Buying the right coverage for your home is important, but, sometimes it’s difficult to know if your coverage is best for your situation. Asking your insurance agent questions is crucial in fully understanding what you are covered for should disaster strike your home.

  1. Ask your insurance agent how much coverage they quoted for your house. Your agent will calculate this number by examining the structure of your home, your personal possessions, the cost of additional living expenses if your home is damaged and you have to live elsewhere during repairs, and your liability to others.
  2. Also, if you have a separate structure on your property such as a garage, shed, workshop, etc., you must ask your insurance agent if that structure, as well as what it contains, is covered in your insurance. Many times these separate structures are not included in the original quote.
  3. Lastly, ask your agent about your replacement cost policy. Your replacement cost policy could save you thousands of dollars. But every policy is different, so ensure you’re covered and ask your agent.

You may be surprised at the answers you receive from your insurance company. If you feel that your home and personal belongings are worth more than your coverage, tell your agent.

For more information, check out the Insurance Information Institute:

http://www.iii.org/article/how-much-homeowners-insurance-do-i-need