Renewing your policy soon?
Thanks to the ever changing economy, our insurance policies are transforming as well.
Here are three things to make sure are included in your home policy in 2023!
A lot of people who have been with the same insurance company for a few years have about a $1,000 deductible.
We're starting to see with renewal of insurance policies deductibles being some where between 1% and 5% of what the insurance company values your home.
If possible, we recommend you asking your agent to stick to the $1,000 deductible.
Uniform Appearance Endorsement
If hail hits your house, this endorsement is great to have!
It ensures that even if one or two shingles are damaged, the whole roof will be replaced.
This ends the possibility of a patchy looking roof. The same goes with siding!
ACV vs. RCV Policies
Make sure you have a Replacement Cost Value Policy, not an Actual Cost Value Policy.
A lot of times, if your roof is over 15 years old, insurance policies will turn your policy into a RCV. You don't want this to happen, otherwise you may be responsible for almost half of the cost of the roof if damaged in a hail or wind storm!
Double check with your insurance agent when it comes to all of this advice! The most important thing is to make sure you read through your policy thoroughly!
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