Homeowners Insurance: Is your coverage sufficient?
Do you have adequate insurance coverage for your home? What you paid for your home a few years ago is less than what you would have to pay now to rebuild the same home. Keeping your homeowners insurance coverage updated is extremely important especially in the case of a total loss where reconstruction would be necessary. You should reevaluate your coverage every year or immediately following any home improvements or remodeling. Be sure to have full replacement cost if possible as well insurance on the contents of your home and valuables (itemized if necessary). My insurance company USAA recommends insuring your home up to 125% of its current value in the event that the rebuild cost is greater than the policy limit.
Good coverage for Cincinnati Real Estate is especially important due to all of the elements that your homes encounter through the snowstorms and extreme cold in the winter to the high humidity and strong spring and summer that we will soon be facing.
Here are the construction costs per USAA Magazine Spring 2009 comparing construction costs from 2002 versus 2007.
Comments
cinplify.com
Apr 2nd, 2009Cincinnati Homeowners: Is your insurance coverage sufficient? | Cincinnati Living Online…
While home prices have remained steady or decreased, construction costs have increased. Cincinnati homeowners is your home insured for enough money?…
Mr. Assurance habitation (1 comments.)
Apr 7th, 2009It’s never too enough but it’s always good to have a policy rather not having one !
Real Estate Taxi (110 comments.)
Jun 15th, 2009Protecting your greatest investment should always be something on your mind. Having proper coverage is a must for any home owner.