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Check if your home value has increased and if you are covered for that increase

Mosaic Insurance is your trusted insurance professional in Prescott.It is an exciting time when the market is good and home values are increasing. This is the climate we are living in here in Prescott. Don’t forget to make sure that you are adequately covered in this market. Mosaic Insurance reminds you to check if your home value has increased in Prescott and to make sure you don’t go uncovered.

Underinsuring your home can equate to significant losses. Failing to have enough insurance to cover the cost of rebuilding your home can be devastating to a homeowner. Most homeowners will cover only what the mortgage company requires, but that could be way off when living in an up market like we are right now.

So, how do you know what the right amount should be? The best way to find out is to calculate how much it would cost to rebuild your home. This includes labor and materials, and whatever else needs to be included. Getting that information can be quite easy to obtain with little to no cost. Asking a builder what the average price per square footage in your area would be the easiest way to find out.

Once you have that number, compare it to your coverage. Also, don’t forget the add-ons that you would like to see. If the number is different, now may be the right time to shop some insurance coverage.

There are different policies that range in price, but we want to make sure your coverage will be there if it’s ever needed. If you have not reviewed your Prescott home insurance coverage recently to make sure you have enough to match your home value, contact Mosaic Insurance at 928-458-7374 to speak to one of our insurance professionals.

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