Is Your Home Insurance Enough? Here’s How to Know.
Living in Nevada comes with a lot of perks such as sunshine, growth, beautiful desert landscapes, and booming communities. But it also comes with unique risks that can impact whether your home insurance is truly enough.
With rising construction costs across the state and increased wildfire exposure in many areas, many Nevada homeowners are unknowingly underinsured.
Here’s how to make sure your coverage actually protects your home and everything inside it.
1. Does Your Coverage Reflect Nevada’s Current Rebuild Costs?
Your dwelling coverage should reflect the cost to rebuild your home in Nevada today. Not what you paid for it and not its current market value.
Across cities like Las Vegas, Reno, and Henderson, construction costs have risen due to:
- Labor shortages
- Increased material costs
- Population growth
- Updated building codes
After regional wildfires or wind events, rebuilding costs can spike even higher due to demand.
Ask Yourself:
If your home were a total loss tomorrow, would your policy rebuild it exactly as it stands today?
If you’re unsure, your dwelling limit likely needs a review.
2. Are You Protected Against Nevada Wildfire Risk?
Wildfire risk has increased across parts of Nevada, especially in Northern Nevada and areas near open desert land.
Standard homeowners insurance typically covers fire damage but:
- Are your limits high enough?
- Do you have extended replacement cost coverage?
- Has your insurer updated your risk rating recently?
In wildfire-prone areas, underinsurance can become financially devastating if rebuild costs surge after a major event.
3. Do You Have Enough Coverage for Everything Inside Your Home?
Most Nevada policies automatically include personal property coverage, often 50–70% of your dwelling limit.
But think about everything inside your home:
- Furniture
- Electronics
- Clothing
- Appliances
- Jewelry
- Tools
- Outdoor equipment
Replacing everything at once after a fire or major loss is far more expensive than most homeowners realize.
Pro Tip:
Do a video walkthrough of your home. Open drawers and closets. Document high-value items.
Also check for special limits on:
- Jewelry
- Firearms
- Collectibles
- Business equipment (if you work from home)
Many of these items require additional endorsements to be fully covered.
4. Replacement Cost vs. Actual Cash Value (This Matters More Than You Think)
Some policies in Nevada still include Actual Cash Value coverage for personal property, meaning depreciation is deducted.
Example:
A 6-year-old couch that cost $2,000 may only pay out a few hundred dollars after depreciation.
You want:
Replacement Cost on the dwelling
Replacement Cost on personal property
Without it, you could pay significantly out of pocket after a claim.
5. Flood Coverage: A Major Nevada Misconception
Many Nevada homeowners assume flooding isn’t a concern because we live in the desert.
But Nevada experiences:
- Flash floods
- Monsoon storms
- Sudden heavy rainfall
Standard homeowners insurance does not cover flood damage.
If your property is in a flood-prone area, especially in parts of Las Vegas or low-lying desert communities, you may need a separate flood policy.
6. Is Your Liability Coverage High Enough?
Nevada is a growing state with increasing property values. If someone is injured on your property, liability coverage protects you from lawsuits and medical expenses.
Most policies start at $100,000.
Many professionals recommend at least $300,000–$500,000 especially if you have:
- A pool
- Pets
- Rental properties
- Frequent guests
An umbrella policy can provide additional protection at a relatively low cost.
Signs You Might Be Underinsured in Nevada
- Your policy hasn’t been reviewed in 2+ years
- You’ve renovated or upgraded your home
- You purchased high-value electronics or jewelry
- Construction costs in your area have risen
- You’re unsure what your rebuild cost actually is
The Bottom Line for Nevada Homeowners
Home insurance isn’t about checking a box, it’s about financial protection.
With rising rebuild costs, wildfire exposure, and flash flood risks, Nevada homeowners should review their coverage annually to make sure it truly reflects today’s risks and replacement values.
A quick review today could prevent a financial disaster tomorrow.
Call or Text Feliciano Jiron Insurance Agency at (702)522-0079 to talk to a Licenced Insurance Agent about your Home Coverage!