While April showers bring May flowers, spring storms can also cause a flurry of damage. Homeowners should take the time to review their insurance policies annually to ensure they are not underinsured and vulnerable to costly liabilities.
According to some experts, 60% of homes in the United States are underinsured by 15% to 22%. Construction costs are estimated to have increased by up to 33% in recent years. The difference between current construction costs and outdated coverage could create a financial burden for homeowners who have to pay out of pocket to restore their property.
When evaluating your coverage, it is important to consult with your agent about what is covered and how much a home rebuild would cost if a natural disaster strikes. If you need help with a policy review or to get a homeowners insurance quote the specialists at Bukaty Companies Property & Casualty can guide you through the process.
