Call 781-447-5561 For Fast Insurance Quote.
homepage   |   about us   |   contact us    


How Much Homeowners Insurance Should You Carry On Your Home

Simply stated, to calculate the amount you need to properly insure your home, you must first determine its replacement cost - what it would cost you to rebuild your home from the ground up at today's prices for materials and labor. We can help you do this by working with you to complete a residential replacement "costimator".

Be Sure You Carry Enough
If you insure your home for less than 80% of what it will cost you to replace it, you won't collect full cost of your repairs in case your home is partially damaged; you will collect only the "actual cash value", which is replacement cost less depreciation.

But Not Too Much
If you purchased your home three or four years ago and you insured it for the price you paid for it, you could be carrying too much insurance - more than you could actually collect - as the price you paid or the market value, also included the land.

Your bank requires you to carry only enough insurance to cover the amount of the mortgage or the replacement cost of your home - whichever is less.

What Then Is The Proper Coverage For Your Home
Insure for 100% of today's replacement cost and if your home is eligible, as GUARANTEED REPLACEMENT or "No-limit" endorsement. With this endorsement, your Homeowners policy will pay for the full amount to rebuild your home in the same location if itís totally destroyed even if the cost exceeds your policy limit.

Request a Homeowners Insurance Quote Online

Insurance Type - you can select only one

First Name
Last Name
Email Address
Zip Code
Click to proceed
Request Home Insurance Information Call Back

phone: 781.447.5561
fax: 781.447.1246

293 Bedford Street
PO Box 228
Whitman MA 02382

Whitman, Massachusetts
phone: 781-447-5561
fax: 781-447-1246

175 Derby Street
Unit 2
Hingham Ma 02043

Hingham, Massachusetts

  |     |     |     |  

Copyright © 2016 AUSTIN INSURANCE AGENCY, , All Rights Reserved