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Home Insurance Question from Venice, Florida
Answer given on August 27, 2018
If you added an enclosure to your home, it will increase the replacement cost of your home. This is presuming that the enclosure is attached to the home. If it is a separate structure, it would be covered under the additional structures coverage of the homeowner policy. This amount is usually 10% of the dwelling limit, so in your case it will be $21,800. However, if it is a part of the home, you need to review your insurance coverage to be certain you have enough insurance on the home, including this addition.
In recent fires and other catastrophes throughout the nation people have learned that they were seriously underinsured. While I do not know the current size of your home, you should discuss the insurance amount with your insurance agent or insurance company. You may also want to talk to a contractor as to their estimate of construction costs in your area. It is not in your best interests to "low ball" your insurance in an attempt to save money. If you have a total loss of your home, you will come out on the short end.
NOTE: The IMPORTANT NOTICE below is a part of this answer!
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