Call: 203-637-6655 or email – Kyle Shepard

Cashing Out! - Shepard Insurance Group

Cashing Out!

Required to Re-build, it Depends

Currently there is a lot of dysfunction in this world, and one of the more prevalent is the cost to rebuild or repair a home, versus the real property value. Even with the Covid suburban rush of people buying homes, construction costs are still not reflective of what you can sell your home for.

“Basic or Premium, which policy do you have?”

Here is a thought

You may not be aware but there is a defining line in the 2 types of insurance policies available to insure your home. Basic or Premium. Easy to understand there is a difference in the annual premium. Do you know which one you have?

And why is it important?

With a basic home insurance policy you are basically required to rebuild or replace your property to the way it was prior to the loss. Flexibility is very limited. So if you want to change your foot print, or sell the home damaged and move on, you face a replacement cost challenge and often times a financial gap.

Alternatively, a premium home contract comes without limits, but has flexibility. Change the foot print, sure. Or even if you desire, cash out for your property policy limit in a total loss.

It is important to recognize that a serious property loss is an unlikely event. But to avoid being stuck in an inflexible box, take the time to compare a basic home policy versus a premium contract. It will be time well spent.

If you have a question give Kyle a call at 203.698.9342 or email him at

Leave a Comment