Homeowners Insurance Advice – What you Should Know

Homeowners Insurance Advice – What you Should Know

Homeowners insurance protects your home and your personal property from loss. Here is homeowners insurance advice for any homeowner looking to save on their homeowners insurance without sacrificing necessary protection.

Buy the Right Amount of Insurance

Your homeowners insurance policy includes coverage for:

* Your home

* Your personal property

* Your assets

Your home – For your home, you need enough insurance to pay for rebuilding your home at current construction costs. To estimate this amount, multiply the square footage of your home by the building cost per square foot in your neighborhood. Do not include the cost of your land as you figure out your property coverage limit.

Your personal property – Your personal property limit is usually half of the property limit. To determine if this is enough, list everything you own and how much it would cost to replace. Also note that some types of personal property, such as jewelry, silverware, or computers, are only covered up to specified limits. Ask your insurance professional what types of personal property have specific limits so you can buy more coverage for these items if you need it.

Your assets – Personal liability coverage protects you if someone is injured while on your property. You should have enough liability insurance to protect your assets –