If you have remodeled your home, you may have increased the value of your home. This may leave you wondering if your home insurance policy should be increased as well. Here is some information you need to consider.
Home Insurance Does Not Pay You the Value of Your Home
One common misconception about home insurance is that home insurance covers the value of your home. However, they do not. They cover what it would cost to rebuild or repair your home after an event. For example, if your $250,000 home was damaged in a fire, insurance would not pay you $250,000, if your policy limits are that high. They would pay what it would cost to rebuild your home to the same level it was before. This may only be $150,000 or $200,000. This is important to keep in mind as many people confuse the two.
Reasons to Increase Your Value After Remodeling
If you have remodeled, you may have used materials that are more expensive to repair than the materials you previously had. For example, marble is more expensive to replace than porcelain tiles. As such, if you have used expensive materials in your remodel, you will want to increase the value of your home insurance policy so these items are included if you need to file a claim.
Deciding whether to increase or decrease your home insurance policy is a big decision. You should let someone with experience and expertise guide you. When you have questions about a home insurance policy or are looking to purchase a new one, let E.S.T.I.R. Inc. in Newark, NJ help. Call us now to get answers to your question or get started pricing out your new insurance policy.
When you are driving, you should be paying attention to the road. Unfortunately, we are all human and there are things that can cause us to become distracted. While cell phones are in the news often for being one of the biggest distractions that people face while driving, there are many other things that can distract us as well. Here are a few common distractions that you may not even be aware are distracting you while driving.
One of the biggest distractions drivers on the road face, without even realizing it, is the radio in their car. If they do not like what is on the radio, they may look down and change the station. In the amount of time it takes you to look away, your eyes are off the road. It may not seem long but it doesn’t take long for someone to suddenly stop or for a child to run in front of your car.
Another common distraction in the car is your children. If your kids are being loud, crying or otherwise demanding your attention, you may be focused on them, and not the road. Unfortunately, there is not much you can do but try to tune your kids out for their safety and yours.
The last thing that is a common distraction for many drivers is food. You may be eating while driving, sipping your coffee or even reaching for a piece of gum. It is highly advised that you avoid eating while driving and only sip on your drinks when stopped at red light.s
Learning about common driving distractions can help you stay safe on the road. Having the right auto insurance company can also help protect you while on the road. If you are in the greater Newark, NJ area and are interested in obtaining a new auto insurance policy, give E.S.T.I.R. Inc. a call. We can help identify the right coverage amounts for you at an affordable price. Call us today for a free price quote.