Commonly Asked Questions
How Much Home Insurance Do I Need?
- Property Protection: The better your coverage, the less you will have to pay out of your own pocket if disaster strikes.
- Self Protection: You need enough liability coverage to protect yourself from lawsuits resulting from your negligence.
- Lender Requirements: Your lender may require you to cover the house for at least the amount of the mortgage. This may be either too little or too much coverage for your individual circumstances. For example, you needn’t buy fire coverage for the lot on which your house is built. You are not required to purchase insurance from the insurer recommended by your lender.
- Policy Requirements: Insurers may impose some coverage requirements for replacement cost protection (Click HERE for more Information (Basic Coverage Available).
What Affects Home Insurance Prices?
Type of Construction: Frame houses usually cost more to insure than brick.
Age of House: New homes may qualify for discounts with some insurers. Some insurance companies either may not insure very old homes or offer a limited form of coverage.
Local Fire Protection: Your home’s distance from a fire hydrant and the quality of your local fire department determine your fire protection class.
What Deductible Should I Choose?
- The deductible applies only to coverage on your house and personal property. It is the amount you have to pay out of pocket on each claim.
- A policy with $ 100 deductible will cost more than one with $250 deductible. Higher deductibles may be available at a reduced price.