Home Value

An insurance company will cover the cost of your home’s replacement in the event of a complete loss caused by perils covered under your homeowners insurance policy. Most policies also cover detached structures such as garages and tool sheds.

Your insurance provider will determine the cost to replace your home. This is not the same as market value and often, the numbers are not the same. However, some companies offer guaranteed home value coverage. This means if the cost to rebuild your home is higher than the estimated cost, the insurance company will cover the difference.

A standard policy will not pay for damage caused by a flood, earthquake or routine wear and tear.

To make sure your home is insured for the proper value:

  • Provide your insurance agent with detailed information about the size and features of your home.
  • Review your homeowners policy once a year to make sure your coverage is keeping up with inflation.
  • Increase your coverage when you remodel or make significant changes to your home. Remodeling usually increases the value of a house. Any renovation that increases the property’s value is also likely to increase the insurance premium.

More Information

Do you need more information about home insurance coverage, guaranteed replacement cost, or construction costs that can arise from older homes? Our agents and customer service representatives are here to help with your home insurance company needs. Call us today at 888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week.

Additionally, we can help you find a homeowners insurance quote right on our website. Because we want to help you save money wherever possible, we offer our insurance quotes completely free of charge. By navigating our website, you can also inform yourself about many useful topics, such as things you should have a good idea about before you buy a home, what real estate factors could affect the building cost, or how certain coverage factors vary by state.

We also have a strong presence on social media. Give us a like or follow on our Twitter, Facebook, Instagram, or YouTube page. We’ll keep you up to date on helpful insurance coverage tips, local news and much more.

Lastly, we also have blogs that may help you with any questions you have. Our blogs cover many different topics. From how to know if you can receive compensation after an accident, to how you can protect your home and personal property from being damaged or destroyed if a tornado hits.

*Please review your own policy carefully for details on homeowner’s insurance. Homeowners insurance varies by insurance company and policy.