a house has gone up 10-15% every year fro the past 3 years.  


Please feel free to give me a call or drop me an email to do an insurance review.  It doesn't cost anything and it could save you from having to hear the question, "which 2 of your 3 bedrooms did you want to rebuild?"

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