October 27, 2008
Market and Replacement Costs
To ensure they have the optimal coverage, policyholders should learn the difference between the market values of their homes and the replacement costs. Homeowners on the Connecticut shoreline might also be in for a rude surprise.Insurers will be taking more measures to protect themselves from shoreline catastrophes.Some homeowners, after suffering flood damage, might learn that sr22 insurance policies do not cover floods; separate flood insurance is only provided by the Federal Emergency Management Administration.Other shoreline homeowners will see increases in their deductibles, and perhaps exclusions of what insurers will cover.