
Disasters can strike at any time and that is why it is important that your home is covered for any and all possible disasters.
For many people across the nation, their home is not only their greatest asset, it is also their greatest investment. The importance of a home is undeniable, so it is crucial that you do everything in your power to protect your home, your investment, and your asset from disaster. Homeowners need to update their insurance policy to include any new improvements, major purchases, and the increased rebuilding costs that usually come with home improvement projects. Here are a few tips you need to know to make sure that your home is covered for disasters.
- Do you have enough insurance to rebuild your home?
Some people only insure their home to satisfy the market value of their home. This is a mistake. You need to insure your home for the total amount it will cost to completely rebuild your home, should a disaster completely destroy it. - Do you have enough insurance to replace your possessions?
Most homeowners insurance policies provide coverage for approximately 50 to 70 percent for your possessions, like electronic devices, clothing, furniture, et cetera. Make sure that this percentage covers all your possessions in order to get them back, should they be destroyed. - Do you have enough insurance for additional living expenses?
Your home may not be Rome but it still won’t be constructed in a day. It may take several weeks and you’ll need a place to live during that time. A homeowners insurance policy can cover the costs of living outside of your home to ensure that you have a roof over your head while your main roof is being installed.
For help acquiring the right homeowners insurance, contact the independent insurance professionals at Risk Management LLC in Brookfield, Wisconsin.