KCAL Insurance Agency
Phone: (800) 681-8288 E-mail: info@kcal.net
You've got the wrong home insurance!
Homeowners in disaster-prone areas of the U.S. increasingly are dealing with nightmare home insurance scenarios. Many homeowners who thought they were fully insured are discovering that the replacement-cost policies they bought are dramatically insufficient to replace or rebuild their homes.
As a result, scores of underinsured homeowners face potential losses of tens or even hundreds of thousands of dollars. Many insurance valuations are erroneously based on real estate market values. Your home's market value can fluctuate wildly based on what a buyer is willing to pay. But replacement cost, which is the value used by insurance companies, is the cost to rebuild your home.The Property Casualty Insurers Association of America encourages homeowners to conduct annual reviews of their insurance needs, to notify their agent or insurers about remodeling work or additions.
Source:Insure.com