Property Insurance

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Are You an Underinsured Homeowner?

Replacement Cost Insurance

When buying a new home, it’s hard to imagine that your investment might be completely destroyed by a flood, fire, or other natural disasters. Unfortunately, this leads to most homeowners being underinsured, purchasing only the minimum amount required. Too often, homeowners realize that they need guaranteed replacement cost coverage only after it’s too late.

The Costs of Rebuilding

Traditional property insurance generally covers the actual cash value of your home. While it’s usually the least expensive policy to purchase, it won’t cover the expensive costs of rebuilding a new home. When disaster strikes, these policies may only pay the amount of the mortgage. According to, that might be only 80 to 90 percent of the home’s actual value – even less If your home has appreciated since the purchase.

The costs of building a new home from the ground up will far exceed the amount of money you’ll get back from these types of policies. Supplies and labor costs simply aren’t covered by traditional homeowner’s policies.

Guaranteed Replacement Cost

Guaranteed replacement cost insurance is designed to help protect homeowners from being underinsured in the event of a catastrophe. This type of insurance pays the full cost of replacing the home, even if it’s beyond the policy limits. Helping homeowners avoid a “total loss” situation, this type of policy makes all the difference when you find yourself wondering what to do next.

Breaking Down Business Insurance For Beginners

glen rock business insurance

Are you looking for Glen Rock business insurance? As a new business owner, its easy to get overwhelmed by all the coverage options that are available on the market. Here is a simple breakdown of three coverages that you should plan to include in your new policy.

General Liability Insurance

General liability protects you in case a third party claims to have suffered an injury or property damage because of your business. In such a situation, your policy would cover your legal fees and other expenses for which youre found liable.

Professional Liability Insurance

Professional liability is great coverage for new business owners. Especially for consultants and other professional service providers, it protects you against lawsuits from third parties claiming that an error on your part led to them experiencing a loss of some sort. Like general liability, your policy would cover all your legal costs.

Property Insurance

Property insurance is essential as it keeps you from having to spend your own money to repair or replace your business property following a disaster. You can have your building, equipment, furniture and digital assets all protected against fires, certain storms, vandalism and theft. Even if all you have is a laptop, property insurance can cover it and your data that’s on it.

More specific coverage options are available depending on your industry and business needs. Work with an experienced Glen Rock business insurance agent to create a policy that suits your needs.