Is Your Insurance Coverage Enough?

February 8, 2023

Whether auto or homeowners, insurance is a powerful form of protection against disasters. Insurance makes rebuilding possible when something unexpected happens, whether a house fire or a car crash.

Unfortunately, a significant portion of the population is likely underinsured. Although building costs have risen in recent months, only 30 percent of homeowners have updated their insurance policies to accommodate this change.

What Does It Mean to be Underinsured?

To be underinsured means to have the wrong coverage or insufficient coverage to protect your home or car when a covered event occurs.

How to Get Adequate Coverage

• Be honest with yourself about your insurance needs.
• Be honest with your insurance agent about home improvements.
• Review your auto and homeowners insurance coverage every year.