Home is where the heart is. Which would make home insurance is where the wallet is.
You protect the things you care deeply about: your significant other, your dog, and even your children! Our homes are no exception, this is where everything we love lives, so it would make sense to make sure that is it well protected so that your family is always well protected. Before you secure your homeowners’ insurance policy take replacement cost into consideration.
If, like Dorothy, your home is completely destroyed and assuming you weren’t just dreaming, how much is it going to cost to rebuild brick-by-brick? It’s of the utmost importance that the dwelling coverage matches that price. If not, you could end up having to reach deep into your pockets.
However, replacement cost is not the same as market value. Always let your agent know about any upgrades you do to your home.
When you buy your home, it may have been fairly easy to insure because it may have been a rather simple home with nothing too expensive to replace. However, after making modifications to it (like: replacing the fridge, new flooring, tiles, roofing, etc.) will make the value higher. If your insurance company does not know of these costs, they’ll only be able to cover you for the old appliances you had before—which may not be what you want when you’ve been paying them for protection.
Bottom line: make sure your insurance company knows about any modification you make to your home.Talk to Fox Insurance, your local independent insurance agency to determine your need for homeowners insurance and the best fitting policy for you! Contact Fox Insurance Agency for a quality and reliable home insurance and auto insurance policy in Beaverton, OR and beyond!