Many people buy a homeowners policy for their new home, and then forget about it. They don’t completely forget about it, of course. They make their annual insurance payments. But in their day-to-day lives, they have no reason to think about their homeowners coverage.
Should they?
Well, if it’s been a long time since you purchased your policy – the answer is YES! As construction costs go up, the amount of money that it will take to rebuild your home from the ground up also goes up. As an example, let’s take someone who bought a 2,000 square foot home 15 years ago. They may have insured their home for $100/sq. ft, or $200,000. These days it will cost a lot more than $200,000 to rebuild a 2,000 square foot home. If their house burns down now, the actual cost is more likely to be over $300,000. Our fictional family could be stuck with having to pay the extra $100,000 out of their pockets!
As someone who lives in the Scripps Ranch area of San Diego, a community that got ravaged by fire in 2003, and came perilously close again in 2008, and as an insurance agent, I understand the importance of making sure that your home is well protected. It is my policy to conduct periodic reviews of my customers’ coverages, as well as reshop my customers’ policies for better rates.
Request a homeowners quote today! http://www.toyeninsurance.com
* California only
