"Tis almost the season"!  No, not the holidays. The hurricane season all Floridians concern themselves with from June to November each year is just around the corner.

This is a good time to get out your homeowners insurance policy and check to see just what your coverage would be if your home was damaged by a hurricane. If you think the coverage is inadequate or there are terms that you do not understand - call or go see your insurance agent immediately. 

Recent reports have stated that perhaps as much as 73% of in-force homeowners insurance policies may be undervalued.

Costs of construction materials continue to rise daily. We as consumers see the increase in gasoline prices but often overlook how petroleum prices cause steep rises in construction material prices. 

Please be aware that even in a real estate market with dropping prices the replacement cost of your house may exceed the market value.

Insurance valuation terms to take note of and learn the definition of are:

!. Actual Cash Value  

2. Replacement Cost  

3. Extended Replacement Cost

4. Guaranteed Replacement Cost.

Your licensed insurance agent can explain these terms and your policy to you.

Now, where is my homeowners policy?

 Jay@JaySparkman.com