Spring remodel

Remodels improve the quality of your life and increase the value of your home, but don’t forget to protect the investment.

Do you have plans for home improvements this spring, like a new deck or a kitchen update? It’s an investment that can provide years of enjoyment or added comfort for the family. However, don’t forget to protect your additional investment.

Update your house, update your insurance

Always update your home policy when you’ve made home improvements so that you don’t find yourself without enough coverage. As your house changes, your coverage needs change as well.

Three reasons homeowners find themselves without enough coverage when they need it

According to Marshall & Swift/Boeckh, two out of every three homes are underinsured by as much as 27%. There are three primary reasons why.

  1. Not reviewing coverage regularly. Many homeowners purchase their insurance and then never look at it again. Even if you haven’t made any changes to your home, costs associated with rebuilding may have changed. Take a look at your policy at least every other year.
  2. Confusing market or assessed value with the cost to rebuild. Your coverage should not be based on the real estate value or assessed value of your home but on the actual replacement cost of the physical structure.
  3. Trying to save money on premium by underinsuring. How good will you feel about saving $100 or $200 per year if you aren’t adequately covered for a loss that ends up costing you far more? You need a clear understanding of your policy so that you’re not taking on more financial risk than you think.

Let us help

If you haven’t looked at your policy in a while or if you’re making a major change to your home, have a Member Benefits Personal Insurance Consultant do a free review of your current home policy. After all, it’s one of the largest investments of your life. We’ll answer your questions so you can make the best coverage decisions for your situation.

Free insurance consultation: 1-800-279-4010 or weabenefits.com/consults.

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