Protecting Your Investment

Homeowners are aware that securing adequate homeowners’ insurance coverage is important in protecting their investment. And as the housing market struggles, some homeowners are opting to remodel and upgrade the homes they currently have instead of buying new homes. A report released by BuildFax reveals that residential remodeling activity has steadily increased over a twenty-one month period and “that there has been an upswing in the sales of materials and the numbers of renovations exceeding $10,000.”

Vice President of Research and Development at Buildfax, Joe Emison, explains that “this remodeling boom is leaving many of these properties under-insured, as the value of these renovations are often not being captured by the homeowners’ insurance companies.” If you have remodeled or upgraded your home, or are making plans to do so, protect your investment by contacting your insurance agent or insurance carrier to ensure that your home is sufficiently covered in the event of a loss.

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