The Wonders of Home Insurance

Home insurance can cover so many things, including covering you if you get hurt in an auto accident.  If you currently own your home, chances are good that you are either paying too much or not enough.  The direction usually depends on a few factors, like the age of your policy.  If you bought your policy five years ago, it is time to look again.  Here are some common factors that can cost you thousands either today or tomorrow.

Inflation

Has your real estate property climbed in value, or perhaps construction costs have risen since your last policy?  Chances are it will cost you more to replace or rebuild your home today than it did 10 or even 5 years ago.

Renovation

Doing any type of major home renovation can increase the value of your home.  This is great if you are selling but will you be sufficiently covered in case of fire? Revisit your policy if you have done any renovations

Hazard insurance

If even an inch of your home lies within a flood zone, you have to pay extra for hazard insurance.  But zones can change over time and it is your responsibility to check on your home’s status.

Natural Disaster

You may think flood, wind or earthquake damage is covered in your policy but did you ever ask?