Molly’s Musings

She's not Dear Abby, but she does get a lot of interesting questions from folks just like you!  


Frequently asked questions...

You asked. We answered.

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How come what my home is insured for doesn’t match what my home is worth?

What your home is worth is it’s market value. What your home could be replaced for is it’s replacement value. When we insure your home we base it on what it would take to replace your home.

How do you arrive at the replacement value?

We plug in many details about your home into a program that stays up to date with local costs for labor and materials. This program then produces the replacement value.

What deductible option is the best to select?

Home insurance is designed and priced to protect against a catastrophe. The more times you turn in small claims the greater the chance your insurance company will non-renew your policy. When you combine that with the fact that the greater the deductible you select the bigger the credit against your premium- there is an incentive to pick the highest deductible that you feel comfortable with.

What happens if the replacement value is off a little?

Insurance companies recognize how hard it would be to arrive at the exact amount so they provide typically provide what the home is insured for and at least an additional 25%.

Will my homeowner’s policy cover my collectibles, my one rare antique, and my wife’s wedding ring?

Despite the fact that your homeowner’s policy provides coverage for your personal possessions every company has limitations on specific items. Your agent will talk with you about these types of items and they can be covered by scheduling them in addition to your contents.