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Archive for April, 2021

Your Home’s Replacement Cost

(Photo courtesy StockVault.net)

Your Home’s Replacement Cost

The Coronavirus pandemic has hit the world hard. Businesses having to shut down for long periods of time & then faced with restrictions and precautions when reopening, people out of work, it has been very difficult. The price of goods and services are rising and predictions are they will continue to rise over the next year and possibly into 2022. The price of eggs, meat, & other grocery staples have risen, gasoline & natural gas prices are on the rise as well. The construction supply industry has been very hit hard and prices are rising because of it. An article from Fortune Magazine states that prices for lumber have increased by 193% and are expected to rise even higher in the coming months. Steel prices are increasing as well according to this article.

What does this mean to you and your homeowners insurance? It means that the cost to rebuild your home today will cost more today than it did in 2020 or even in 2010. Prior to 2021, most insurance carrier used the approximate calculation for the rebuilding of a home of between $110 and $120 a square foot. Because of the skyrocketing costs of construction supplies, this amount has changed and the new figures are between $175 and $180 a square foot with some insurance companies going as high as $200 a square foot.

We recommend that you contact your hometown insurance agent and discuss the current coverage amount on your home (and any outbuildings) to verify the amount is enough to rebuild your home. In some instances you may find that your home is over-insured. This could be due to the built-in coverage insurance companies add for inflation which is usually between 2% and 5% depending on the carrier. If you have been with a carrier for a long time this amount compounds year after year which can get over and above the actual replacement cost of the home.

It’s important to make sure your home is insured to value as many clauses in homeowners insurance policies require this in order to have either the Guaranteed Replacement Cost or Extended Replacement Cost endorsement. Again, we recommend you contact your hometown insurance agent and discuss the coverage amount on your home to be sure it is adequate to replace it in case of a total loss.

Contact Us!

At M. Vander Plow Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 616-396-1497 or send us a note at mvpinsagency@gmail.com. We want to help you meet your goals, and make sure what’s important to you is protected!

Categories: Uncategorized

Spring Clean Up Tips 2021

(Photo Courtesy StockVault.net)

Spring Yard Clean Up 2021

This week our local city has let us know that we can place our yard debris (no grass or leaves) at the curb for pick up. Spring has arrived and it’s time to clear out the detritus and prepare your yard for the season. We found this article from The Spruce with tips on cleaning up your yard:

  • Prune Your Perennials. There are some woody shrubs/plants that need to be cut back each spring because blooms only appear on new branches. Allowing them to remain during the winter protects the plants from damage but in the spring they need to be cut back usually a few inches above the new growth or buds on the lower stems.
  • Cut Back Your Grasses. You don’t need to wait for these plants to show any signs of new growth before trimming them. Trim them back a few inches from the ground and they will grow back when they are ready.
  • Watch the Roses. Your climate will determine how you care for your roses in the spring. If you live where roses never go dormant, a good pruning and removal of leaves is important to shock the plant into thinking it was dormant and needs to start growing again. If you live in a climate where they do go dormant, pruning should occur just as the leaf buds begin to grow larger.
  • Tidy those Evergreens. Most evergreens do not require any real care other than some trimming to tidy them up and fertilize them.
  • Yank them Weeds. Spring is a good time to tackle weeds as the ground is moist and easier to pull young weeds. Don’t compost these as their seeds can circulate within the mulch and if spread will cause them to return.

Be sure to check out the full article from The Spruce with more tips on preparing your yard this spring!

Contact Us!

At M. Vander Plow Insurance Agency, we can work with you to make sure you’ve got the coverage you need, while at the same time using all possible credits and discounts to make that coverage affordable. Just give us a call at 616-396-1497 or send us a note at mvpinsagency@gmail.com. We want to help you meet your goals, and make sure what’s important to you is protected!

Categories: Uncategorized