One question we are frequently asked is “Do I have too much insurance on my home?”

Many of you know, home values have been decreasing across the country for the last few years. In Nevada, (especially Las Vegas) home values have recently stabilized, which is great news for Nevada homeowners.

Homeowner’s coverage is calculated on reconstruction cost, which includes labor and materials in order to rebuild your home after a loss. Market value is what your home is worth on the real estate market. For example, when the market value of your home decreases due to market conditions it does not necessarily effect reconstruction cost.

A homeowners top priority is making sure you have enough insurance which is just as important as making your mortgage payment. You do not want to be in a situation where you cannot rebuild your home because your insurance coverage is not adequate to cover the costs.

The best way to make sure your most valuable asset is protected is to contact us to review your homeowners insurance policy and notify us of any changes such as upgrading your kitchen or any home improvement.