Over this past year many of my clients have undertaken remodeling or upgrades to their homes. Some are do it yourselfers and others have hired contractors to do the work. Either way, there may be some changes you will want to look at making on your homeowner’s policy.
If you were freshening up your place with paint, perhaps new carpeting or other flooring, roof, etc, unless your policy pays for any damages on an Actual Cash Value (ACV) basis, you are ok with your current coverage. If you do have an ACV policy, you should notify your carrier that you have replaced these items and of course keep the receipts. If your policy has Replacement Cost coverage you are fine, although I would still save copies of the receipts.
If you did upgrades to your home such as a new kitchen or bath with upgraded cabinets and counters, you should talk with your agent to make certain you have your home’s Replacement Cost estimated correctly to cover the value of rebuilding in the event of a catastrophic loss.
For more information, call me at (805)985-5488
If you were freshening up your place with paint, perhaps new carpeting or other flooring, roof, etc, unless your policy pays for any damages on an Actual Cash Value (ACV) basis, you are ok with your current coverage. If you do have an ACV policy, you should notify your carrier that you have replaced these items and of course keep the receipts. If your policy has Replacement Cost coverage you are fine, although I would still save copies of the receipts.
If you did upgrades to your home such as a new kitchen or bath with upgraded cabinets and counters, you should talk with your agent to make certain you have your home’s Replacement Cost estimated correctly to cover the value of rebuilding in the event of a catastrophic loss.
For more information, call me at (805)985-5488
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