Happy February. I hope everyone is staying safe and healthy. I am going to get straight to the point. I’m talking specifically, when was the last time you talked to your home insurance agent?
In light of the most current fires, the Marshall fire, the Troublesome fire in 2020 and other individual house fires that are happening. I am stressing that you call your insurance agent to be sure you have sufficient coverage on the replacement of your home if it is destroyed.
At my accountability meeting we started discussing the Marshall fire and a number of us heard that some of the owners had their home insured under the current value of their home.
Our homes have jumped up in value in a very short time. Your replacement value is not what I could sell your home for but what it would cost to rebuild the home. Remember, when selling your home you are also selling the dirt. When you rebuild you still own the lot.
I will be doing some videos this month on various topics concerning your insurance. For instance, what is the difference between cash value and complete cash value. Do you have an umbrella policy and do you need one? How do I get paid when I go to replace my roof? Is mold covered under my policy?
For some of us our homes are our largest investment. Let’s be sure this investment is protected fully from any disaster that may come your way.