Are There Any Optional Coverages To Consider For Homeowners/Property Insurance?
Yes, there are several options from which you can choose. Choices should be tailored to your particular living situation: Guaranteed Replacement Cost Coverage Guaranteed replacement cost coverage is the most complete coverage for your home. To obtain this type of coverage, you typically must meet specific underwriting rules and conditions of the company. This may include increasing the amount of your insurance on a monthly, quarterly or yearly basis to keep up with the inflation rate. Check with your insurance agent to determine if an additional premium is required and if there are exclusions or conditions that apply. Inflation Guard Endorsement If the replacement cost of your home is increasing with inflation, your policy limits must be periodically increased to maintain your coverage at 80% or higher. Even though the amount of homeowners insurance you carry is at least 80% of your home replacement cost, this amount of coverage may not be enough in the future. To aid you in keeping co
