Home Solutions

Without adequate homeowner insurance, you may not be able to cover costs if you should experience a home catastrophe. It’s a good idea to review your policy every year and to take account for inflation that would increase replacement costs. Your policy should also include extended-replacement coverage, which insures the difference if the price to rebuild exceeds your dwelling limit.

Check, too, for building code coverage, which helps with any discrepancy between the limits of coverage and the actual cost to rebuild.

Check for loss of use coverage for at least 24 months of housing and related expenses while rebuilding takes place.

Overlay your homeowners policy with an umbrella policy providing at least $1 million of liability protection beyond standard coverage.

At your annual policy review, photograph expensive new acquisitions and keep a running list of all household items. Keep your pictures and household list in a safe deposit box, or off-site in another safe location. With the trauma of fire or natural disaster, it will be a comfort to know your insurance will handle the practical matters of rebuilding and recovery.