Most homeowners throughout southern New Jersey and Philadelphia understand the importance of Homeowners Insurance Coverage. Without it you could be financially devastated if property damage occurs or even if someone injures themselves on your property. However, even if you covered, how do you know you’re covered enough?

It’s important that all homeowners review their coverage at least once a year. Your policy needs to meet your evolving needs. While actual cash value coverage may be appropriate for one stage of life, most insurers recommend replacement cost coverage, which is more comprehensive. To get the full advantage of your reimbursement, you’d need to buy enough insurance to cover the total cost to rebuild your home, excluding the value of the land.

In addition to understanding your policy type it’s important to keep up to date on home building prices in your neighborhood. This can be researched in a number of ways; talking to building contractors or real-estate agents for example. You should also consistently assess your personal property; including property like computers, recreational vehicles, and jewelry, all of which have only limited coverage in a standard homeowner’s insurance policy.

Many homeowners don’t realize that they not only often need additional coverages aside from a standard homeowners policy, but also that these additional coverages are even available. With the ongoing occurrence of hurricanes, floods, mudslides, etc., it’s essential that homeowners be aware.

If you are unsure if your policy has gaps in coverage, the best thing you can do is speak to a Connell Insurance agent today. We are your neighborhood insurance agency, serving throughout South New Jersey and the suburbs of Philadelphia. For more information about our homeowners policies as well as our other Personal Lines Coverages, please contact us today at (888) 590-0715.