Home Values Dropped
Besides
the value of homes being artificially deflated by home foreclosures,
the value of your home has nothing to do with the cost to rebuild or
repair it. Has the cost of milk, meat or bread gone down? No! The cost
of wood, steel, copper, plastic and cement hasn’t either! The cost of
Workers’ Compensation insurance that the contractors have to pay is
predicted to increase about 27%.
When you think about home insurance, think about all that it took to put
your home together, then ask yourself, “If the worst happens, do I want
to pay a huge chunk of money out of my pocket to rebuild my home?” 60
percent of the home owners in the 2008 Southern California and Northern
California fires did!
60% of Homeowners are UNDERinsured. If you haven’t updated your coverage
lately ….you may be one of them!
Protect yourself. Have regular insurance reviews, ask questions and read
the fine print in your policy. You may be surprised. Many clients that
converted to my agency were surprised when I had them read the fine
print in their old policies!
Best Regards, Michael Carey