Would You Be Ready if You Had to Rebuild?

July 18, 2012

Update your homeowners insurance to be in best position to recover from disasterIf your home was destroyed in tragedy, from a fire to a freak earthquake, would you be ready to rebuild? While no one likes to think about the chances of disaster, the Equifax Finance Blog has some real reasons to consider it and a few things you can do to protect yourself in the new article, “

Renovating Your Home? Renovate Your Insurance Policy.”

It’s important to remember to update your

homeowners insurance policy when you make changes to your home for renovations. While this may cause your policy to become slightly more expensive as it covers more valuable upgrades to your home, it will be a definite benefit in the face of tragedy. After a disaster, you will be faced with the costs of construction, which can be more expensive than the market value of your home. This makes any shortfall in the insured value of your home will be even more keenly felt. With depressed home values and construction material costs up on items like shingles and copper piping, you need all the help you can get with picking up the pieces.

Don’t think that the renovations to be reported need to be limited to huge projects, either. Things like new countertops are just as important as additions like decks, new windows or whole home expansions when it comes to making sure you get your money for recovering from a disaster.

For more

personal finance advice on topics like real estate, insurance, retirement, credit and more, see the Equifax Finance Blog’s great articles.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

Leave a Comment