We have been talking about this all year, but it is an important change that you as a homeowner need to know. Due to the increased costs for nearly everything in our country right now, we are seeing changes to insurance policies as well as our other essentials in our lives.

One of the main factors on your homeowners insurance policy is the Dwelling Coverage (Coverage A). Also known as the Reconstruction Cost, it is what the insurance company will pay out in the event of a total loss of your home to get it completely rebuilt. It also covers if the home is damaged to get everything fixed, but the main consideration is when a total loss occurs.

Due to increased material and labor rates, I have personally seen the Dwelling coverage increase by nearly $100,000 on a policy for a higher value home which caused a 30% increase on the policy at renewal. 

But these changes have impacted more than just the way we live. It has changed HOW businesses operate. From changing hours to safety regulations that we have never seen before. But these impacts have also changed the way the insurance industry is operating, and it is critical that you know about this so you can understand how to properly protect your family.

Many people have either heard a rumor or wondered how the COVID vaccine might impact your ability to get life insurance. At the present moment, there is nothing in any policy that I have seen that states there are any changes to a life policy whether the person had the vaccine or not. If someone were to unfortunately pass away, their life policy (If they had one) would still pay out. And there are no changes to underwriting when getting a new policy.

​Why is this important?

Because whether you have gotten the COVID vaccine or not, you still NEED to have life insurance! And know that you now it doesn't have any impact on your eligibility or payout restrictions, you can get options to fit your unique situation.