How can I determine my Home Owner Insurance coverage need?

Message

Author

Posted: Sun Mar 15, 2009 3:37 pm Post subject: How can I determine my Home Owner Insurance coverage need?

I want to know how to figure what coverage limits I need so I don't over insure.

dougdort

New member

Joined: 15 Mar 2009
Posts: 1

1.30 Dollars($)

Posted: Sun Mar 15, 2009 4:04 pm Post subject:

You need to sit down with an agent and go over this information. It depends on many different factors.

tcope

Forum Expert

Joined: 22 Nov 2006
Posts: 5065

Location: Salt Lake City, UT
272.43 Dollars($)

Posted: Mon Mar 16, 2009 9:59 am Post subject:

Quote:

You need to sit down with an agent and go over this information. It depends on many different factors.

Thats the best and the most appropriate way to go about determining your needs. But you can always do a bit of homework before going to the agent.

These would help you in your discussion with the agent.

~Jeremy

JeremyHolter

Senior member

Joined: 06 Jun 2007
Posts: 1194

210.30 Dollars($)

Posted: Mon Mar 16, 2009 11:50 am Post subject:

Let me tell you that people often get underinsured in the fear of being over insured. Instead of avioding necessary coverage in the fear of paying more, you can adopt some of the following cost saving techniques, Choose the deductible level wisely. Higher deductible would help you to lower the cost of coverage. Often the insurer offers discounts if you insure both your car and home with it. Some preventive measures can also help you in reducing cost. Insurers are known to pay discounts to the homeowner if the house is well protected against the burglars. If you are a non-smoker you can also cash-in on it. Special discounts are offered to people for keeping their home smoke free. Smoking also affects the value of your property. Hence, its a good incentive to quite smoking as well.

jeorge

Senior member

Joined: 07 Oct 2005
Posts: 808

132.58 Dollars($)

Posted: Mon Mar 16, 2009 12:02 pm Post subject:

Hey dougdort Definitely consulting an agent is the best idea to determine what coverage limits you need to have. When you do consult your agent make sure you cover the following: the structure of your home the possessions that you own personally if there was to be a damage to your home what would be the cost you may have to bear if you had to shift temporarily? the responsibility you have towards others as in How much insurance you should buy also depends on how much you can afford. Try and strike a balance, but first find out what would be the best policy for you. _________________ AmPmInsure Blog