Do You Have Enough Real Estate Insurance?
By Liz Freeman
(RE/MAX Preferred Realty)
As we watch with horror the impact natural disasters have on those affected, it is only natural that we ask ourselves,” Would I be able to sustain such losses? Would my insurance policy cover the costs of rebuilding my home? The National Association of Insurance Commissioners (NAIC)) recommends that you use your annual renewal notice or any improvements to your home as a reminder to touch base with your agent or insurer to recheck how much insurance you really need. Do you have sufficient coverage for rebuilding and replacement? Amy Bach, executive director of United Policyholders, a consumer advocacy group, urges homeowners not to blindly trust that their home insurer has all the bases covered. With fluctuations in the market, coverage equal to the current replacement cost (excluding...