Do I Have Enough Homeowners Insurance To Rebuild My Home
Many people who have purchased their homes within the last few years likely do not have enough coverage. Our agents have helped homeowners who have had inadequate coverage with previous home insurance policies. In these cases the previous insurance agents have rated their dwelling coverage based upon the purchase price of the home. Unfortunately, the value of a home and the purchase price for the home has absolutely nothing to do with the cost of rebuild in the event of a total loss. In the current home market you can purchase a home for significantly less than it would cost to build that same home from the ground up. The amount of coverage that you should have for dwelling coverage on your homeowner insurance policy should be rated at the current rebuild cost for your specific area. The rebuild cost varies across California based upon the cost of supplies and the availability of contractors in the area. Many insurance companies curb this problem with rebuild cost calculators. The agent working on the home insurance in California policy will put in the specific information about the home and the calculator will advise the agent on what the proper amount of dwelling coverage should be. At the same time agents should use their personal knowledge of the area to determine that the proposed amount is high enough. Request your quote online today or call 530.421.8111 License 0G13612.
