How Much Home Insurance Do I Really Need?

For many people in Southlake, TX, the biggest investment that they will ever make is their home. For this reason, you must have the right amount of home insurance in place to protect you if disaster strikes. Unfortunately, many people are unaware of just how much coverage is enough. At Kimble Brown Insurance Agency, we will walk you through all of the coverage included in a standard home insurance policy as well as provide you with options for additional coverage that you may need.

Dwelling Coverage

Obtaining the right amount of coverage starts with dwelling coverage. This is the amount that you will be paid if your home requires repairs following an insured incident or is declared a total loss. You will only be paid in an amount up to the limits of your policy. This means if you do not have enough coverage, you will not have the financial support to rebuild.

Start with the cost to rebuild your house in your area based on current material costs and local construction fees. You can use an online calculator, get an estimate from a professional contractor, or ask your insurance provider for an estimate. Once you know the amount that it would take to rebuild your home, you will know how much to include in your home insurance policy.

Other Coverages to Consider

In addition to dwelling coverage, you will also need to consider additional coverage options. For example, a standard policy does not include things like floods and earthquakes, you will have to purchase additional policies for that. In addition, some valuable items such as firearms and jewelry have limited coverage in a standard policy, so you may want to consider additional coverage there as well.

If you live in the Southlake, TX area and you have questions about your home insurance, contact Kimble Brown Insurance Agency. Call today.