By Kimberly Lankford
One of the biggest mistakes people make is to base their home's insurance value on its market value. The numbers are totally different. You need enough insurance to pay to rebuild your home if it is destroyed, which can be a lot less than its market value
Source: Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/04/01/AR2010040104075.html
By Nancy F. Smith
“Too many people are not adequately insured, and they don’t know it until it’s too late,” says Amy Bach, executive director of United Policyholders, a nonprofit consumer education organization. An estimated 66 percent of American homes are underinsured by an average of 18 percent (that’s $90,000 for a $500,000 house), according to a 2007 survey by Marshall & Swift/Boeckh, a company that provides data to the insurance and building industries.
Source: CBS MoneyWatch.com
http://moneywatch.bnet.com/saving-money/article/homeowners-insurance-make-sure-you-are-covered/363805/?tag=fd-bundle-0;bundle-river-item
By Marshall & Swift
Preparing your home for disasters: what would it cost to rebuild your home in case a disaster strikes?
Source: ABCTVNews.com
http://abclocal.go.com/kgo/video?id=6753801
By Dayana Yochim
More ways to save ... Don't get shortchanged if disaster strikes: Surveys show that more than half of U.S. homes are underinsured by an average of 22%. Coverage based on generic formulas ($65 to $150 per square foot) won't cut it if you've renovated or failed to account for rising building costs. For $7.95, accucoverage.com will calculate your home's replacement costs.
Source: Motley Fool
http://www.fool.com/investing/general/2009/01/14/fiscal-fitness-09-trim-240-from-your-home-insuranc.aspx
By Liz Pulliam Weston
After each natural disaster, too many people discover an awful truth: They don't have enough insurance to rebuild their homes.
Nationwide, 68% of homeowners are underinsured. That means someone whose house cost $200,000 to replace would find herself short by $36,000. Bach recommends Accucoverage, an MSB site that charges $7.95
Source: MSN Money
http://articles.moneycentral.msn.com/Insurance/InsureYourHome/IsYourHomeUnderInsured8KeyTests.aspx?page=all
By Mark Walker
One year after devastating wildfires destroyed 1,046 homes in unincorporated San Diego County, only 88 have been rebuilt, mirroring a trend seen in the wake of the 2003 conflagrations.
Source: North County Times
http://www.northcountytimes.com/articles/2008/10/21/news/sandiego/zb82b842670650748882574e10057a9c5.txt
By Terri Cullen
Accucoverage.com can help you determine the replacement cost of your home as you update your information. Give your life insurance policies a second look if ...
Source: Wall Street Journal
http://www.marketwatch.com/News/Story/homes-insured-enough/story.aspx?guid=%7B2297E29F-1D7F-4C73-8332-9D3A17279FBD%7D
MSB's AccuCoverage, the consumers’ on-line resource for calculating insurable value of their homes, was named a "top site" for consumers
Source: Kiplinger's Personal Finance
http://www.kiplinger.com/magazine/archives/2006/11/bestinsurance.html
By Nedalee Thomas-Ruiz
Ask an insurance agent, a mortgage broker, and a realtor "How much insurance should I have on my new home?" I will guarantee you will get three different answers. The mortgage broker might say the loan amount, the realtor might say the market value, and the insurance agent, if he or she is doing their job correctly, will say the replacement cost of the home. So who's correct?
Source: Nedalee Thomas-Ruiz
http://dynamiteruesults.blogspot.com/2008/03/insuring-home-properly.html
By Gerri Willis
After Hurricane Katrina, many homeowners in the Gulf region are learning the hard way that their homes were underinsured.
Source: CNN/Money
http://money.cnn.com/2005/09/22/pf/saving/willis_tips/
By Vanessa Richardson
Hurricanes serve as reminder to check policy limits, rebuilding costs
Source: MSNBC
http://www.msnbc.msn.com/id/9410763/
By Kate Ashford
Magazine staff reporter 4 questions to ask: Make sure you're prepared for any disaster. What would it cost to rebuild? Likely more than you're insured for, even if you have an inflation rider. A local builder might give you an idea, but the Web will do the job as well: You can fill in your home's location, square footage, the year it was built and so on -- and get a construction estimate for $7.95 -- at accucoverage.com and insuretovalue.net.
Source: CNN Money.com
http://money.cnn.com/2006/01/13/pf/insurance/insurance_money_0602/
By Jillian Mincer
The destruction on the Gulf Coast has persuaded many consumers to update their homeowners insurance -- something everyone should do regularly. But many find their homeowners insurance may be inadequate in a disaster.
Source: RealEstateJournal.com (The Wall Street Journal Guide to Property)
http://www.realestatejournal.com/buysell/taxesandinsurance/20050916-mincer.html
By M.P. DunLeavey
Updating a home insurance policy is one of those chores that many people secretly hope the insurance elves will handle. At least I did…
Source: New York Times
http://www.nytimes.com/2005/08/13/business/13instincts.html
In the wake of Hurricane Katrina, many homeowners in Louisiana and the Gulf region are finding out the hard way that their homes are underinsured and often covered by the wrong kind of policies. Financial adviser Ray Martin takes on a painful topic in his regular appearance on The Early Show.
Source: CBS News
http://www.cbsnews.com/stories/2005/08/31/earlyshow/contributors/raymartin/main808188.shtml
Marshall & Swift/Boeckh launched a new online tool to help people determine how much insurance they need to cover replacement costs, in the event their home is damaged.
Source: The Business Journal Phoenix
http://phoenix.bizjournals.com/phoenix/stories/2005/08/08/daily42.html
What's your biggest investment? It's probably your home. But, most of us fall short when it comes to insurance. In fact, a new survey shows nearly 60% of American homes remain underinsured by an average of 22%!
Source: CBS2Chicago
http://cbs2chicago.com/consumer/local_story_234155231.html
Now is the time for consumers living in states threatened by hurricanes or their aftermath to ensure that their homeowners' insurance policies provide sufficient coverage. The American Insurance Association (AIA) has developed a brochure for consumers to use in conducting an annual insurance check-up.
Source: Insurance Journal
http://www.insurancejournal.com/news/national/2005/09/09/59335.htm
By Michael Finney
For most people, your biggest investment is probably your home. Yet most don't really have adequate insurance in case of a disaster like a hurricane or earthquake.
Source: ABC News
http://abclocal.go.com/kgo/story?section=7on_your_side&id=3422734