Home insurance is an essential part of many Americans’ finances. It protects families from the financial consequences of a covered loss, like replacing a stolen television or repairing a roof damaged by a hurricane.

But for many residents of Overland Park, KS, their home insurance coverage is inadequate. Highpointe Insurance Services LLC knows that many people don’t realize that even a small shortfall in their home insurance can lead to significant financial trouble.

The Dangers Of An Underinsured Home

Imagine you and your family have been in your home for many years and never had a claim. Then one day, a fire breaks out in your home. Then you discover your insurance doesn’t cover the full value of your home. It’s a total loss.

Can you afford to replace your home? Can you afford to move into a new home? What will happen if you can’t?

This is a situation many Americans find themselves in. In fact, according to the Insurance Information Institute, the average claim for fire and lightning damage costs over $77,000. That’s a lot of money, even if you don’t have a total loss.

How To Make Sure You’re Covered When You Need It

Take a home inventory. Make a list of all the items in your home you would want to claim if you lost them. Take pictures of your valuables. This will help your insurance agent better estimate the value of your property.

Analyze and update your policy when needed. It’s a good idea to review your coverage to ensure it’s regularly adequate. Also, make updates after you do anything to affect your property’s value, such as renovations or installing new detached buildings.

Work with your Overland Park, KS insurance agent. When you have worries or questions about your home insurance coverage, Highpointe Insurance Services LLC is here to serve.