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. 

Buying a home is the first milestone purchase for an individual or couple looking to expand their horizon. Often, choices of this nature are based on the current state of your finances. However, once you begin the process of purchasing a home, there are certain things you need to know before moving forward. Let Storey Insurance in Seantobia, MS help you with your questions.

First, you must understand how important home insurance is to protect your new investment against damage and theft. Most mortgage companies require lendees to have some form of home insurance, and proof must be verified before the home goes through escrow. If not, then the transaction could be canceled or delayed. 

What Home Insurance Provides

A standard home insurance policy will cover all cost-related damage to the interior and exterior of your home. Homeowners will be compensated for all repairs done to the house from damage caused by fire, hail, lightning, and other disasters covered by the policy. However, any damage done by flooding, earthquakes, or poor maintenance isn’t covered by a standard home insurance policy. If you want protection from these types of disasters, then you need to have separate coverage for your home and other assets.

Liability Coverage is Important to Protect Yourself

Liability coverage is an essential item that must be included in a standard home insurance policy. It protects homeowners from being sued by others. Often, the lawsuit centers on gaining financial compensation for injuries sustained inside the home or caused by the homeowner or one of their family members. The compensation includes paying for all of the party’s medical expenses, pain and suffering, or lost wages due to their injuries. Also, a victim could seek some form of compensation if their personal property was damaged or broken during their stay at your home. 

Storey Insurance in Seantobia, MS prides itself on providing the latest information available on home insurance. Come in and speak with a staff member as they can personalize a home insurance policy that meets your needs.