10 Common Home Insurance Mistakes That Can Cost You Thousands
If you haven’t considered these potential insurance options, you could be in danger of losing a lot of money. Here’s how to avoid the traps.
Not accounting for inflation
You might well have paid $200,000 for your apartment in 2000, but your home will almost certainly be worth more now, and it’s all too easy to underestimate the increase in value. “A big mistake is not having the correct limits on the value of the home,” says Baranoff. ” Consumers can buy endorsements such as ‘inflation guard’ that ensure there is full coverage of at least 80 percent.” Next, check out the 22 secrets your real estate agent isn’t telling you.