How Much Home Insurance do I Need?

You faithfully pay your home insurance premiums every year, but have you ever asked whether you carry a sufficient amount of home insurance? There is nothing more frustrating than filing a claim only to find that you are underinsured. Reviewing your home insurance to see whether it’s sufficient is crucial in eliminating heartaches when disasters strike.

But because navigating home insurance alone can be daunting. Central Lakes Insurance Brokers won’t let you walk the journey alone. Please contact us to become your go-to insurance agent for all your home insurance needs. We also educate our clients in matters concerning insurance. Today, we guide you on carrying enough home insurance in Edina, MN. Let’s dive in.

Choosing the right dwelling coverage?

Dwelling coverage compensates you when your home is damaged or vandalized by a covered peril. So, when choosing the right amount of coverage, you should get an amount sufficient to rebuild your dwelling from scratch.

How much would it cost to rebuild your house today? That would be the amount of dwelling insurance you need to purchase. Having adequate dwelling insurance ensures you receive full compensation in the worst-case scenario.

Choosing the right content coverage

Contents insurance pays for the damages and losses occurring to your assets, including electronics, furniture, and clothing, among others. An excellent way to keep track of everything you own is by keeping a home inventory.

Ultimately, you should purchase content insurance sufficient to replace all your personal assets.

Choosing the right liability coverage

Most homeowners pay attention to dwelling coverage without realizing that liability coverage is equally important. Most liability coverage options for home insurance cover up to $100,000, but this amount is never enough when you face significant liability claims.

Consider liability coverage of at least $300,000 or $500,000 if you don’t have budgetary restrictions. If you need higher liability coverage, umbrella insurance is an excellent option.

Home insurance in Edina, MN

Still not sure about how much home insurance you need? Please get in touch with Central Lakes Insurance Brokers for further clarification.