The recent hurricanes that hit Texas and Florida remind those in Connecticut, who live near the coast, of the importance of having adequate home insurance protection. Lenders do not always require full replacement coverage because they are only concerned about getting the loan repaid. Homeowners, on the other hand, benefit greatly by making sure they have enough coverage to be able to rebuild their home if it is damaged or destroyed.
It can be a real problem if your home is underinsured. Recent news reports note that the Federal Emergency Management Agency (FEMA) is running completely out of money, so the government may not be able to help if your home gets damaged. Climate change is certainly causing storms to become more severe and the recent hurricanes broke all-time records.
The agents at FIDA Insurance Group serving Monroe, CT, and the surrounding areas are able to help you if you are concerned about your existing home insurance coverage or if you need brand new coverage.
Things to consider are:
- Replacement Value – The goal is to make sure the replacement value accurately represents what it would cost to rebuild your home if it was completely destroyed. Be sure to add in the cost of any recent upgrades, renovations, or additions made to the home.
- Disaster Coverage – While wind damage may be covered by a home insurance policy, water damage from flooding usually needs separate flood insurance coverage. Check with your agent to be sure.
- Personal Property – Having a complete list of the values of all personal property, especially that takes note of any expensive items kept in the home, garage, or on the property, is a very useful tool to help make calculations of the coverage amounts needed.
Contact an agent at FIDA Insurance Group serving Monroe, CT, and the surrounding areas for help with home insurance in order to make sure you have adequate protection.