It is a good idea to block out some time and call your insurance agent to assess the health of your homeowners insurance. Here are some questions to facilitate your discussion:
Which coverage do I have? Find out whether you have replacement cost coverage, extended replacement cost coverage, or actual cash value coverage and review your policy’s specific limits.
How much do I really need? Establish how much coverage you truly require. Knowing what you would need to pay to rebuild your home from scratch and replace personal property is key to determining this number.
How can I lower my premiums? Discuss how you can receive discounts for simply belonging to certain groups, bundling insurance policies, and/or making specific upgrades to your home.
