A home is generally your largest asset. Protect it. Insurance is the critical back-up plan enabling you to rebuild your home after a wildfire. Federal catastrophe grants are not enough to rebuild a home. Make sure your family’s financial safety net is in place, in case disaster strikes. Follow these tips as part of your Ready, Set, GO! wildfire preparedness plan:
Tips 1: Conduct an Annual Insurance Check Up
Call your agent or insurance company annually to discuss your policy limits and coverage. Make sure your policy reflects the correct square footage and features in your home. Consider purchasing building code upgrade coverage.
Tips 2: Know What Your Policy Covers
The details matter. Understand if you have a replacement cost policy that pays to replace all your items at current market price or an actual cash value policy that takes depreciation into account and pays less for aged items.
Tips 3: Update Your Policy to Cover Home Improvements
If you make home improvements, be sure to call your agent or company to update your coverage. Make sure your insurer knows about the changes, so the new countertops, floors or room are covered if you must rebuild.
Tips 4: Maintain Insurance
If your home is paid off, be sure to maintain homeowner insurance. Without insurance, do you have the money to rebuild your home? Check with loved ones whose homes are paid off to be sure they continue to carry homeowner insurance.
Tips 5: Get Renters Insurance
Renters can lose everything in a fire and be left to start over. Many insurers bundle renters insurance coverage with an auto insurance policy at affordable prices.
Recovery is easier if you have an accurate home inventory. Document the contents of your home before a fire occurs. Use your smartphone to video your belongings. Keep your inventory & photos outside home or in the cloud.
Tip 1: Video or photograph each room of your home.
Remember to document drawers and closets.
Tip 2: Describe your home’s contents in your video.
Mention the price you paid, where and when you bought the item.
Tip 3: Remember to note important or expensive items.
Video your electronics, appliances, sports equipment, TVs, computers, tablets.
Tip 4: Save receipts for major purchases.
Store key documents in the cloud or fireproof case. Keep home inventory offsite or in the cloud.
Tip 5: Video the Garage
Don’t forget to video or photograph what is inside your garage.