Highlands NC Homes, Should You Increase Insurance When Home Values Go Up?
A common question for owners of Highlands NC homes is whether you should increase your insurance when home values go up. It’s a great question. Highlands NC real estate is a big investment and every homeowner wants to stay protected. It might not be a bad idea to check with your insurance agent to discuss your policy.
A significant increase in a home’s value might trigger the need to up your homeowner’s insurance. After all, coverage for the unforeseen is important. Additionally, new purchases like expensive artwork or furniture should be inventoried. However, not every increase in value requires additional insurance. When a home’s value increases for typical market reasons, like supply and demand, increasing homeowners’ insurance coverage is most likely not necessary.
When should you check with your insurance agent?
If you have conducted a major remodel to your Highlands NC home then it is a good idea to call your insurance agent to check in. Ultimately, it makes sense that a major investment (an addition, new kitchen, or remodeled basement) would make an impact on the value of a home. Make sure your insurance is updated to cover your home’s new value.
Learn more about buying and selling Highlands NC homes
Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about Highlands NC real estate. We welcome the opportunity to update you on market conditions while answering all of your questions. Let our knowledge and experience serve as your guide to Highlands NC homes.