Home Insurance How Much Do You Need

Home Insurance How Much Do You Need

As a buyers agent in the Raleigh / Cary / Wake Forest market, one of the often overlooked parts of the buying process is getting homeowners insurance.  Insurance professionals can help you with setting up everything for your new home but what if you are remodeling or purchasing all new furniture, should you be considering changing your insurance coverage?
Here are 4 helpful things you need to consider for your home insurance:
1- Replacement Cost  -  your insurance should be able to replace the home if destroyed at current construction costs.  This can be very different from the purchase price, especially if you have made any additions, remodeled or replaced windows
2- Living Expenses - If the home is damaged, during the repair period, the home owner may incur some added costs (hotel bill, rent, meals,......).  Make sure you have enough coverage.
3- Personal Property - Take an inventory of all that you own and what it would take to replace it.  For expensive items such as artwork, jewelry or antiques, then a possible rider may be needed for your police to cover them.
4- Personal Liability - In the event of damage caused by the homeowner, a family member or their pet caused damage or injuty to another person then this coverage may protect the home owner and reimburse for legal or court costs.
Contact your local insurance provider if you have questions about your policy and want to make sure you have adequate coverage.




Chad Wingler Headshot
Author:
Phone: 919-323-2616
Dated: July 6th 2014
Views: 3,847
About Chad: Buying a new house is one of the largest steps a person makes in their life; emotionally, physically...

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