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Homeowner Insurance Renewal Case Study

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Homeowner Insurance Renewal Case Study
We are pleased to provide your Homeowner insurance renewal policy effective 1/31/17. Please review the policy and advise us if any corrections or changes are required. The deductible for this policy is $10,000, with a separate deductible of 3% of the insured value for Named Storms.

Your home is currently insured for $800,000. The inspection, completed in January, estimates the replacement cost to be $1,130,334. The annual premium to increase the dwelling to $1,130,334 and the contents to $150,000 is $8,905.06. We recommend increasing the dwelling limit to the full replacement cost so you will not incur a penalty for being underinsured in a claim situation. Additionally, the inspection reveals a dock on the property valued at $16,300.
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