HOME RENEWALHomes are one of those ever present things that we rarely think about- they are just there and ready for us to come back to. Home insurance is similar in that no one thinks about it, we just know we have it. But, over the last few years, a lot has changed:
For those reasons, it's important to check your policy over, year after year. We are happy to chat on the phone, in person, or we can offer an online tool that will guide you through the questions to let us know if you need to update coverage. Give the tool a look! |
HOME VALUECOVID and other market factors have driven up the cost of materials, drastically; shortages, inflation, cost of contractors who are up to their eyeballs in work...
Just back to 2019, we saw an average cost to rebuild between $125 and $150 per square foot. After 2020, we saw prices up to as much as $300 per square foot. Additionally, DIY home remodeling has been a huge thing, with lots of people adding substantial value to their home by making both cosmetic and structural changes to their house. But all the focus is on the remodel, leaving the insurance out of the thought process. There are some endorsements that can be a saving grace by allowing your limit to inflate if you don't have enough at the time of loss, but again, the companies require you to make an honest effort to keep pace with what it should be. All of this makes it super important to review your limit. Click here for the tool |