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Have you done a home insurance check up?

March 30th, 2009 10:49 PM

After all the wind and rain the other day, I found myself thinking about insurance. I heard these tips today from Allen Gayle of Downing & Gayle Insurance and thought they were worth passing along. Be sure to keep you policies updated.

"When we purchase a new house, whether we are upsizing or downsizing, we never forget to talk with our insurance agent about the proper amount of homeowner's coverage. Typically, the mortgage company will insist on adequate coverage. However, such is not the case when undertake a remodeling project.

If we choose to stay in the same house and upgrade the house by renovating or remodeling, we usually don't think to notify our agent about the cost of the project and determine how much it will increase the value of the house. Yes, we all would like to think that it will increase the value of the house. But do you know by how much or if it will increase the cost to rebuild and if that amount is included in the coverage you currently have on your homeowner's policy?

The cost to rebuild changes almost on a daily basis. So be sure that you have your homeowner's policy coverage increased once the job is finished. Or at least have your agent to do an insurance review just to be sure you are adequately insured. Remember, the worst possible time to find out you don't have enough coverage is in the middle of a claim!"

Posted by Louise Griffin on March 30th, 2009 10:49 PMPost a Comment (0)

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