‘Skagit flood, 1975’

Today’s natural disasters may cause a concern as to what is covered on your home insurance policy.

Your home insurance coverage should not be based on your home’s appraised value because that includes land. The insurance company will use the recent square foot replacement costs in your area which can be available from your local home builders association.  If your home is prone to natural disasters, make sure you have extended dwelling for your coverage. This exceeds the limit of liability for coverage A (dwelling) of 25% or 50%.

Not all perils are covered such as flood,mold, and sewer back up or earthquake.

If you are in a high risk area where it floods then it’s best to purchase a flood policy. Other coverage endorsements can be added to the main home policy like sewer or earthquake.

Make sure you recheck your deductible since many companies will now have a 1% or 2% wind/hail deductible. This can be expensive especially for a $300,000 home that has a 1% deductible of coverage A, which in essence, is $3000.  Getting your deductible bumped up might save your money

Scan and Score all information digitally on a flash drive and keep it in a safe place.

Call me to discuss your policy and get an opinion!