Home Insurance

The Landry Team with Keller Williams Realty hosted a Public Real Estate Workshop this past weekend February 23, 2008 in Holly Springs, MS.  It was a great success with tips and discussions that motivated everyone.  One particular speaker brought out many points that was very interesting to me.

This was our insurance agent Tom Lyons with Allstate Insurance in the Memphis, TN area.  He discussed what a basic home owners plan covered and what it did not cover.  This is something that you may want to discuss with your insurance agent. It's always better to see what you are covered on and how much coverage you have.

Tom Lyons also spoke about making sure you have a replacement cost plan.  As time goes by, everyday items seem to get more expense.  10 years ago a great tv could cost $500-600 dollars and today that same great value could cost you $1100-1200. It can also be the same for your home.  If your home cost $100,000 to build 15-20 years ago and it burns down tomorrow.  With the inflated construction prices of lumber and materials, it may cost you $150,000 to build the same house today.  With a replacement cost plan, these inflations are taken into account and adjusted yearly.

Again, check with your insurance agent and go over your plan again and make sure you understand what all it covers and doesn't cover.

Have a great day!