[StBernard] Insurance

[Westley Annis]

David, with working with State Farm, I was able to determine that I could
keep the least possible coverage of $5,000 coverage (for $500.00 a year)
until a rebuild/remodel is complete which will increase as work is
done/stages where value increases. It's better than paying $2,xxx.00 dollars
for a destroyed home under full value.

This way, you not only save in premiums, you don't cover property that's
already destroyed and been paid off.  This way, with flood and homeowners,
you won't have to worry so much about not getting insured by dropping and
trying to get coverage/or not being able to obtain new policy once original
policy is cancelled. Hence State Farm mentioned that keeping the minimum
coverage is what's needed.

Call your insurance agent to determine the best course of action.

For flood, I maintained my same coverage at $385.00

Good luck, Dave..

**jer**

-----Original Message-----
To what extent do we need insurance on our homes when we meet with people
involved in The Road Home?
I'm sure we need liability but beyond that do we need insurance to cover the
present worth of our house? Our home was 60-100% damaged and is scheduled to
be demolished. We have no contents so I would imagine that coverage is
unnecessary as is coverage for loss of use.
Maybe I should know this but If there was information on this subject I
missed it.
Thanks for any help.
David Jochum