January 2, 2019
Your home may be worth as much or more than your retirement account. As a result, it makes sense to track your home insurance as carefully as you do your 401k. Here are a few tips to help make sure you have the right amount of home insurance, but remember you can always contact us with questions.
If you haven’t checked in recently, you might consider contacting us to schedule an annual review of your home’s value and contents.
We want you to be relieved, knowing you’ve made informed decisions about the amount of home insurance needed to help you recover in the event of a loss. Check out the tips provided below, to make sure you are prepared for the worst-case scenario.
With home improvement being a national pastime and construction costs rising, it’s a good idea to check your policy limits once a year with us.
Planning to remodel your home? Just finished adding a new deck, fence or garage in your front yard? It is time to review your limits with us.
Remember that the cost to buy and the cost to rebuild are different. Consequently, you can’t rely on your home’s market value to set your insurance limits. An appropriate amount of insurance coverage will permit you to rebuild your home in the event of a total loss. That replacement value depends on the physical characteristics of your home, as well as the price of labor and materials in your area. In most areas, these costs increase with time.
We can estimate the typical cost of rebuilding your home based on the average costs of materials and labor in Illinois. However, this number won’t reflect major upgrades made to your home or the cost of replacing your home’s unique features, unless you specifically inform us or a customer care professional about major upgrades.
If your home is truly unique or custom built, or if you’d simply like additional peace of mind, knowing that you’ve selected the right amount of insurance, consider asking an expert like Insurance Group USA. For a modest fee, you can hire a building contractor to give you a more precise estimate of the cost of rebuilding your home.
We recommend doing a thorough inventory of your home’s contents. Compare the value of your belongings to the “contents,” or personal property limit listed in your policy, and make sure these match up.
Using a video camera is the easiest way to do inventory of your home. That way, you can record and describe items as you walk through your house. A regular camera and a home inventory checklist work well, too. Share the completed list with us to review and make sure your belongings are fully covered. Store your video or photo inventory off-site, so you won’t lose it if your house is damaged.
May is National Bike Month. Here are some valuable tips to keep you and your ride protected. More »
Spring rains can put your home at risk of flooding. Here are some tips to keep your sump pump working and your basement dry. More »
With Earth Day fast approaching, it’s a good time to talk about preventative measures you can take to avoid impacting the environment when operating and working on your boat. More »
Trusted companies like
We can find discounts on homeowner insurance you may not find on your own. Give us a call, or get a homeowner insurance quote online today.
Your current insurance may not cover you fully in the event of a catastrophic loss. Learn more.
Information you need, when and where you need it most. More »