Do I have enough insurance to rebuild my Covington home?

Most Covington homeowners insurance policies are insured up to the insured dwelling amount and not a penny more.

What happens is if the cost of building materials has increased since you purchased your policy you no longer have enough insurance to rebuild your home

If you purchased a homeowners insurance policy for 300,000 a few years ago and your home has a large fire and you need to rebuild you go and find a local home builder to give you an estimate

But their estimate to rebuild is 400,000

The insurance company does not give you 400,000 to rebuild

You get a check for 300,000 and you pay out of your pocket another 100,000


When you work with a Covington insurance broker like FM Agency Group we include the one endorsement you need to make sure you have enough insurance to rebuild your home no matter how much the estimate to rebuild is from the home builder

We offer a Preferred Homeowners Insurance policy for Covington homeowners

The policy includes many endorsements or add ons that give you the extra coverage you need to make sure you don’t have to pull from your bank account to cover a shortfall on your next claim check


Not all Covington homeowners insurance policies include this endorsement

The simple add on coverage is 25% 50% or 100%

You choose the % of the additional amount of coverage

If you decide to purchase 50% extended replacement cost and your home is insured for 300,000 you would get an additional 150,000 (50%) to rebuild your home so the claim check in the event of total loss would be 450,000 to rebuild your home

That inexpensive endorsement add on to your home insurance policy would give you the security knowing no matter how much the cost of building materials increase you have enough to rebuild your home

Often a local insurance broker will represent insurance companies that specialize in the best insurance coverage not advertising

Complete the form below to get started so we can determine what you need to protect what you have

FM Agency Group is your insurance broker that will help you review your Covington homeowners insurance so you can make the best insurance decision to protect your home