As home values across coastal North Carolina continue to rise, many homeowners are realizing something important: the cost to rebuild a home has increased too. Materials, labor, and even local building codes have changed dramatically over the years. Yet, too often, home insurance coverage limits remain the same as they were when the policy was first written.
For retirees like you, who’ve spent years building stability and comfort, this gap can create unnecessary financial risk. Let’s take a closer look at why keeping your home insurance updated is essential, and how Wells Insurance can help you stay protected with confidence.
If you’ve owned your home for more than a few years, the value of that property has likely gone up. But your home insurance coverage limits, the maximum amount your insurer will pay to repair or rebuild—don’t automatically adjust unless you review them.
What’s changed:
Rising construction costs: Lumber, roofing, and skilled labor costs have all surged in recent years.
Home improvements: Renovations, additions, or even updated kitchens and bathrooms increase your home’s replacement value.
Updated building codes: If your home needs to meet new local standards, rebuilding could cost more than before.
Without regular reviews, your current coverage may not reflect your home’s true value today.
Imagine your home sustains major storm damage and needs significant rebuilding. If your insurance policy is based on outdated limits, you may be responsible for covering the difference out of pocket.
Even being underinsured by 15–20% could mean thousands of dollars in unexpected expenses. For retirees on a fixed income, that can disrupt the financial security you’ve worked so hard to maintain.
A good rule of thumb is to review your home insurance every year, or anytime your circumstances change. That includes:
Home renovations or upgrades
The addition of a detached structure, like a workshop or garage
Major regional property value increases
Shifts in local rebuilding costs
At Wells Insurance, we take time to walk you through these updates clearly and calmly, helping you understand how coverage changes affect your protection and peace of mind.
For retirees, stability and predictability matter. You’ve worked hard to create a life that’s comfortable, and your home insurance should match that effort.
We review your coverage limits to make sure they align with your home’s current value.
We explain your policy in plain language, so you know exactly what’s protected.
We adjust for inflation and rebuilding costs, ensuring you’re prepared for the unexpected.
It’s not about selling more coverage, it’s about making sure your protection keeps up with reality.
When you work with Wells Insurance, you’re not just getting a policy, you’re gaining a partner who understands coastal living, changing property values, and the importance of protecting what you’ve built.
If you’re unsure whether your home insurance coverage limits still match today’s costs, let’s review your policy together. We’ll help ensure that your coverage grows with your home, giving you the confidence that comes with knowing you’re truly protected.
Contact Wells Insurance today to schedule your personalized policy review and to learn more about protecting your home. Because your home, and your peace of mind, deserve protection that keeps up with the times.