Buying homeowners insurance can sometimes seem bewildering, with strange jargon and too many financial equations. To make it less mysterious, Fritch Insurance, one of the most trusted and experienced home insurance companies in Beatrice, NE, has created a guide to help you purchase homeowners insurance. 

4 Steps to Buying the Right Homeowners Insurance

1. Determine the Replacement Amount

Most home insurance companies base their coverage on the replacement cost, not on the market value, which tends to fluctuate. Ask a home builder or professional real estate appraiser to give you a reliable estimate of what it would cost to replace your home, and use this amount to help you choose the right coverage.

2. Estimate the Value of Your Personal Property

Complete an inventory of your personal possessions, including furniture, appliances, clothing, electronic devices, and other property. Take photos of the more valuable items. Ask your home insurance company whether they will reimburse you for the actual cash value (the amount you could sell the items for) or the replacement value (the amount you'd pay at a store to replace them).

3. Choose Liability Coverage Limits

Decide how much liability coverage you need to protect yourself in case of a lawsuit or medical care claim. If you have considerable assets to protect (savings or investment accounts, homes, collections, etc.), you need more liability coverage. Discuss how much liability insurance you need with your home insurance company.

4. Insure Expensive Items Separately

Extremely costly items, such as fine jewelry or artwork, should be insured separately. Include a photo and appraisal to make sure you have no trouble proving their value should you ever need to file a claim.

Fritch Insurance in Beatrice, NE, can walk you through the home insurance process and help you decide how much coverage you need to protect your home and assets. For more than 20 years, this independent agency has helped businesses and individuals throughout Gage County select the right types and amounts of home, farm, and auto insurance to fit their needs and budget. Visit them online to view a map and contact information, or call (402) 223-3312 to speak to a friendly, knowledgeable professional about your homeowners insurance needs.