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Category: Home Sense

What is Guaranteed Replacement Cost?

What is Guaranteed Replacement Cost?

Few things in life are worse than losing your home to fire or a natural disaster. Except, that is, discovering in the aftermath that you don’t have enough homeowners insurance coverage to rebuild the house back to how it was before trouble struck. If you get Guaranteed Replacement Cost (GRC) coverage, that is unlikely to happen. Why? GRC will pay for the full cost of rebuilding...

Beyond the Walls: What is Dwelling Coverage and How Much is Enough?

Beyond the Walls: What is Dwelling Coverage and How Much is Enough?

Dwelling coverage is the portion of your homeowner’s insurance that protects the physical structure of your home from common hazards. This includes not only the livable area of your house but also attached structures like your deck, porch, or garage. Since it covers anything that’s considered to be legitimately part of your home’s structure, it also covers things like built-in appliances. When it comes to unattached...

Replacement Cost vs. Market Value: What's the Difference?

Replacement Cost vs. Market Value: What's the Difference?

If you were asked to describe the state of the housing market over the past few years, it could be summarized in one word: expensive.According to Home Bay, a real estate education platform, U.S. home prices increased an astounding 42% in the three years between March 2020 and March 2023.That data also showed that the national median home price rose to $468,000 as of 2022,...

Your Quick and Easy Guide to Electrical Safety at Home

Your Quick and Easy Guide to Electrical Safety at Home

Electrical dangers are serious business. From risk of shock to potential fires, you’ve got plenty of reasons to make sure your home’s electrical systems are in good shape and safe working order. Fortunately, in most houses, a simple walkthrough can help you identify and avoid the most common risks. (Having the right homeowners insurance can provide peace of mind, too.)Most fixes are simple and inexpensive, if...

What Does Homeowners Insurance Cover?

What Does Homeowners Insurance Cover?

We all hope never to need that policy, but do you know exactly what a homeowners' policy covers? The answers may surprise you and even save you some money in areas you never realized! Homeowners' policies offer a wide range of coverages, from your home itself and structures on your property to liability coverage, even to loss of income coverages. As always, coverage will vary from...

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