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Homeowners insurance is a collection of different coverage types that protect your home and assets in various ways. To buy the right types and amounts of coverage, you should ask several questions to your insurance agent and have them help you decide what you need. Chanler Agency, the most experienced insurance agency in Geneseo and Livonia, NY, offers seven important factors to discuss when buying home and property insurance.

What Should You Ask When Buying Homeowners Insurance?

1. How Much Would It Cost to Rebuild Your Home?

Homeowners insuranceTo know how much dwelling insurance to buy, you need to know how much it would cost to rebuild your home. Request one or more estimates from builders, and ask your agent how much coverage you need to protect yourself fully.

2. How Much Personal Property Coverage Do You Need?

You should create an inventory of your possessions and estimate their value to determine how much property coverage you need. If you cannot accurately valuate your furniture or clothing, ask your agent how much they recommend.

3. What Are the Deductible Amounts for Various Perils?

Most deductibles are a specific dollar amount, but for hurricanes and windstorms, they are often a percentage of claim amount. Ask your agent how much you would pay out-of-pocket if various types of disasters should strike.

4. Do You Need Earthquake or Flood Insurance?

Discuss whether you need earthquake or flood insurance in your area. Coverage for these perils usually costs extra, and an experienced insurance agent should be able to advise you accurately whether they make sense given your location.

5. Does Your Policy Cover Sewer Backups or Sump Overflow?

Some homeowners insurance policies cover sewage backups and overflow from the sump system. Other insurers specifically exclude these hazards. Make sure you know whether you are covered for these.

6. Do You Need Riders for Expensive Art or Jewelry?

Take photos and get an appraisal of any expensive artwork, collectibles, or jewelry you own. Show these to your insurance agent and ask if you need to purchase additional coverage or a separate rider to protect them fully.

7. How Much Additional Living Expense Coverage Do You Need?

Most homeowners insurance policies include additional living expense coverage in case your home becomes uninhabitable. Discuss this with your agent to determine the amounts you need and for how long after a claim it should last.

Chanler Agency, the premier insurance agency in Geneseo and Livonia, can walk you through the steps required to design an appropriate and affordable homeowners insurance policy for your needs. Visit their website to request a quote, or call (585) 243-5520 for the Geneseo location or (585) 346-3118 for the Livonia office to discuss your options with a friendly expert.

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