We've all seen the news accounts of tornadoes devastating homes in even large cities. Did you realize that when a total loss occurs, your homeowners coverage is designed to reconstruct your home under NORMAL conditions. However, after a catastrophe, there is increased demand for building materials and labor and that can cause costs to rise significantly.
You can elect to get extended dwelling coverage at either 25% or 50% of your dwelling limit. For example, if your home was insured for $100,000. Without extended dwelling coverage, you could incur significant out-of-pocket expenses or have to choose to reduce your rebuilding plans. If you elected the 25% limit, coverage would increase to $125,000.
To see if you are properly insured for catastrophe, please call Shelly @ Ben Goodwyn Agency 972.618.0100 shelly@bengoodwynagency.com
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