When purchasing a home insurance policy, it’s important to buy enough coverage to protect yourself against financial loss if a catastrophe would occur.
Sixty-four percent of homes are undervalued, and potentially underinsured, by an average of 19 percent, according to Marshall & Swift/Boeckh, a California-based company that calculates residential building cost data. In the event of a total loss, you may be responsible for making up the difference out of pocket, an amount that can easily mean tens of thousands of dollars.
That’s why Erie Insurance offers Guaranteed Replacement Cost. That one extra word — guaranteed — means you’ll be covered if your home is damaged or destroyed from a fire, tornado or other covered loss. You could rebuild your home after a major loss without worrying about depreciation, policy limits or insurance construction costs once you’ve repaired or replaced the damaged property.
Why do you need an Erie Homeowner’s policy with Guaranteed Replacement Cost?
- Your current home insurance probably includes replacement cost coverage, but only up to a specific percentage or dollar amount.
- It’s comprehensive, customizable protection (and if you insured your cars with Erie, you can get additional discounts).
- As with all Erie policies, you get top-nitch coverage, award-winning claims service and a trusted local advisor!
Give us a call to have us review your current policy today! 765-935-5655