blog post image

Five Tips To Help Ensure You Have the NH Home Insurance Coverage You Need.

Changes you made in the past year to your home impact the value, so now is the time to review your NH home insurance limits and go into the New Year with your protective ducks in a row. 

With ever-fluctuating home values, are you confident your homeowners insurance policy limits are enough to cover the cost of rebuilding your home? The following tips will help you ensure you have the coverage you need—eliminating worry and additional hassles.

1. Review Life Changes That Could Impact Your Coverage Needs

Make sure that your home has sufficient coverage on an annual basis by reviewing changes with your agent. Contact us if…

  • You started your own business or retired.
  • You remodeled your home (more information below).
  • You moved a family member in or out of your home. 
  • You increased your home security (potential savings alert!). 
  • You purchased or sold an expensive asset.

All of these changes could impact the your NH home insurance needs. To avoid paying for coverage you no longer need, or not having enough coverage at the time of a claim, contact us to review potential adjustments that should be made to your policy.  

2. Do You Need To Protect Against Additional Risks?

A typical homeowners policy protects against fire, lightning, wind storm, and many additional perils; check your policy for specifics. However, most homeowners’ policies do not protect against damage caused by floods, hurricanes or earthquakes.

If you live in an area prone to specific natural disasters, it is a good idea to look into additional coverage available as a stand-alone policy.

3. Insure Home Improvements

When making a major change to your home, it is important to talk to us about insuring those changes. Be sure to let us know the specifics. If you remodeled a bathroom, it matters whether you installed a standard bathtub or a whirlpool tub because it all adds to the value of your home. You want that value accounted for in the event of a claim.

4. Take Construction Costs Into Account

Construction costs are on the rise, so your policy should reflect that. When reviewing your policy, consider the rising cost of materials, labor and supplies, and set your limits accordingly.

5. Understand Rebuilding Costs

As a general rule, rebuilding a home costs more than an identical home would cost as a new construction. That’s because rebuilding includes a number of additional factors—like demolition, debris removal, worksite access and updated building codes—that can drive up the price of a rebuild. Don’t assume that the new construction cost of your home provides enough coverage. Tip: Consult a contractor for an estimate on your home.

Don’t play the guessing game. Contact A.W. Frost Insurance in Franklin NH for assistance on determining the value of your home. We can work together to create a policy that will protect your investment. We are ready to help and are just a phone call away!