Real estate is booming along the Front Range of the Rockies. No one knows that better than the folks who are looking to rent or purchase a new home. In the brave new world of the hot Denver real estate market, home prices are at an all-time high, according to the Denver Business Journal. The Denver Office of Economic Development recently noted that the metro area market was one of the strongest in the nation, based on price appreciation and overall value.
The result? Renters and buyers alike are seeing available properties disappear in less than 24 hours, and they’re finding themselves in bidding wars that go well beyond the asking prices. So if you do land that perfect contract, it’s natural to think that the lion’s share of the work is behind you.
This is the perfect time to assess your personal property coverage, that portion of your homeowners or renters insurance policy that will help protect you if that property is lost, stolen or damaged. As you pack, make a home inventory, a detailed list of all your stuff and what it’s worth. For starters, what’s your computer worth? How about that engagement ring, or the camping gear and kayaks in the garage? Once you know the value of your belongings, talk to your agent to see whether your current homeowners insurance coverage is enough to cover all your possessions.
Check out these helpful hints on taking inventory, assessing value and determining the coverage that will meet your needs.