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Spangler Insurance Blog

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Is Your Real Estate Coverage Correct?

Since 2012 has  been a year punctuating with large fires and great amounts of damage being dealt to people’s home, it is appropriate to  take a look at your real estate coverage and make sure that it is appropriate for your residence.

Real estate coverage is not always automatically provided in such a way that it comprehensively takes care of everything. Rather, it is often meant to cover up to certain limits that do not take into account disasters or extraordinary circumstances.

Here are some things that you can do in order to sure everything is up to date and protecting what it needs to:

  1. Review Your Coverages. Find your Insurance Coverage Binder Agreement, and go over it to find your “Maximum Insurance Limits”. It will affect the following points of discussion.
  2. Determine Dwelling Coverage Needs. Make sure that your maximum coverage lines up with the square footage of your home and is a fair price. 200-400 dollars per square foot is an acceptable figure.
  3. Secure Liability Protection. Liability protects you from litigation leveraged due to events that happen on your property. Bump up the limits of the policy with an umbrella policy.
  4. Add on Coverage for Valuables.
  5. Update Condo or Townhome Coverage.

All of these factors should be considered before you settle for an insurance option. Be sure that your home and everything in it will be properly taken care of by your provider in order to cover you during hard times. There is more peace of mind when you are protected!