Should review the contract of insurance hous

Just then, a forest fire risk was missing thousands of samples in some areas north of the city Los Angeles. This area has houses expensive money million. First few months of this year, some houses in the city Laguna Beach, Orange, and dip valley after some drencher before making land subsidence. Area is also home worth a two million dollars.

California has three natural disasters causing much damage especially earthquakes, land and forest fire sequence. Types of natural disasters are causing more significant damage, both the network and physical assets, if the disaster to happen in this area of the trees.

In the East, to avoid the earthquake, the storm was. In August and September 2005, two match Katrina and Rita storm damage estimated at more than 100 million dollars. Private insurance industry will pay out about $ 34 billion dollars, the number of most its the insurance industry to compensation for a disaster.

Any houses yet, the building will have some coverage of natural disasters and accidents basis. This is required to purchase the home. Sponsors will not loan money to buy a home if the loan would not buy insurance for your home. Because if the destruction was by a natural disaster is, the more the debt will not be able to pay more in debt when they lose business products.

But a majority owner of the house may know or not know that their home was not covered enough for many (not May after a disaster) has money to build houses.

According to the company Marshall & Swift, a company specializing in cost of construction, nearly 6 in 10 houses in the state Louisiana was not home to buy full insurance (underinsured). Similarly, just after the company (headquartered in Los Angeles) said that nearly 60% of houses across the United States was not fully insured. Also say that lack of insurance to start, this company said that average is about 22%. This means that if necessary the amount $ 300,000 to build the house was a disaster destruction, people only buy insurance and that compensation has been $ 234,000.

This figure is very significant and alarming people to review the insurance contract. Construction materials, labor cost, as we all know, increased very rapidly in recent times. Without insurance compensation enough to be building a new home, homeowners will face great difficulties. One side must continue to pay debt for financing the company, on the other, not enough money to build the home.

So who is responsible for the review of the insurance contract? Main house owner, not anyone else. Insurance or employees of their duties have not terminated exchange customers to purchase additional insurance for the full replacement value (replacement cost) of the house. Main owner must know that the insurance you are, whether there is enough to build houses when other natural disasters may not, or a fire because that's, to enter.

How is most appropriate?

Do you want insurance compensation amount is not enough to reconstruct the house and the furniture has been the destruction? Furthermore, you want insurance to provide money for your family staying elsewhere (hotel, rent house) temporary home after the destruction? Then again all the responsibilities of owners (liability) if someone other than family injury present in your home when the disaster occurred or accident?

Typically, the insurance company based on the area of the house to determine the construction cost to replace (replacement costs). But the company Marshall & Swift (with experience has been 75 years) said that the calculation method of construction costs based on all the parts of the house (total component formula) is more accurate. This company has a program computing the total gộp all parts, components of the house with the structure and material architectures characterized by them to calculate the actual cost of a home.

Only to remove the $ 19.95 the company Marshall & Swift can provide to anyone (via Internet) to the ability of their expertise, based on the special characteristics of the house you owned, a analysis and cost money to start, based on rules of construction (building codes), labor cost, material cost of each locality to replace in case of the destruction. Estimate copies this host a basis for discussion with the office of your insurance about the need to adjust appropriately.

To help you easily decide more, the company said on a number of questions. If your answer is "yes" to one of the questions below, call the office for your insurance.

- Are you smoking the page, as more (significant home improvement) for the house not? Example: How to room, upstairs, replace the entire bathroom, kitchen with expensive materials, etc. ..

- From the first time (calculating the cost to replace the house with representatives insurers) to now, has not exceed 12 months? Furthermore, the calculations have focused on the characteristics of the home that you owned or not?

- Value in the areas of the house you have to increase very rapidly in recent times or not?

- Your home is the value of history or not?

Copy of your insurance you have to include all land located beneath the house or not? If so, such a legacy. Value of land is not in the home insurance.

You certainly know that insurers will come to you in those cases separately as fire, storm, flood, earthquake, just lốc, the chain etc. .. home if your damaged completely?

Do you know how much the types of furniture in the house your insurance or not? Most of the insurance compensation only by a rate based on the replacement cost of the house structure. If this is the case, you did not buy enough insurance for obvious it did not help with the acquisition were similar destruction.