Raybyrnes, I wasn’t trying to say that your home insurance will cover things like jewelry, gun collection, etc. There are special insurance specifically for those things.
All the companies I got quotes from have coverage of 125%-150% of the insured value. However, this is based on a simple rebuild in ordinary time. What if labor cost went up and/or you need to get new permits to get your house up to code? There are many things about a rebuild that I do no know about. I’m just not comfortable in leaving it to chance. Are you trying to say one can’t be under insured? If so, how come I hear so many horror stories every time there’s a major fire?
Before AAA accepted to insure my place, an agent came out and took pictures of everything for record. AAA also end up being cheaper than the rest. So, getting better coverage at a cheaper price sounds like a no brainer to me.
I totally concur with your suggestion though. If you upgrade your house, make sure to take pictures and let your agent know.
