Lifetime Investments

The lifetime investments we make are not all stocks and bonds!  They include other tangible and oft-times intangible things that bring us joy and pleasure in our life - things which we must make sure are adequately protected!

• Insurance for our homes and other valuable tangibles represent the protection for the continued lifestyle we want to live. 
  
• Nutrition adds to the manner in which we experience well being and a healthy life.
• Our identity, which is increasingly more at risk through identity theft, is more essential than most of us realize.
• We invest many resources that are at risk through disasters which occur each and every day - are we prepared?  Are our Vital Documents easily assessible or in a protected place? 
  
• The relationships we build in our lives, friends, family, peers and other professionals have great bearing on the degree to which we live the "best life possible."

Each and every one of these items are to be considered one of the vital essentials to living a richly fulfilled life.

Lifetime Investment in Home Replacement

What does Home Replacement cost really mean?  Over the past several years, the sale prices of homes have changed substantially.  In 2006 and 2007 the price of a home skyrocketed to the point that many homes were sold as part of a bidding processes - sometimes as many as 50 plus buyers per home. However, by mid-2008, home prices began to plummet, leaving homeowners confused about the actual value of their homes and harboring questions about their insurance coverage.

Every insurance company has a Home Replacement Cost Estimator built into their rating system.   Your home is broken down into separate components (framing, roofing, etc.) and valued at the cost to reconstruct each component, based on current material costs.  Replacement Cost, then, simply reflects the cost to rebuild your home in the event of a total loss.   With continuing economic shifts and natural disasters, that replacement cost data is updated regularly.

Older homes, generally built before 1950 can cost from 25% to 45% more to replace when compared to a newer home.  Older homes usually have solid wood doors throughout the home.  In addition to lathe and plaster walls and ceilings, old home architectural techniquest, custom millwork, antique carving and extensive hardwood floors contribute to increased replacement costs.

It is of Vital importance that you contact your insurance agent on an annual basis to review your dwelling coverage limit and discuss any changes or additions to your home.  If this is one of your lifetime investmetts, home replacement insurance is a vital essential.

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