Some consumers may find that the amount of insurance they have is insufficient to rebuild their residence. You must go beyond appearances when evaluating the risks that could affect a residence. You must take into account all the improvements that have been done over the years, for instance, the addition of a deck, kitchen or bathroom renovations, adding an extra room or powder room in the basement, or new interior or exterior finishes. You must also take into consideration the original construction materials as opposed to those used today.
The best home evaluations are done by professional evaluators. Ideally, an insured should have an evaluation of the cost of rebuilding the home done every five years.
In fact, the
Code of ethics of damage insurance representatives explains that while it is the responsibility of the representative to conscientiously advise his client with respect to both the evaluation of his property and the amount of insurance needed to provide the best coverage, he should also encourage the client to avail himself of the services of a professional evaluator.