Recently we have been receiving a number of calls regarding the value of their homes. With the real estate market down considerably many people think that they should be able to reduce the value of their dwelling coverage on their insurance policy. many homeowners equate the worth of a home to its market value especially if the home was a recent purchase. While the market value is a valid calculation of a homes worth for buying and selling it has little to do with the cost of rebuilding. What your insurance policy is intended to do is to rebuild your home when destroyed by a covered peril. There are several factors that go into the calculation of the replacement cost of a home which I will just name a few. After a disaster such as a tornado the cost of building materials and rise because of increase demand. Repair work to a partially destroyed home is done from the top of the home down. This is more time consuming and labor intensive. Changes to building codes may require costly updating even for undamaged parts to the home. Let’s not forget demolition costs which you would not have if you built a new home. The replacement cost of your home will be higher than the market value or tax value. I hope this will help you understand why we have to insure your home for its replacement value, you will be glad you did in the event of a loss.
We have had our home & auto insurance through McKee & Andrews Insurance for over a decade. They have always been there immediately when there has been an accident or other problem. Mike has resolved issues quickly and found ways to save us money. Jim has resolved multiple questions on liability with a few phone calls. Lynda proactively saved us a problem by letting me know she was sending over some important documents that were important to protecting our rates and coverage. This is why I would…
Michael & Wendy C.Minnetonka, MN
We love working with Lynda. She gets our certificates out instantly. Great service!
McKee & Andrews saved us over $410 on our auto insurance and improved coverages at the same time. Well done!
I have been working with Jim Andrews for over 15 years and he provides all my law office insurance needs. The service from his firm is impeccable; I always have answers to my questions immediately–often within the same hour. Jim is quick, bright, and epitomizes the concept of “best practices.
Our business saved almost 50% when we switched to McKee & Andrews. We also received valuable coverage recommendations.
I am so impressed with your staff person Lynda. I requested a commercial business quote from four different agencies and Lynda was the first person who got back with a quote. Also, the quote was for better coverage and the price was a great value. Thanks for such great service!
Linda GoresPlymouth, MN
Mike, I wanted to thank you for helping me with my business insurance last week. You were extremely helpful and didn’t even flinch when I told you I needed it yesterday! You gave me a great deal and I really appreciate it!