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Enough Coverage?

Make sure you have enough insurance to cover the cost of rebuilding your house at current construction costs. To figure out the amount of coverage needed, take the total square footage of the house and multiply by current local rebuilding costs per square foot. For example: A 2000 square foot home with local rebuilding costs of $150 per square foot (2000 * 150) comes to $300,000 of dwelling coverage.

Make sure that your personal possessions are properly covered. We recommend that personal possessions are insured at replacement cost NOT actual cash value.

Most homeowners policies will also provide coverage for loss of use. This means that if you need to live somewhere else while the house is being restored the insurance company will pay for this expense.

Liability coverage is also included on most homeowners policies. This is very important. The minimum on most policies is $100,000. We recommend atleast $300,000.

In addition to the coverages mentioned, there are many other coverages to consider depending on the type of house, the contents in the house and any other structures located on the property. We recommend a review of your coverages be handled by a local insurance professional.

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