No one read the subject of this article and thought, “This is a really interesting, must-read article”. Perhaps the constant media barrage promoting savings has made us deaf to insurance. Life, health, dental, property, disability, and automobile are the major categories but beyond looking for savings, how often are you reviewing your coverage to ensure that you have the right type of coverage? Lately we have encountered multiple situations with clients discovering that their current insurance is not capable of providing the level of protection they believed it would.
Our insurance partner, Mike Oelz with Allen Tate Insurance, was recently discussing the process of understanding the costs to rebuild your home and said that, “One thing that is very common when I am working with buyers is that they believe the home should be insured for the exact amount that they are paying for the home. You cannot rely on the market value, your current tax assessment, or an appraisal that was completed on your home before the closing.” Updates that you perform on your home, whether it is a hardwood flooring installation or a kitchen remodel can add value to your home and must be considered.
This protection can extend to valuables, as well. Adding specific itemized coverage for anything of value such as jewelry, musical instruments, collectibles or that fancy holiday present you just bought is an easy and affordable way to ensure you are protected from devastation.
We recommend going through an annual insurance assessment with a professional to ensure that should something terrible happen, you can rest assured you will be made whole. Mike Oelz offers a complimentary insurance review where he discusses your current coverage, your potential coverage needs, and works to ensure that what you value most will be protected. He is available at 704.909.2355 or Mike.Oelz@AllenTate.com.