Providing Insurance in Minnesota Since 1977
	Bob Meyer and his Staff Provide Insurance for Lakeville, Farmington, Eagan, Apple Valley, Burnsville, and the Greater Minneapolis/St. Paul Area of MN. 952.469.0414

Miller-Hartwig Insurance, 20960 Holyoke Avenue, P.O. Box 1177, Lakeville, MN 55044

Homeowners Insurance

What is Guaranteed Replacement Coverage and Why Should You Care?

Guaranteed Replacement Coverage is a policy provision in some homeowner policies which GUARANTEES replacement of the dwelling in the event of a total loss. This guarantee is of course subject to certain limitations, ie. you modify your home which increases the value by more than a specified amount, such as $5000, the guarantee may be voided. It is a requirement that the policyholder notifies their insurance company or agent and increase their coverage to the full estimated replacement cost prior to making substantial changes to their home.

A problem for many homeowners is having purchased a low cost or cut rate homeowners policy without GUARANTEED replacement coverage. Those policies may say "Replacement Cost" or "limited replacement cost", but does that mean the same as "GUARANTEED replacement cost"? ABSOLUTELY NOT!

Read your policy...or call us to find out if you have Guaranteed Replacement Coverage.

Most insurance companies today have homeowners policies which will pay to replace your home up to the policy limit or up to a "cap" of 120 or 125 percent of the dwelling amount.

What happens if your home is totally destroyed, the cost to replace your home is $300,000, but you are insured for only $200,000.

Without the "GUARANTEE", you will likely receive only $240,000, less your deductible, if your policy has 120% cap. That leaves you short $60,000.

SOLUTION:
Call us for a package home and auto quote with a company which will Guarantee the Replacement of your home.
Call Bob Meyer 952-469-0414 or Ann Jacobs at 952-469-0412 to learn more or to schedule an appointment.
To learn more about homeowners insurance click on the links below.

*Learn About Homeowners insurance

*Auto Owners Home Insurance

We represent many quality home insurers, three which provide Guaranteed Replacement Cost Coverage and at affordable prices.

Give us a call today at 952-469-0414 or click on the link below.
Get a home quote!

AGENT'S LICENSE # 609100 Licensed in MN.

Note: As stated in our "Terms of Service" (TOS) agreement, descriptions of insurance coverage on this web site are for informational purposes only and may not apply, or be included on your policy. Please contact us to confirm coverage provided on your insurance policy or policies you are contemplating purchasing.