1905 Hamilton Ave Ste 100, San Jose, CA 95125
We hear it on the news and read it in the paper: Home values are dropping. According to Zillow®, home values nationally are now down 21 percent from their peak in the second quarter of 2006.
What’s a homeowner to do?
Although it seems lower home values might go hand-in-hand with less
Homeowners coverage, that’s not true. Why? Well, guess what’s not going
down? The cost of rebuilding and repairing houses.
Many of us are looking to reduce expenses, but before you cut back on your Homeowners coverage, consider why you have it.
Insurance pays for your covered loss
If your home is damaged or destroyed by certain unexpected, accidental
events, you’ll probably want to repair or rebuild your home. Most people
can’t afford that without financial help. Your Homeowners insurance
policy is there to help by paying you for covered damage so you have the
money for repairs.
Of critical importance is whether your policy provides coverage based on replacement cost or actual cash value. Although some states and policy terms vary, in general:
is the amount it would take to repair or replace your home with
equivalent construction and with materials of like kind and quality —
without deducting for depreciation (the difference between what your
property was worth “new” versus “used”).
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This listing is intended for informational purposes only and does not constitute
an offer to sell or an offer to buy any product. This site is published in the United
States for U.S. residents only.
This information and the products and services described here are intended only
for individuals residing in a state where the agent is properly licensed
Terry Shangreaux | Insurance Agent | State License #:0572459 | 1905 Hamilton Ave Ste 100 | San Jose,CA 95125
*Life insurance issued by Farmers New World Life Insurance Company, 3003 77th Ave. SE, Mercer Island WA 98040. Products and features may not be available in all states and may vary by state.
**Securities offered through Farmers Financial Solutions, LLC, 30801 Agoura Rd.
Bldg. 1 Agoura Hills, CA 91301.
FINRA & SIPC.
Property and casualty insurance is offered through Farmers Insurance Exchange, Truck Insurance Exchange, Fire Insurance Exchange
and their subsidiaries and affiliates. A complete listing of the insurers and the states where they are licensed can be found