When you are about to purchase a house, one of the things you need to think about is homeowner’s insurance. There are some considerations to keep in mind. A company such as All Counties Insurance Agency & Traffic School can help with this if you’re in the Palm Coast, FL area.
How Much Coverage?
Talk to your agent about how much coverage is best for your interest. Your lender may want you to get a policy that is at least the amount of your mortgage on your home. This does affect how much you pay.
Replacement or Actual Cash Value
You can decide if you want to insure your house and belongings for replacement cost or the actual cash value. With replacement cost, it’s the amount that you would need to pay in order to rebuild or replace your house. It also covers damage repair with materials that are of a similar type and quality. Actual cash value is the amount that you’d need for replacement and repairs after depreciation is factored in.
Know What an Agent Does
An independent agent assists you with getting insurance coverage from one of the companies it works with. You don’t have to go with the insurance company that your lender suggests so you can "shop around" for the best policies to meet your needs by talking to your agent.
Read Everything Carefully
All home insurance policies are legal contracts. It describes your rights and responsibilities in detail as well as those of the insurance company. As soon as you buy your insurance and get your policy document, read it completely, and have a solid understanding of the language of it. Ask questions if you’re not sure about any terms or if something doesn’t reflect what you thought you were getting.
When you visit All Counties Insurance Agency & Traffic School of Palm Beach, FL, and beyond, you can be confident that the agents are knowledgeable and do their work well. Reach out with your questions today.