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As a homeowner, it's vital to the safety of your family and home for your property insurance to offer adequate coverage. Yet, not all policies are created equal. To help you determine if your policy provides enough protection, the insurance specialists at Michael E Glick Insurance in Boerne, TX, highlight the various types of coverage available.

What Your Property Insurance Should Cover

The main aspect of property insurance coverage is structural protection. Your insurance should cover the cost of a full home replacement, including labor. It's important for you to check the maximum amount your policy covers because it doesn't always reflect the current construction and market rates.

You should also look for a stipulation regarding extended replacement coverage, which guarantees the cost of home replacement, plus an additional percentage to make up for inflated construction costs. If there’s community-wide home damage, the cost of repairs may skyrocket because of the increased demand. This coverage serves as a safeguard to prevent such costs from coming out of pocket.

Are the Contents in Your Home Protected? 

How to Tell if You Have Enough Property Insurance Coverage from Michael E. Glick Insurance in Boerne, TXWhile it's important for your home to be protected, you also need the contents of your home protected. Nearly all property insurance policies cover personal possessions, but there are also limits on individual and overall replacement amounts. There may also be a clause stipulating whether the coverage offers a replacement cost or cash value for destroyed contents of the home. Replacement cost pays out the cost of replacement for a new item of the same type while cash value only covers the worth of the exact model you owned.

When it comes to natural disasters, only things like tornadoes, fire, hail, and severe wind are covered under standard property insurance policies. Those living in areas with a chance for flooding need to purchase additional flood insurance to help cover the cost of water-related damage.

If one of these disasters hits and requires your home to be rebuilt, you won't be able to live on your property. Renting a house or apartment during construction is a large expense, especially since you're required to pay your mortgage. Make sure your insurance plan covers these living expenses and that the maximum amount is enough to comfortably live in your area.

If you're not sure if your policy offers enough coverage to protect your home, contact Michael E Glick Insurance. The insurance agency will review your policy and identify any areas of improvement. Contact the Boerne company by calling (830) 816-9488, and take a closer look at the various areas of property insurance coverage available online. They also offer life and auto insurance, so you can conveniently purchase all of your plans in one convenient location. 

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