Homeowners Insurance Secrets You're Not Supposed To Know
Secret #1: The True Cost of Replacement
One of the most significant aspects of homeowners insurance is understanding the replacement cost of your home. Many policies only cover the market value, which can be significantly less than the actual cost to rebuild your home. Ensuring your policy covers full replacement costs can prevent financial shortfalls in the event of a disaster. It’s advisable to regularly evaluate your coverage and adjust it to reflect current construction costs in your area1.