Are You Covered?

Written by Posted On Thursday, 07 January 2016 12:33

Homeowner's InsuranceWhat you do not know about insurance can really hurt you. Many home owners today do not know what criteria was used to establish the coverage on their policies. In fact, many not only lack financial protection for the equity in their homes, but for personal property as well.

The last thing you expect after paying homeowners’ premiums for years is that your insurance coverage is not adequate to rebuild your home in case of a total loss. And don’t think that can’t happen to you. Weather changes around the country have produced severe weather occurrences. Every day you hear about floods, tornadoes, earthquakes, hurricanes and violent wind storms causing millions of dollars of damage as well as lost lives as these weather systems race across our nation.

Inadequate insurance coverage usually happens because lenders only require home buyers to carry enough insurance to cover the value of the mortgage. Then, in the event of a catastrophe, the lender’s investment is covered. Unfortunately, this required insurance is only for the lender’s money; it does not cover the homeowner’s personal property or their equity.

Homeowner's Insurance Fine PrintWhen deciding on insurance, home owners should carry enough to cover the replacement value of the home and all its contents. The key word is replacement. As your home appreciates, so will its replacement cost, so it is a good idea to review your policy each year or two, adjusting the amount of coverage as necessary.

• A word of caution, however; do not insure for more than the value of your real and personal property, because an insurance company will not reimburse more than the replacement value of the property.

Many home owners tend to underestimate the value of their property. When calculating the replacement cost of your home, you need a professional estimate of what it would take to rebuild it at today’s cost for labor and building materials. To be adequately protected, you will want to insure your home for 100% of its replacement cost. Few home owners think about their policies until disaster strikes. It’s wiser to be proactive; get the coverage you need before you need it.

Get more Real Estate information by following me onGoogle Plus


Nancy Hankin, Realtor


Nancy Hankin

Rate this item
(0 votes)
Nancy Hankin

Looking for Paradise in CA?
Just Give Me a Call
Nancy Hankin - Palm Springs Realtor
Palm Springs CA
Direct (760) 861-5118

Old Fashioned Service Using New Fashioned Technology

I moved to beautiful Palm Springs, California to the desert, known as the Coachella Valley, from Milwaukee, WI in 1992. I wanted to be surrounded by sunshine, wonderful year-round weather and expansive mountain views. And that's exactly what I got! Now I specialize in helping others relocate and find their own special Home in Palm Springs, a true Paradise.

Most folks think of this area as Palm Springs, however, the Valley actually consists of (9) cities, each with their own personality: Palm Springs, Palm Desert, Cathedral City, Rancho Mirage, Indian Wells, La Quinta, Indio, Desert Hot Springs and Coachella.

I've been in Real Estate Sales, Marketing, Public Relations and Administrative work my entire career, which began in 1965. Being a Realtor is more than a business for me, it's a true passion and my client's interests are my main concern. I'm detail oriented, organized and I have a vast knowledge of the desert and the properties within the Valley. Unlike many Realtors who only specialize in one or two areas in Coachella Valley, I've SOLD Real Estate Properties in all of the communities of Coachella Valley.

I am more than just a Realtor. I have also been named one of less than 50,000 Realtors nationwide who is a Certified Residential Specialist (CRS) and  one of less than 15,000 Realtors nationwide who is a Senior Real Estate Specialist (SRES).  I am also a Real Estate Broker and e-Pro Certified, which means that I have an excellent understanding of technology as it applies to real estate on the Internet.

Due to my extraordinary production with RE/MAX over the years, I have achieved many top honors. I am a member of the Prestigious 100% Club, the Platinum Club and a Hall of Fame Member. Only 10% of the Realtors with RE/MAX in the California/Hawaii Region have earned this Platinum Club recognition.

Many of my clients are now friends, and they have referred both their family and friends to me. They know I'll take very good care of them from the beginning of our relationship, to after it's closed, and beyond that! I don't go away. I'm always available and eager to help in any way I can - before, during and after the sale! And to all those who continue to Refer Clients to me, a great deal of my work is from folks just like you, and it's greatly appreciated.


  • Majored in Journalism at the University of Wisconsin-Milwaukee with an emphasis on Sales, Public Relations and Marketing
  • Completed Courses in Real Estate Principles, Property Management, Office Administration, Agency and Ethics, Fair Housing, Trust Accounts, Real Estate Practice, Basic Appraisals and Real Estate Appraisals, Real Estate Finance and Real Estate Economics.
  • Completed courses in Sales, Sales Management and Board Development; Organizational Strategic Planning, Management Training and Fund Raising

My children, grandchildren, golfing, reading, writing, bridge, socializing....and trying to make a more positive difference in the world we live in.

Specializing In:
California Vacation Homes, Relocation, Retirement Homes & Communities, New Home Sales, Golf Course Communities, Single Family Homes, Condominiums, Estates, Ranches, Land Sales.


  • CRS
  • e-PRO®
  • SRES

Nancy Hankin

(760) 861-5118

Request More Info

Agent Resource

Limited time offer - 50% off - click here

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.