You have a home insurance policy with Replacement Cost coverage. Does that mean you have enough coverage to replace your home as it was? After the California wildfires, many homeowners are finding out that not all Replacement Cost definitions are the same. They do not have enough coverage to rebuild their home, some by several hundred thousand or more. But this issue is not only a California problem. The cost of rebuilding a home has risen significantly over the last five years and continues to increase. Catastrophic events like wildfires, floods, tornados and big hurricanes creates devastation in a localized …
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It’s Summer!! Is your beach house protected?
June 1st was the start of hurricane season and in a few days it will officially be summer. Summer is your favorite time of year as you get to enjoy and show off your beach house to your friends and clients. Have you done everything to make sure if the inevitable bad storm comes, you can rebuild? Flood insurance is part of owning a beach house. Unfortunately the Federal Flood Insurance Program provides limited coverage, especially for a secondary home. These policies provide up to $250,000 for the building and $100,000 for contents. The next caveat is since this …
