When you buy home insurance, the amount of coverage you purchase should be the amount that it would cost to rebuild the home. Insurers have generally used home inspections to help determine home value. But since the pandemic hit, travel restrictions prevented on-site home visits. The post Pandemic put spotlight on virtual home inspections appeared first on The Cincinnati Insurance Companies blog.
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When you buy home insurance, the amount of coverage you purchase should be the amount that it would cost to rebuild the home. Insurers have generally used home inspections to help determine home value. But since the pandemic hit, travel restrictions prevented on-site home visits. The post Pandemic put spotlight on virtual home inspections appeared first on The Cincinnati Insurance Companies blog.
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Growing up, I loved reading the tale of “The Three Little Pigs,” never thinking much of how the story could ever relate to my adult life. As an occupational hazard, I often think now of the second little pig: “How is he going to rebuild his house of sticks that the wolf blew down?” The post The Three Little Pigs and the price of a stick house appeared first on The Cincinnati Insurance Companies blog.
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Does your homeowner policy have sufficient coverage limits to help you recover fully after a loss and avoid incurring serious financial burdens? It’s a question many people don’t ask, and if they have a claim, it can leave them with unexpected expenses. The post Are you covered? Don’t be caught underinsured appeared first on The Cincinnati Insurance Companies blog.
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Reconstruction cost – or replacement cost – is the cost of hiring a contractor to replace your home as it is, using materials and design of the same or similar quality. This amount is not the same as market value, which is the value of comparable homes that have sold in your area. Your home’s current reconstruction cost could be very different from its market value. The post Personal insurance: Trends in construction costs appeared first on The Cincinnati Insurance Companies blog.
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Remodeling and renovation projects can add significantly to the value of your home. Whether you do it yourself or hire a contractor, remember to update your homeowner insurance as you increase your home’s value. The post Remodeling, renovation can affect home’s value appeared first on The Cincinnati Insurance Companies blog.
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