When the fire is out, the rain has stopped, and the damage is done, you’re not always in the clear. Do you understand what it will take to rebuild your home to current construction code? Your home has increased in value substantially these past few years, as has the cost to rebuild.
Where will you live and what will it cost? Will you be able to find a home to rent in the same area? On Cape Cod that is becoming difficult. How many months would it take to rebuild your home with architect, engineering, permitting and then the actual build? The road to rebuilding your home will be challenging, time consuming, and a major interruption to your lifestyle.
You understand the past few years have surfaced economic and supply chain challenges that have adversely impacted the cost of most thing today, especially in the construction field. Will your insurance adequately cover the out-of-pocket expenses you will incur to continue your lifestyle as you rebuild? Your insurance program may address many of these challenges or need minor tweaks to get it right. Obtaining the right coverage, will help restore what you have worked so hard to build.
A primary risk management objective is, ‘Don’t risk a lot for a little.’ Do a thorough review of your existing coverage with your agent, ask about ‘Guarantee rebuild coverage’, ‘Loss of Use’ and other available programs the insurer offers that will help make your life and the rebuild process go smoothly. If you would like to discuss this further with one of our insurance advisors, call/text us at 800-800-8990, email firstname.lastname@example.org or visit our website: www.riskadvice.com.