Phew! That Typhoon Mangkhut woke many of us up from our years of complacency. Perhaps it time to review our Homeowner’s insurance policy. Like many of you, I first bought my homeowner’s insurance when I bought my home – and, promptly forgot about it. Yes, the policy is the same as I had 14 years ago – no changes have been made to increase or decrease my coverage. But, WAIT!
I bought a fixer-upper. I’ve spent several tens of thousands to improve it and to make it habitable. My home’s value has improved substantially from when I first bought it (and the homeowner’s insurance). I am most certainly capped out on my homeowner’s policy. I should increase my coverage.
What about your situation?