Many homeowners consider their home insurance policy to be another thing the mortgage company requires, so they just try to find the least expensive coverage available. Unfortunately, this can be a major mistake, especially considering that your home is probably the biggest and most important investment you'll ever make. At Consolidated Agency in Rochester, we always recommend choosing your home insurance policy carefully, with advice from a seasoned professional.

Here are a few reasons you should carry a robust home insurance policy:

• Not Everything Is Covered: Standard policies from each insurer generally protect you against the same things, but that may not be enough for your property and the area you live in. Some risks, like most water damage and earthquakes, are specifically excluded. Depending on where you reside, these additional policies can be lifesavers.
• Your Coverage Limits Might Not Be Enough: Your home insurance policy likely includes some protection for your personal belongings, which will compensate you if they're stolen or destroyed in a protected event. However, the coverage has limits, so if you have especially valuable jewelry, art, or other property, you may want to increase those maximums. The difference to your premium may be negligible, and the peace of mind is worth it.
• Market Value Vs. Replacement Value: Most people assume their home insurance policy would pay to rebuild if something happened and their home was destroyed. Unfortunately, this is not always the case. Your policy may only offer you fair market value for your home, which might not be enough to replace it. Prices vary depending on where you live, but in many cases, you'll be much better off with insurance that offers the full replacement value of your home.

Your home is the center of your life, which is why we strive to make sure you have the protection you need. Since 1998, we at Consolidated Agency have provided expert guidance through the complexities of the insurance industry and a long list of products from the nation's top carriers. Visit our website to learn more, or give us a call at (585) 467-4110 to make an appointment today.