Co-Insurance and Replacement Cost- Are You Insured Properly?

Is your building insured for what it would cost to rebuild it? Co- insurance is the required amount you need to insure your property for the insurance company to pay the full amount in the event the building needs to be rebuilt.

If your co-insurance requirement is $100,000 in coverage, but you only insure for $50,000 (1/2) and you have a kitchen fire resulting in $25,000 worth of damage, your insurance company will only pay up to what you paid into co-insurance (1/2) which means you will get $12,500 to repair that kitchen.

Working with a local agent or broker will help ensure your building is covered properly in the event of a loss. We make sure your building is covered for the amount it would cost to rebuild. If you have questions or want to be sure you are insured properly, give our office a call!

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    Are you ready to save time, aggravation, and money? The team at Hopmeier Evans Gage Agency, Inc. is a special type of insurance that covers the company building as well as the contents owned by the company, is here and ready to make the process as painless as possible. We look forward to meeting you!

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