Is Your Home Underinsured?
Most homeowners set up insurance at closing and rarely revisit it. With rebuilding costs higher, an old policy may leave a costly gap.
Home insurance is one of those things most homeowners set up at closing and never look at again. That is almost always a mistake.
Construction costs have risen dramatically over the last few years. The policy you bought in 2020 probably covers roughly 60 to 70 percent of what it would actually cost to rebuild your home today. If something catastrophic happens, you are the one covering the gap.
What to do this month: pull out your policy. Call your agent and ask for a replacement cost review. Ask about bundling options you might not be using. Take a phone video of every room in your house and store it in cloud backup.
None of this takes more than an hour. It can save you tens of thousands if you ever need to file a claim. Send me a message if you need a recommendation for a local insurance agent.