Residential Insurance

State of California Department of Insurance 15 • Stay informed as to the current building costs in your area. Contact local general contractors and ask what the current price per square foot is for a home similar to your own. • Keep accurate records of updates, renovations, and improvements to your home. Save receipts and samples of materials used when possible and contact your insurance agent or broker to increase the dwelling limit when appropriate. • Contact your agent, broker, or insurance company to request a comprehensive inspection of your home if you believe your policy limits may be inadequate. If you believe that your dwelling limit is undervalued or overvalued, and you have submitted documentation in writing to your agent, broker, or insurer to raise or lower the limits and your request is refused, then contact the CDI for assistance by using the information in the “Talk to Us” section of this brochure. The “contents” limit is generally around 50% of the dwelling amount; however, this is a guideline only, as the most reliable source of information on the replacement value of your personal possessions is you. Be sure to take into account all of your personal property when calculating the contents limits. Read and understand the limited coverage amounts for specific types of personal property such as: • Jewelry • Firearms • Fine arts • Computer hardware and software • Silverware • Business personal property • Antiques • Money • Collectibles The limited coverage amounts for specific types of personal property are not separate limits in addition to the contents limit. These limits are included in the overall contents limit and represent the maximum paid out for that specific type of personal property. Therefore, it is very important to add an endorsement (sometimes referred to as a “rider” or a “floater”) to coverage which specifically schedules and takes into account the value of personal property that you may own above the special limits. Contact your agent or broker to discuss how to adequately cover any personal property that is valuable, falls above the limits, or is in any way out of the ordinary.