HOMEOWNER'S INSURANCE

What Homeowners Need to Know About Insurance

According to insurance industry sources, two-thirds of American homes are underinsured. Here are some tips to help you protect your home::

• As a consumer, you have to specifically ask for a "guaranteed replacement policy" to cover the cost of rebuilding a destroyed home.
• If real estate prices in your area have risen since you purchased your home, your insurance coverage may be based on an outdated sale price.
• After you have built an addition or made a significant home improvement such as adding a deck or new kitchen, check to see if your coverage reflects the added value of your home.
• Some improvements may help you qualify for a discount such as fire alarms, sprinkler systems, burglar alarms and improved heating, plumbing, or electrical systems.
• Video taping or photographing your belongings is very helpful if you have a loss. Save receipts to document losses. Store this information in a safe-deposit box, at work, or a relative's home.
  Complete this form or contact: Dawn Longi, 201-661-2488, dlongi@capcoverage.com