After purchasing a property, protecting your space and personal belongings is important. Having the right coverage in the case of emergencies can offer financial peace of mind. This article provides a brief guide for choosing homeowners insurance to protect your space.
Calculating the total cost of your home and assets helps in choosing the appropriate amount of coverage. The coverage limits should be enough to rebuild your home and replace personal items if needed.
Insurance companies use a calculator to figure out the total worth of your home. From there, most offer around 50% of that amount to cover personal belongings.
There are many types of homeowners insurance. Some offer personal property coverage and liability coverage. Others are very limited and only offer enough coverage for the structure of a property.
An HO-3 is the most common type of homeowners insurance. It offers liability insurance, dwellings coverage, funding for personal property and more.
Having additional living expenses coverage secures your well-being if you’re displaced from your home as it’s getting repaired. For example, if a fire damages your home, repairs may take a while. Additional living expenses coverage would pay for you to stay in a rental.
The right insurance company will offer policies covering all of your property. Speaking with a local lender can help you explore different coverage options.
A home is not a home because of its room dimensions or the color of the walls. It is about how you feel when you walk through the front door and the way you can instantly envision your life unfolding there. This is about more than real estate. It is about your life and your dreams.
You deserve to be represented by a professional who knows the local market, cares, puts you first, communicates and negotiates well, is knowledgeable, competent, honest and accessible!
