You Need Enough Insurance to Rebuild Completely After a Claim
Far too many people do not have enough home insurance to rebuild their homes completely if they are destroyed or severely damaged. Many people forget to factor in inflation when they are faced with the possibility of having to completely rebuild their homes after a natural disaster or fire. This is a particularly devastating hazard for someone who purchased their home many years ago. Your home insurance should cover the cost to rebuild your house at today’s market prices for materials and labor. Many homes that were built several years ago still have the same amount of homeowners insurance on them as when the owners originally bought them. You should purchase either guaranteed replacement cost or extended replacement cost. Guaranteed … Read more