Whether you live in a custom-built luxury home or a historic home expertly crafted with hard-to-find materials, you want to know that if your house is damaged your homeowners insurance policy will pay to have it rebuilt and restored to its original condition.
Today, the average home is underinsured by 22%, and many luxury homes are underinsured by 60% or more. Even the most successful families can be underinsured, and you may face a gap between your home’s insured value and its reconstruction cost, which means you may be overpaying to be underinsured with your current carrier.
Data sources:
(1) Nationwide: Underinsurance: Is your home covered for all it's worth
If you have a detached garage, a guest house, or other structures on your property, you may have significant coverage gaps with basic policies, which may leave you responsible for unexpected costs in the event of a loss. Plus, not all companies provide full replacement costs for your contents. Additional coverage may also be needed for certain collectibles. Last, if you're ever sued for liability, you want the peace-of-mind in knowing you have adequate coverage. We work with you to make sure your valuable articles coverage provides protection against loss or damage to your prized possessions.
