How to Determine How Much Home Owner’s Insurance You Need

Homeowner’s insurance is something that every lender requires you to have when you buy a home. It also protects your valuable investment from catastrophic damage and allows for repairs that you simply wouldn’t be able to pay for out of pocket. However, figuring out how much home owner’s insurance you really need can be a little tricky. Use these tips from Schumacher Insurance Agency to calculate exactly how much you need to protect your valuable possessions and your home for damage.

Schumacher Insurance Agency

Source: Free Digital Photos

  • Take a look at different standard policies and see how much coverage they offer. For modest homes without tons of valuables in the house, you may have more than enough coverage with a simple minimum level. There’s no reason to pay for more than what you need.
  • Consider the area that you live in. If you live in an area where there are natural disasters that can easily tear down your home – this is especially important if you live near the ocean or on a fault line, for example – you may want to look at extended coverage plans. These will help you get 125% of your home’s current market value if a catastrophe happens. However, this will raise your premium in most cases.
  • Have an appraisal of what is inside your home. The items inside your home need to be covered by homeowners insurance – except in the case of particularly valuable pieces like antiques or art, which should be insured separately. However, a whole home full of furniture could easily leave you in serious debt if it all gets destroyed.
  • Get an appraisal on your house every few years. Staying on top of your property value will help you reevaluate how much insurance you really need.

Contact Schumacher Insurance Agency for more information.

Advertisements

About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on May 8, 2014, in Agency, Uncategorized and tagged , , , . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: