Three Things You Should Know About Homeowners Insurance

When it comes to protecting your biggest investment, it’s essential to do some research so you find the best home insurance in Connecticut for your individual situation. What exactly do you need to know before you make a decision? The following are three important questions you should ask yourself before choosing a policy.

  1. How much coverage do I need? – It seems obvious, but when you have better coverage, you’ll have to fork over less cash if something does happen. Check with your lender to see if they have a minimum requirement, because they may want the policy to cover at least the amount of your outstanding home loan.
  2. Should I insure for replacement cost or actual cash value? – When you buy home insurance in Connecticut, you’ll need to decide if you want to insure for an amount that will pay the replacement cost for repairs and rebuilding without taking depreciation into account. If you want depreciation included, opt for the actual cash value.
  3. How often should I review my policy? – It’s a smart idea to reach out to your agent and review your policy once a year. Changes to your home, including a room addition or other upgrades, add value that may mean you need increased coverage.

Shop around when you’re looking for home insurance in Connecticut to make sure that you’re getting the policy that works best for you. A little extra research before you make a decision can save you time and money in the long run.

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