Many Clients try to avoid paying higher insurance premiums, omit features or additions to their home during discussions with their insurance agent. Obviously, the lower the replacement cost on your home, the lower your homeowners insurance premium.
This is penny wise and pound foolish!
Do you realize that if you have a total loss your policy has limits and the rest of the money required to re build your house will come out of YOUR bank account?
To protect yourself and your financial future, discuss your homes many features with your insurance agent. Some of the items to discuss are recent renovations, additions, customization of the home and finished basements along with many more home features.
Most insurance companies use computer based replacement cost estimators which are only as accurate as the information entered. If you have any concerns about the replacement cost of your home or if you have made recent home improvements, call your agent today! This will give you peace of mind and it will not cost as much as you think to insure your home properly.
