Home Insurance for the New Year

The Minneapolis Star Tribune recently ran two great articles on home owners insurance:

Underinsured? – is a great reminder to homeowners to update their insurance as you update your home. As they point out, “According to a survey by Marshall & Swift/Boeckh, a firm that supplies building-cost data to insurers, 58 percent of houses are under-valued for insurance purposes. Of those, the average homeowner has enough insurance to rebuild only about 80 percent of his or her house, according to the survey.”

Three key questions for an insurer during a checkup – The questions are:

  1. Do I have enough insurance to be able to rebuild my home as it is and replace my personal possessions?
  2. How much am I covered for liability for damage or bodily injury to others?
  3. Am I adequately covered for the cost of additional living expenses if my home is damaged and I have to live somewhere else during repairs?

For more information visit the Star Tribune Online.

Category: Home Owner Tips

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