CALL US:
651.633.0408
deanolson@aibme.com


Winter 2017 Newsletter
 

 

Dean Olson

3570 Lexington Ave N #201
Shoreview, MN 55126

651-633-0408 | deanolson@aibme.com 

deanolsonins.com

 

 
 

 

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Imagine how devastating it would be to lose your home in a fire. Now imagine not being able to rebuild it completely because you didn't have the correct amount of insurance.

 

Selecting the proper amount of coverage is the single most important decision you can make with your Homeowners policy. Without it, you may not have enough coverage to rebuild after a total loss. This is called "insurance to value." Below are some explanations and tips to help you make the right choices for your needs - and remember, if you need help, I'm just a phone call away!

 

What is insurance to value?

Insurance to value is the relationship between the amount of coverage selected (typically listed as "Coverage A" or "Dwelling Coverage" on your policy declarations page) and the amount required to rebuild your home.  Insuring your home for anything less than 100% insurance to value could mean you wouldn't have enough coverage to replace your home in the event of a total loss.

 

Why is the cost to rebuild different from the market value?

A home's market value reflects current economic conditions, taxes, school districts, the value of the land and location, and other factors unrelated to construction cost.  The cost to rebuild your home is based only on the cost of materials and labor in your area.  It is important that you insure your home based on its reconstruction cost, NOT its current market value.

 

Why is reconstruction more expensive than new construction?

New-home builders typically build many homes at once, and solicit bids from various sub-contractors to receive the best pricing. Their business model is based on economies of scale. For example, they may purchase 20 bathtubs at once, securing a lower unit cost. These economies of scale don't exist when building a single home.

 

How can I make sure I have the correct amount of insurance?

Work with your agent to provide detailed information at the time of purchase to be sure that you receive a thorough and accurate quote. 

Ask us about additional coverage options that may be available.

Review your insurance to value calculation on a regular basis with your agent.

Tell your agent about any changes or improvements that you make to your home. 


 

 

With winter weather upon us, it's important to check the fluids in your vehicle. Learn the basics with this short video from Progressive.

We'd be honored to work with your friend or family member. If you know anyone that needs an independent agent on their side, please have them contact us, or send us their info

 

 

 

 

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 Dean Olson
 651-633-0408

The greatest compliment is a referral. If you know someone who could benefit from my services, please send me their information or have them contact me.
 

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Our Location

Dean Olson Insurance Agency

3570 Lexington Ave North Suite 201
Shoreview, MN 55126
Main office: 651-633-0408

Our Providers

Accommodating, professional, helpful, and quick. Very comfortable experience and I was impressed by their capabilities. Highly recommended.
Brad M.
I feel lucky to have found an agent willing to provide this level of service. No need to look anywhere else!
Michelle D.
Over the years we’ve never once had to worry about our coverage. My husband and I are long-time customers and proud to be.
Carol S.
Surprisingly flexible and in-touch with my needs as a small business owner. Can’t ask for more.
Spencer F.
They have strong ties with the community, and it shows. It’s nice to do business with people that really show they care about you and your family.
Susan T.