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Hi! My name is Brian Stevens. I am a former Insurance Agent and Financial Consultant and I want to show you what homeowners’ insurance covers and how much insurance you should have. Homeowners’ insurance covers your home and your personal property such as clothing, furniture and appliances in the event of a fire, storm, explosion, vandalism or burglary.
It also protects you and your family against liability law suits. To figure out how much insurance you need to cover your home ask a local builder or realtor with the square foot building cause in your neighborhood are, and then multiply that figure times your home square footage. As an example if it causes a $175 per square foot to build a home in your neighborhood and your home is 1800 square feet. You should insure your home for $315,000.
If you have an older home or a custom home can instructed of different material than the standard homes in your neighborhood. Get a contractor to give you an estimate of what it would cost to rebuild your home. If you live in a flood prone, hurricane prone area, or the country you nee to get flood or hurricane insurance, because standard homeowners policy do not cover damages cost by flooding or hurricane.
Many policies only pay for the depreciated value or of the personal property and not the actual value. So make sure your policy pays for the full replacement value of your property. Homeowners’ policies limit coverage on expensive items, like jewelry, furs and works of art. So you will need to get a special endorsement known as a writer to insure these items.
Many policies are for minimum coverage for reliability insurance. Usually a $100,000 if you do not have a lot of assets to losing a law suit that is fine, if you have a substantial amount of assets, you can increase your coverage or but an umbrella liability policy. It only cost about $50 a year to increase your coverage from a hundred thousand to $500,000. The best way to get homeowners insurance is to comparison shop and the easiest way to do that is to get quotes from an insurance comparison website. It is quick, it is easy and it is free.
Visit lowerratesquotes.com to get home owners’ insurance quotes from top rated companies and see how much you can save. If you are in YouTube of meta café you can click on the lower right quotes link to the right or the bottom of this video. You can get more tips and advice in there article section and get answers to your questions, plus get tips on how to lower your premium from an insurance expert by using your online chat service.
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