You may have Connecticut home insurance and assume that you are covered and have nothing to worry about. However, you may be surprised at what your insurance covers and what it doesn’t.
If you have a basic home insurance policy, in the event of a total loss in a home fire, you would receive a check for the value of your home. Unfortunately, that may not be the cost to rebuild your home. So, while the value of your home may be $200,000, the cost of building materials may have gone up, and it could cost $300,000 to rebuild. This could make it difficult to replace your home. However, if you have Replacement Cost coverage, your home will be rebuilt with the same quality materials it was built with initially, at no extra cost to you.
With a basic policy, all of your personal possessions would be lost as well, with no reimbursement from your insurance company. A Personal Property Replacement policy would ensure coverage for all of that as well, at a cost to you.
It is important to know that you and your home are covered in the event of an emergency. Don’t take the chance of getting taken by surprise. Connecticut home insurance can give you what you need to get back on your feet.