Home Insurance Policies protect your home for disasters such as damage due to fire, lightning, hail and explosions.
Those who live in areas where there is high flood or earthquake risk will need separate insurance policies for those types of disasters. Everyone wants the lowest rates possible, but it is important to have insurance coverage higher than what you paid for in case there was a disaster that destroyed your home. Otherwise, you will have to pay for damages out of your pocket.
Determine how much your home is worth in the current market or how much you paid for your home.
The price you paid for your home—or the current market price—may be more or less than the cost to rebuild. And if the limit of your insurance policy is based on your mortgage it may not adequately cover the cost of rebuilding.
Eagle Strategic Insurance will give you the appropriate recommendations to make sure your home is properly covered. We are here to educate you to insure that the structure of your home is protected adequately.
To make sure your home has the right amount of structural coverage, consider:
Major factors that will impact home rebuilding costs
- Construction costs in the area that you live in
- The square footage of your home
- Determine how much insurance you need by multiplying the total square footage of your home by the per-square-foot building cost
Details that can impact home rebuilding costs
- The type of exterior wall construction such as, frame, masonry (brick or stone) or veneer
- The style of the house, for example, ranch, bungalow, raised ranch, or townhouse
- The type of roof and materials used such is composition or architectural shingles
- Other structures on the premises such as garages, sheds, and barns
- Special limits such as expensive jewelry, money fine arts bicycles and sporting equipment
- Improvements you’ve made that have added value to your home, such as an addition to the house will impact your home rebuilding cost