oward annan Real Estate Services SPENCERPORT OFFICE 421 South Union St., Spencerport, NY 14559 marvlobene@howardhanna.com Mary Lobene Lic. RE Salesperson (C) 585-734-3362 Adequate Insurance Coverage It is important to keep your homeowners insurance policy current by updating and increasing its value as you change, modify, or make additions to your home. The building block of any homeowner's insurance policy is the amount of coverage on the house and its contents. This figure should be based on the replacement value or what it would cost to rebuild the structure. The replacement value often changes over the years. Insuring for less than the full value is false economy, and refers to valuation no longer available on most policies. Nearly all insurance companies now require homeowner's policies to be insured at 100% of actual replacement cost in order to cover a loss completely. Most companies also offer at least"extended replacement cost" to cover inflationary cost increases for con- struction and the added costs of loss clean up. Choosing an inflation guard clause for your policy that automatically raises your coverage in step with rising prices is another way you can protect yourself. You should evaluate your insurance coverage based on the value of your house and contents at least every two years to make sure that you are adequately covered. For professional real estate advice, give me a cal Mary Lobene at 585-734-3362.