Money Tips Network

Homeowners Insurance Replacement Costs

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You have your homeowner’s insurance policy and you’ve made all the payments on time, but like a lot of policyholders, you have never made an actual claim. If you had to file tomorrow, are you certain you’d have enough coverage to pay to rebuild your home from scratch? You might be unpleasantly surprised.

Just like gasoline prices from 10 years ago are much different than they are today, today’s repair costs are likely much higher than they were when you signed the dotted line. Sadly, many thousands of New York/New Jersey residents in the midst of a post-Sandy winter are discovering that stagnant home values in many regions of the country have masked the true costs of rebuilding destroyed homes.