Does your home insurance in Astoria, New York have the coverage amount it needs?
Your home represents one of the most – if not the most – significant investment you’ve ever made. That’s why it’s important to not just protect your house itself, but also the equity you’re building in it.
Home insurance in Astoria, New York is designed to do just that, provided you have the proper coverage amount. To help you find out if you do, use this guide.
The first thing you need to understand is the difference between market value and replacement cost. While market value might represent the cost of rebuilding your home from the ground up, it’s not safe to assume that the amount for which you could sell your home is the amount for which you could rebuild it.
Instead, you need to calculate replacement cost for your specific home based on its square footage, the type and quality of materials you would use to rebuild it, the changing cost of those materials, and any other special features your home has (e.g. a pool).
Once you’ve figured out the cost of rebuilding your home, it’s time to get in touch with your agent. He or she can make sure your policy will fully cover that expense for your family, while also helping you cover your liability and the personal property you store in your home.
You shouldn’t have to be on your own when figuring out how much Astoria, New York home insurance to buy. That’s where we come in. As experts on this type of coverage and our local market, we can help you tailor a policy to fit your unique home and your unique financial situation. To make sure you have the right amount of home insurance, contact 01 Insurance today!