Your home is your biggest asset. You need to do everything it takes to keep it safe. Keeping this in mind, you may wonder exactly what your options are for doing this. It is a good idea to review your home insurance policy on a regular basis, at least one time a year. When you do, consider how much coverage you have. And, then, look at the details. Do you have enough replacement insurance in Decatur, GA? This is very different than the market value of your home.
What Is Replacement Coverage?
When you consider your policy terms, you need to look at the dollar amount. The cost to buy your home is much less than the cost to rebuild the home. Here is why. It costs more to rebuild simply because of the labor involved. There are also risk factors such as increasing construction costs and limited access to workers. This can drive costs higher. Because of this, you need to be sure your insurance in Decatur, GA matches what it costs to rebuild your home if it was lost.
You may wonder if this is necessary – after all, why would you lose a home? You may lose it during a fire. A lightning strike may be all it takes. You could lose it to another type of weather event. These situations put your property at risk. The only way to safeguard your investment is to have the proper insurance in Decatur, GA. The right policy covers you for all of your risks – including to replace the home, as well as all of your belongings with it. Talk to your agent to find out if you have enough coverage or if you could benefit from a bit more coverage for the home’s rebuilding.
