One of the questions we are asked most often in our position as the number one company for Homeowners Insurance West Palm Beach is-
How much homeowners insurance do I need?
Although there isn’t a one word answer to this question it is something that can be worked out if you look at all the factors that influence that total amount. Here is our guide to working out how much homeowners insurance you might need.
The structure of your home
If the worst were to happen then you would need to pay for a builder to completely rebuild your home. If your home is wiped out by something like these-
Then you will need a complete rebuild. Many people only have their home insurance to cover their mortgage amount (which is what you lender will insist on) but this will leave you short if your home is destroyed. You need to consider how much it will cost to rebuild your home at current prices.
You need to look at factors that will influence this, such as –
As the premier Homeowners Insurance West Palm Beach company, we will help you to make sure that you are covered should the worst happen. Speak to us and we can help you to estimate the cost of rebuilding your home from scratch.
Your personal possessions
As well as the building, you have a lot of stuff in your one. The memories and heirlooms cannot be replaced in emotional value should your home be destroyed or damaged but the monetary value needs to be taken into account. Think about how much your furniture costs to buy, add in your technology and then think about your jewelry. The value of your possessions in each room in the home adds up pretty quickly. We find that many people underestimate the value of their possessions, leaving them underinsured. Don’t be in this situation – make sure that you have a good idea of what is in your home.
We recommend keeping an inventory of your possessions on cloud storage someplace so that you can easily access this information if the worst were to happen.
Your living expenses if you had to stay somewhere
One area that people overlook when insuring their home is that if it was in need of renovation or rebuild then they would need somewhere else to stay while this was happening. Make sure that you assess the cost of you and your family having somewhere to live if your home was uninhabitable.
As the leading choice for Homeowners Insurance West Palm Beach we help you with all of this. Come and speak to us and we can make sure that you have all the cover you need for your homeowners insurance.