Keeping Your Homeowner's Insurance Up to Date
Keeping Your Homeowner's Insurance Up to Date
August 2004 (Newstream) -- Record low interest rates and endless financing options have sent home values through the roof...up 8.5 percent from first quarter last year. If you're not buying...chances are you're making home improvements. One upgrade you may be forgetting is the one that helps protect you financially should your house be damaged or destroyed, homeowner's insurance.
The Census Bureau reports construction costs are rising on average 3.5 percent annually. Depending on the cost to rebuild in your area, the cost to rebuild your home could be significantly more than the price of your home when you bought it.
Experts say to help keep your home and its contents covered conduct an annual review of your homeowner's policy, documenting all home improvements. Although your premiums could rise, it might also be a good idea to increase your coverage as you invest more on home improvements. If you do, protective devices such as smoke alarms, fire extinguishers, burglar alarms and fire-proof construction materials may help lower your premium.
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Produced for Allstate
Contact:
Scott Michaeloff, 212-980-9090
August 2004 (Newstream) -- Record low interest rates and endless financing options have sent home values through the roof...up 8.5 percent from first quarter last year. If you're not buying...chances are you're making home improvements. One upgrade you may be forgetting is the one that helps protect you financially should your house be damaged or destroyed, homeowner's insurance.
The Census Bureau reports construction costs are rising on average 3.5 percent annually. Depending on the cost to rebuild in your area, the cost to rebuild your home could be significantly more than the price of your home when you bought it.
Experts say to help keep your home and its contents covered conduct an annual review of your homeowner's policy, documenting all home improvements. Although your premiums could rise, it might also be a good idea to increase your coverage as you invest more on home improvements. If you do, protective devices such as smoke alarms, fire extinguishers, burglar alarms and fire-proof construction materials may help lower your premium.
---------------
Produced for Allstate
Contact:
Scott Michaeloff, 212-980-9090
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