Figuring Out How Much Home Insurance You Need

One of the main misconceptions of home insurance in Seantobia, MS is how much you need. You don’t need coverage for the home’s market value. Instead, you should have enough to be able to put the same house on the land if there is a total loss. Being underinsured can mean you lose your home and one of your most significant investments in the event of a disaster. 

For your dwelling coverage, you should make sure that you have the replacement cost. This is the amount of money it takes to build a replica of your home. To calculate your replacement cost, you should have an idea of local construction costs. You can ask your agent at Storey Insurance to help you look up these costs. Some free online calculators can give you a replacement cost estimate. An expert independent agent can also give you an estimate. Different factors will affect your replacement cost in Seantobia, MS. If you have done any remodeling or have added structures or additional rooms, you need to keep this in mind. Also, pay attention to new building codes that were implemented after your home was initially built since this can also increase construction costs. 

In order to determine how much personal property coverage you need, do a home inventory. If you have more expensive items, you want to make sure that your insurance will cover these items. It can be easy to underestimate what you own, so it’s important to start making a list.

Many policies will come with a minimum of $100,000 in liability coverage. You should have more if you can afford it since liability covers a lot of different accidents. Having certain breeds of dogs can also increase your liability risk.

Contact Storey Insurance to get a quote on home insurance.