Many people have seen their home’s market value increase recently. This is good news as home values have declined from a high in 2009 according to Trulia.
Homeowners need to be aware of their home’s replacement cost, as this value is what will determine any claim settlement. Replacement cost is the actual cost to replace any personal property or structure to its pre-loss condition. Replacement cost can change from year to year, regardless of real estate trends.
How To Determine Your Replacement Cost
The most important thing you can do to determine the replacement values of your personal property is to create a home inventory.
Having an accurate replacement cost is critical in having the right amount of insurance.
Robert Bell Insurance Brokers offers the personal insurance products you need. Our professional agents will consult with you on the coverage and premiums that meet your specific needs. Feel free toget in touch or get a quote today.
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