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Phone: (239) 289-7294

Email: Contact Us

Address: 16201 South Pebble Lane
Fort Myers, FL 33912

Do You Have Enough Homeowners Insurance?

Homes are often our most valuable assets. And to protect them, we spend quite a bit of money each year on homeowners insurance.

But do you have enough coverage?

You’d be surprised how many homeowners actually don’t have enough insurance coverage for their homes. By coverage, we’re mainly talking about two things:

  • The replacement cost of your home
  • The value of your possessions

The replacement cost covers how much it’d cost to completely replace the home as is. It doesn’t take into account the market value, which may be a surprise to some. But if your home is old enough that replacing it as is costs more than it did, relatively speaking, when it was first built, you should be aware of that and have enough coverage.

Insurance also covers the value of your possessions. Most homeowners undervalue their possessions when it comes to coverage, but you should actually do the opposite. Also, when they buy new things, they often don’t update their coverage to compensate and cover the new value – which means you could lose out if your possessions are destroyed.

If you’ve remodeled lately, you might not have enough coverage to cover the replacement cost. In other words, your replacement cost likely went up. Every time you modify your home, you should check your homeowners insurance policy and see if there is enough reason to increase the coverage amount.

You can take out something called guaranteed coverage that provides coverage for an additional 25% beyond the estimated replacement cost. This can also help cover your possessions if you lose them.

As the owner of a home watch service in Fort Myers, I can’t tell you how much I encourage homeowners to safeguard their homes and pocketbooks by getting adequate homeowners coverage. Evaluate to see if you have enough insurance or need more.

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