How Much Homeowners Insurance Do You Need?

If you own a home in the Virginia Beach, VA area, you may not know how much homeowners insurance you need.  You want to have enough to replace your home structure, personal possessions, any liability costs, and enough to manage the cost of residing in a temporary place if necessary.  Some things may not be covered, which is why it’s important to work with an experienced agent to fine tune your policy.  Face it, without the coverage you need; it could end up costing you thousands of dollars. 

Structure

You want enough homeowners insurance to cover the cost of rebuilding your home at the time damage occurs.  One way to estimate the cost is to multiply the square feet of the home by the local building cost, which you can get from the builders association.  Many other factors go into the cost as well, such as the type of material used (lumber, brick), style, the number of bathrooms, the kind of roofing materials, and more.  It can quickly become overwhelming to figure out on your own.

Possessions and Liability

You want enough to cover your personal possessions, and there are two coverage options.  Replacement cost or the actual cash value replacement.  An experienced agent can help you decide which option is the best to cover your possessions.  The liability portion covers you if someone has an accident on your property and you are found responsible for the expenses, such as medical bills.

Insurance Shopper VA

If you own a home in the Virginia Beach, VA area, working with Insurance Shopper VA is an exceptional place for assistance in figuring out how much homeowners insurance you need.  Their professional agents will be able to help you design your homeowner’s policy to fit your needs.