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Don't Forget to Review Homeowners Insurance


A home equity loan is a great way to get funds to add on or improve your current home. Once the construction is complete – or, in fact, while construction is underway – make sure you review your current homeowner’s policy and adjust your coverage to reflect the new value of your home.

Most policies provide either a fixed amount or “replacement” coverage. (Just like it sounds, replacement coverage is designed to pay the amount required to replace your home if it is damaged or destroyed.) In either case, make sure your policy covers the current value of your home, and not just the “old” value. If disaster strikes, your insurance may be the only protection you have – when you refinance to make improvements, make sure you have the protection you need.

Personal – Homebuying and Refinancing

Ready to explore how Sunflower Bank can assist you? Speak to a personal banker at a branch near you, contact a specialist on our Wealth Management team, or find the right financial partner on our Commercial Banking team for your business needs. 

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This article contains general information only. Sunflower Bank is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.