Determining how much home insurance coverage and making sure you have enough in Edina, MN is going to be on a case-by-case basis. However, there are some things you can discuss with your agent at Central Lakes Insurance Brokers to ensure adequate coverage.
- Determine the Coverage for Your Home Structures: You want your limits to be enough to cover rebuilding your home. The current market value or the amount you paid for your home may not be the cost to rebuild, and there are some other things to keep in mind. Factors that affect rebuilding costs include square footage and local construction costs. Certain details will also impact costs, including the type of roof, number of bathrooms, style of house, and exterior wall construction. If there are unique features, such as fireplaces or arched windows, these need to be taken into consideration.
- Determine How Much for Your Possessions: In order to have a full understanding of how much coverage you need for your personal belongings, you need to do a home inventory. This is also a good record to have should you need to file a claim. Take stock of any expensive items, such as collectibles, furs, and jewelry. There may be limits on these items, and you could need additional insurance for full coverage.
- Determine Additional Living Expenses: Most policies will provide about 20% of the insurance on your home for additional living expenses while your home is being repaired, but you can also increase this amount.
- Determine Liability: Your liability coverage should be enough to protect your assets. Most policies will provide $100,000 in coverage, but you should have more if you have savings and investments that are worth more than this.
Contact Central Lakes Insurance Brokers, serving Edina, MN, to get a quote on home insurance.