Is Your Homeowners Insurance Enough to Recover from a Disaster?
A homeowners insurance policy is an essential for every homeowner in case of a disaster. However, in cases of major and total losses, the majority of insurance policies fall short in getting your home back to its pre-disaster condition. insurancepublicadjustersofgeorgia.com outlines below how homeowners insurance alone may not be enough to fully restore your home after a major disaster. Homeowners Insurance and Underinsured Homes While homeowners insurance policies protect your home and are intended to help you restore it to pre-disaster conditions, many factors cause damages and restoration to exceed the dollar amounts established in your policy. Some of those factors include: Underinsured Property – Over time, property values fluctuate, as do the prices of materials and construction labor, causing your property to be underinsured if your coverage is not adjusted to compensate. Relying on coverage for a home’s estimated value often creates a disaster after a disaster. If your h