One of the most important distinctions you’ll need to know as a homeowner is the difference between replacement cost and market value. Why? Because if you insure your home based on its market value — i.e., its selling price — you may be insuring it for just a fraction of what it would cost to rebuild. A replacement cost takes into account many of the same factors as the market value — age, size, condition and location — but adds in other factors such as debris removal, contractors’ fees and architects’ fees. For more information on insuring your home at its replacement cost, contact your professional independent agent.

FocusWestern National’s Policyholder Newsletter - Issue 3.1 The Relationship Company ®

Going Green: Back to the Basics

Homeowners’/Renters’Edition

Maybe you’re not quite ready to outfit the roof with solar panels, but you still want to do your part to be green around your home. By sticking to some basics of green living, you can still significantly reduce your carbon footprint.

For instance, simply turning off the lights when you’re not using them, installing energy efficient bulbs and appliances, and making sure your home is well-insulated can have a major impact on your energy efficiency (not to mention your utility bills). Plus, by remembering your three “R”s — reduce, reuse and recycle — you’ll minimize unnecessary waste, manufacturing costs and transportation costs. For being “simple,” these ideas really do add up to make a big difference!

Home InventoryMade Easy

If you’ve been living in your home for several years, the thought of taking inventory of all your personal

possessions may seem daunting. However, if disaster strikes, having a room-by-room inventory can make the restoration process quicker and much more stress-free.

The Insurance Information Institute now offers freehome inventory software for download at

www.KnowYourStuff.org. Check it out —it makes taking inventory fun and easy,

and it can give you peace of mindat a time when you might

need it most.

Replacement Costvs.Market Value