Insurance, of any kind, is set up to keep you and your family safe. The goal is never to have to use the insurance, but that’s not always in our power. Nature is going to happen whether we want it to or not, as well as accidents. Nothing is worse than your home catching fire or its subject to natural disaster damage, causing you to become homeless in minutes. Homeowners insurance can ease that burden.
How much insurance should you take out?
The cost of your insurance should exceed the value of the house. This will cover the house itself as well as the cost of rebuilding the home.
What is Guaranteed Replacement Cost Coverage?
Guaranteed Replacement Cost is a policy that will pay for the full cost of rebuilding your house to the specifications and size it was. This doesn’t mean you’ll be able to get a bigger house or a complete makeover, but it will restore parts like the hardwood and the granite countertops without hesitation.
What policy should you get?
There’s isn’t one policy superior to another one. It comes down to the area, style of the home, age of the house, what you’re willing to pay for your insurance and much more. Some of the choices you have but are certainly not limited to would be:
- Actual cash value
- Replacement Cost
- Extended Replacement Cost
What’s your next step?
Whether you’re buying a new home or you’re looking to get insurance on your current home, the next step is to give us a call today! One of our agents will discuss everything about your home, your financial situation, what’s the best solution for you, and much more. Our job is to make sure you and your family are safe. Give us a call today!