Chances are pretty high that your home is going to be your most expensive and valuable asset in your repertoire. Consequently, you need to ensure that you have enough homeowners insurance to protect the entirety of the home in case an accident or natural disaster happens. Keep in mind, that you are not legally required by the state to have homeowners insurance; however, if you have financed your home it is likely a requirement from the mortgage lender. Even if you have bought your home outright and do not have a mortgage, having insurance should be a no brainer because it can help pay for costly repairs to your house.
When deciding how much homeowners insurance to purchase, you’ll want to start by determining the replacement value of your house. What this means is, determining how much would it cost to rebuild your house to the same condition it is today if something happens to it. Many insurance companies will offer homeowners the opportunity to purchase extended replacement cost coverage which helps protect you if the cost to build in your area experiences a spike because of increased demand or trouble obtaining materials. In addition to dwelling coverage, be sure to have proper liability insurance which pays for lawsuit judgments and settlements against you in cases where you’re sued for injuries at your property or damage claims. As an example, $100,000 may sound like a lot of coverage, but if you are sued for a greater amount than you’ll be on the hook for the difference.
When it comes to finding the perfect homeowners policy in Overland Park, KS, look no further than HighPointe Insurance Services LLC where our talented team of professionals are ready to help customize the perfect policy for your needs.
