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How Much Homeowner’s Insurance Do I Need?

How much homeowner’s insurance do I need? Unsure about how much homeowners insurance you need? If disaster strikes, are you prepared to rebuild your home? What about your belongings? Before you commit to a homeowner’s insurance policy, think about these questions to help you figure out the right amount of coverage for your home.

Your Home’s Structure

Imagine that a disaster strikes and takes out your entire home. How much would it cost to rebuild the structure? While we hope this never happens, it’s important to be prepared! Some factors that can affect the cost of rebuilding a home include:

  • Location
  • Size and square footage of the home
  • Local construction costs

In addition to these factors, things like the type of exterior, the style of the house, number of rooms, and more can all attribute to the total cost. 

Call us at 413.475.7283
Complete our online quote form today

Updates to Your Home

You should also think about the age of your home and whether that may require some updates. In some cases, if your home is particularly old or does not meet code, you may need to do some updates. Consider these costs when thinking about how much homeowner’s insurance do I need?

You should also think about things like:

  • The increasing cost of raw materials
  • Features that are difficult to replace 
  • Additional features 

Personal Property Coverage

Personal property coverage refers to the home insurance coverage for the things inside of your home. Most homeowners insurance policies provide coverage to your belongings but talk to your agent to see if you’ll have enough coverage. A great way to do that is through a home inventory. This is a document of all your possessions to help you figure out how the value of your things and how much coverage you may need.

Learn more about how to create a home inventory.

Expensive Items

You may have some items in your home that need some additional coverage. Things like jewelry and fine art may not be fully protected with your homeowners insurance policy because they are high in value. Talk to your agent about getting additional coverage for these items. Coverage can vary depending on your insurance provider, so talk to your agent about how to best protect your valuable possessions.

Liability Coverage

When asking How much homeowner’s insurance do I need?, you can’t forget about liability insurance. This is courage to help protect against lawsuits for bodily injury or property damage. It can also include damage caused by a pet. While most homeowners insurance policies have some liability coverage, check with your agent to make sure that it’s enough. 

Learn about homeowners insurance and your pets!

Call us at 413.475.7283
Complete our online quote form today

Umbrella Policy

An umbrella policy or excess liability policy is like a safety net. They provide coverage above your standard policy limits and can help cover some additional loss. Talk to your agent to see if an umbrella policy would make sense. The cost can vary depending on how much coverage you get and how risky your situation is. 

When it comes to figuring out how much coverage to get, think about this: Would you feel comfortable if you experienced a total loss and had to re-build your entire home. Insurance is there for when things go wrong. It’s best to talk to an Encharter agent about the amount of homeowners insurance coverage you need and the financial options that make sense for your life. Each situation is different. An Encharter agent can help you with all your insurance questions and concerns!

Chat with an Encharter agent today about homeowners insurance in MA:
413.475.7283
Complete our online quote form

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