One mistake some homeowners make is failing to confirm that their home insurance policy covers all structures on their property.
An easy way to check this is to take a video inventory of everything on your property and share what you know about each structure with your agent.
This inventory should include all structures, whether permitted or not, such as sheds, barns, outbuildings, fire pits, outdoor kitchens, swimming pools, water features, water storage tanks, wells, greenhouses, sunrooms, carports, garages, detached patios, recreational rooms, and more.
The goal is simple: include everything on the property.
Work With Your Agent to Make This Easier
Share your inventory video with your agent at S & S Insurance Services Inc. in Oklahoma City, OK, so any necessary adjustments to your home insurance coverage can be made, including riders or additional policies that extend coverage for natural disasters, such as flood insurance.
Replacement Cost Coverage
It’s a wise strategy to carry replacement cost coverage, estimated based on current building material and labor costs.
Also consider what may happen during a widespread natural disaster, such as a tornado that damages many homes in your community at once. Rebuilding costs often rise under that kind of pressure, so ask your agent to factor this risk into your coverage estimates.
You may want to consult a qualified third-party appraiser for this. This type of appraisal isn’t about your home’s market value, but about estimating what it would cost to rebuild your home and all structures on the property to a similar condition as before a covered loss occurred.
Reach out to us at S & S Insurance Services Inc. in Oklahoma City, OK, for all your home insurance needs.
