After purchasing a property, protecting your space and personal belongings is important. Having the right coverage in the case of emergencies can offer financial peace of mind. This article provides a brief guide for choosing homeowners insurance to protect your space.
Calculating the total cost of your home and assets helps in choosing the appropriate amount of coverage. The coverage limits should be enough to rebuild your home and replace personal items if needed.
Insurance companies use a calculator to figure out the total worth of your home. From there, most offer around 50% of that amount to cover personal belongings.
There are many types of homeowners insurance. Some offer personal property coverage and liability coverage. Others are very limited and only offer enough coverage for the structure of a property.
An HO-3 is the most common type of homeowners insurance. It offers liability insurance, dwellings coverage, funding for personal property and more.
Having additional living expenses coverage secures your well-being if you’re displaced from your home as it’s getting repaired. For example, if a fire damages your home, repairs may take a while. Additional living expenses coverage would pay for you to stay in a rental.
The right insurance company will offer policies covering all of your property. Speaking with a local lender can help you explore different coverage options.
Hello! I'm Julie Martinez, a dedicated real estate professional committed to guiding you through every step of your property journey. With over 7 years of experience, I have a deep understanding of the local market dynamics, ensuring you receive informed and strategic advice. Recognized as a top producer in the region, I've successfully closed over 57 transactions and consistently exceeding client expectations. I am committed to providing personalized service, ensuring that each client feels valued and supported throughout their real estate journey. Whether you're buying or selling, I'm here to help. Contact me today to start your real estate journey.