- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (1)
- Eric Kossian, "InsurePro"
- Contributions:29
Most home insurance policies limit the amount of replacement cost, so if you don't update your insurance after a remodel you very well might not have enough insurance on your home. The cost of adding the additonal insurance needed is usually minimal.
This is also a good time to ask if the policy provides "full replacement cost" on the home or just extended replacment cost, which limits the replacement to the amount showing on the policy plus 20-25% depending on the policy. Certainly, anyone with an above average home should have" full replacement cost", which does not limit replacement cost to the amount of insurance rated for.
This is also a good time to ask if the policy provides "full replacement cost" on the home or just extended replacment cost, which limits the replacement to the amount showing on the policy plus 20-25% depending on the policy. Certainly, anyone with an above average home should have" full replacement cost", which does not limit replacement cost to the amount of insurance rated for.
Why is it important to update your home insurance after a remodel?
-
- 0.0/5.0
Contributions:29Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.