How Much Homeowners Insurance Do I Need?

Holding enough homeowners’ insurance coverage to protect you, your belongings, property, and fellow occupants can make you feel secure. But how much homeowners’ insurance should you get? A homeowners’ insurance cover has several basic coverages, and some ‘add-on’ covers that better the protection provided.

To know how much homeowners’ insurance cover you’ll need, you’ve got to consider all the basic coverages and extras that you’ll need to cover any deficiencies in coverage. Read on to learn the step-by-step considerations that you’ll need to make to determine the amount of homeowners’ insurance coverage you’ll need.

Choosing the Amount of Dwelling Coverage

The dwelling coverage element of the homeowners’ insurance cover funds the rebuilding of your house after it gets damaged by a covered loss. The amount of standard dwelling coverage you’ll need depends on the approximate cost of rebuilding your home in your locality. But sometimes, widespread catastrophes may increase rebuilding material costs. 

In such cases, you may need extended replacement coverage that offers more coverage. Or you may need the guaranteed replacement cost, which assures you that your home will get replaced regardless of the severity of the catastrophe or the rise in material and labor costs.

Covers for Other Structures

Detached structures such as sheds and garages often get at least 10% cover under the homeowners’ insurance cover. But if you deem them to be crucial, then you should think about increasing the coverage percentage.

Personal Property Coverage

The personal property coverage protects household items, including clothing, electronics, and furniture. You may choose to get the household replacement option or a cash value refund for the damaged items. But both options get determined by applicable deductibles and policy limits, and most companies give a 50% to 70% limit of the dwelling cover. To determine whether the default amount is enough, you have to first do an inventory check on all your belongings before asking for an adjustment from your insurer. 

Apart from considering the dwelling, adjunct structures, and personal belonging coverage, you’ll also need to consider elements such as personal liability, loss of use, and medical payments that may come after a covered disaster. Evaluating all these elements and your situation will help you determine how much homeowners’ insurance cover you’ll need. 

Get Enough Homeowners Insurance Policy Today

If you’re in Brownwood, TX, you should visit the Robnett Integra Insurance Services to get your homeowners’ insurance cover. At Robnett Integra Insurance Services, we provide updated homeowners’ insurance policies to all Brownwood, TX, residents. Check out our website to learn more.