Why should I homeowner insurance?

People who have a home and a mortgage are required by their lender to have homeowner insurance. It’s a good idea to protect your home investment and buy homeowner insurance even if you don’t have a mortgage.

How much homeowner insurance?

When deciding how much insurance you might need to protect your home, contact your insurance agent. Your agent can professionally evaluate your coverage needs. Generally the replacement cost of your home is the amount you insure your home for. The value that is calculated is based on the specifics of your home.

These are pieces of information about your home that you should be prepared to provide:

• Square footage
• Roof type
• Recent improvements, such as a room addition or a new deck.

Ask your agent about coverage for outbuildings and unattached structures

Is your home financed?

It's also important to know the difference between replacement cost and actual cash value coverage

It doesn't cover another residence on your property, such as a rental or mother-in-law apartment.

Check your policy for coverage limits and amounts.

If you have questions, ask your agent.