Congratulations! You have purchased your “almost” dream home. When you first purchased and insured your new home it was near perfect but you knew you would be making some betterments and improvements. But why would you insure for items and features you don’t have at this time?
As your insurance agency, we more than likely asked specific questions such as the current finish of your kitchens, bathrooms and most importantly… “Do you have a basement and is it finished?” Answer: Yes, but there is nothing but concrete and 2x4s.
Skip to 5 years later. During a heavy rain storm the sump pump fails and now the drywall and carpeting installed a year after you moved in (along with the new furniture and pool table you purchased the next year) are soaked with water. Not to mention there could be possible water damage to your brand new wet bar and home theatre room. The original $10,000 water backup you agreed to for your non-finished basement would not come close to putting your now-custom finished basement back to right.
As your insurance agency it is always our job to anticipate your loss without over insuring you. However, over time your needs and exposures can change. We urge you to contact The Uhl Agency with any changes made to your home and structures on your property in order for us to determine if the original policy put in place for your home will be enough to put your improvements back to right.
Written by Nell Sharp, Personal Insurance Account Manager