This week I got my home insurance renewal and I realized something really important. For two years now we have been banging on about home values going up. The other thing that’s gone up is the cost to build. And we talked to some builders and they estimate that to rebuild a home you’re starting at at least $350 per square foot going up depending on the finishes that you have in your home.
The other thing I realized is that I’m insured for three months of temporary accommodation. But what we are hearing is that if you need a builder right now, you’re waiting at least a year. So I am grossly underinsured for the value of my home.
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