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Does Your Home Have Adequate Coverage?

inspolicyWith only a few days remaining until 2018, it’s worth taking the time to make sure that you have an insurance policy that properly accommodates your needs and provides enough coverage for you and your family. As storm seasons become increasingly active, having sufficient is essential.

According to a CBS News article, over fifty percent of homeowners do not have adequate insurance. As property values change, it’s imperative to know what the current value of your home is so you can use it to determine how much insurance you need. It’s worth remembering that having an insurance policy based upon the cost of your mortgage may not be sufficient to cover rebuilding costs should a disaster cause major damage to your home.

If you have existing insurance but haven’t taken a look at it, your home may have depreciated, meaning you’ll receive only a percentage of the costs necessary to repair or replace your property. Your value may also be affected by factors such as making extensive renovations or adding features like a swimming pool. You may also want to take into account any new major personal belongings you’ve purchased in 2017.

This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you.

This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.