trainman1385
Well-known member
When was the last time you looked at the amount of coverage on your home or shop? Do you know how the limits were set? If you haven't reviewed your coverage with your agent, and or don't know how the amount of coverage was determined you should do so before you have a loss. I am an insuraance agent and just met with a man who had no idea, he has worked for nearly 40 years to be where he is and he was woefully underinsured. Based on the amount of coverage he had he only had $40 a sq foot to rebuild his brick home. When in reality he should have around $90-95 a square foot to reconstruct his home, Also the company he is with right now changed his deductible to a percentage deductible from a fixed ded. He had a $500 previoulsy and now has 5% of the insured amount and this was done at renewal as this major insured no longer offers a fixed deductible. The worst time to figure out if you are coverered properly is at the time of a loss.