Home Insurance Policy,
Home Insurance
Your home is a major asset that needs to be insured properly to protect your investment. Our responsibility is to educate you on the coverage's and limits you need so you’ll be protected when you need it most.
When looking at your homeowners policy, there are some important questions to ask to ensure you have the proper coverage:
- What is the value of my property? The right limit here is not what your home is worth, but rather the cost associated with rebuilding your home. With a soft housing market, reconstruction cost may be higher than market value.
- What is the value of my personal property? Putting an accurate limit on all of your personal property can be challenging. We can help you assess the proper limit to make sure all your belongings are fully covered.
- How much liability protection do I need? Calculating the right limit for liability protection can be challenging as well. Ideally, it should be enough to protect all of your assets, but there are situations where you may need a higher limit.
- Do I have any unique or valuable items? Items like jewelry and antiques often require additional coverage to ensure they are properly protected. We can help you insure them correctly.
Please contact our office to discuss any of these coverage options or any other questions you may have regarding your home. Or, if you would like, you can request a quote by clicking the call now button.
Home and Auto Carriers
What Is Not Covered by Dwelling Insurance?
A typical homeowners insurance policy does not help cover flood damage...
That’s why you may need a flood policy to keep your home protected in case of water damage. It also won’t cover earthquakes or property that’s detached from your home.
However, we offer other coverages to help protect your entire property. Some of these are:
- Other Structures Coverage
- Personal Property Coverage
- Personal Liability Insurance Coverage
How Much Dwelling Coverage Do I Need?
We’re often asked, “how much homeowners insurance do I need?” And, honestly, the amount varies from homeowner to homeowner. To make sure you have the right insurance to cover your home, you’ll want to choose the amount that would allow you to rebuild and replace 100% of it if it’s ever destroyed by a covered loss.
Another benefit of having 100% replacement cost coverage is that if your home is a complete loss, you’re eligible for additional coverage on top of what it’s insured for. The full replacement cost coverage option pays the whole price of rebuilding your home, if it’s a total loss, up to 125% of your policy limits. There is also an option providing up to 150% of coverage limits depending where you live.
When considering the cost to replace your home, don’t mistake it for the market value of your house. We can help you determine your home’s market value vs. replacement cost. The market value is what a buyer is willing to pay for your home and land in its current condition. Your home’s market value is also impacted by factors outside of your property like your:
- Location
- School system quality
- Distance from emergency services
- Distance to stores,
- restaurants and entertainment
- Local housing market
Your home’s replacement cost is the amount it would cost to rebuild your house on the existing property with materials of similar kind and quality. The cost of rebuilding your home usually includes materials needed to rebuild the physical structure, like your:
- Walls
- Ceilings
- Floors
- Windows
- Doors
- Roof
- Mechanical and electrical systems
This total also includes the costs of:
- Construction labor
- Clean-up
- Debris removal
