Fifty years ago, Rosemary
Clooney sang the signature version of “This Old House,” declaring her readiness
at long last to walk away from the homeplace. “Ain’t got time to fix the
shingles, ain’t got time to fix the floor, ain’t got time to oil the hinges,
nor to mend the window pane,” she sang, summarizing the feelings of many a
homeowner in the throes of upkeep.
HOME INSURANCE VALUES MATTER
Yet keeping up the property
is what homeowners do for aesthetic and practical reasons. They like the beauty
and comfort and convenience that a well-maintained home gives them, year in,
year out. They also like the appreciating value that a home in good repair
develops, eventually rewarding its owner when it is placed on the market.
Failure to maintain a home will have a homeowner singing the blues when he tries
to sell it.
Home insurance is a vital
component in the home maintenance process. It gives homeowners incentive to
replace structural elements of the home as needed so that the soundness of the
house is never in question, and to do the preventive maintenance—replacing
shingles, repainting trim—that keeps underlying materials in sound condition.
The incentive is that the investments will be reflected in any settlement that
comes if the house is subsequently damaged or destroyed.
Homeowners need to determine
just how much home insurance is needed to ensure they are covered against loss
but are not over-insured. The latter is possible if the real value of a home
improvement is less than what an enamored homeowner believes it to be. Thus, it
makes sense to determine in advance of an improvement project just how much
value the improvements add to a home and to proceed accordingly.
The contents of a home also
should be realistically appraised. Sometimes homeowners fail to realize the
bottom line value of all the furniture, appliances, personal items, artwork and
other assets. It all adds up when it comes time to replace it. On the other
hand, too much sentimental value can be attached to personal belongings,
skewing the assessed value. Having an insurance appraiser help establish value
is a wise move.
The other component in
determining a proper level of home insurance is the estimated cost of replacing
the structure in the aftermath of a fire or flood or some other unexpected
devastation. If a home has any age on it at all, a replacement structure will
cost more than the original.
PREMIER HOMEOWNERS INSURANCE
Maintaining a home and being
fully apprised of its value and the value of its contents is a critical
responsibility of every homeowner. Having the proper homeowners insurance coverage to cover the value of your home is highly important in today's marketplace. Contact Premier homeowners insurance today at 800-554-9142 for a free policy review.