You never know if and when something will happen — whether it’s an enormous catastrophe or something less destructive – be prepared! Choosing the right company, price, and coverage for your specific situation is essential.
Remember that homeowners insurance is a collection of different kinds of coverage such as fire, theft, liability, flood, and hurricane wrapped up into a single policy.
Whether you’re a current homeowner who may need to upgrade your coverage or a potential new buyer who is purchasing home insurance for the first time, review these steps, so you have the proper protection for YOU:
How Do You Determine Coverage?
Your coverage should include the square footage of your home, but it must also factor in how much it will cost per square foot to rebuild in case of disaster.
Your insurance company will most likely require you to purchase coverage that protects 80% of the home’s replacement value.
Be sure to consider everything you have inside the home, which will also need to be replaced in the event of a disaster.
Do You Have Enough Coverage?
Get current information about what your home is worth today and how much it would cost to rebuild it.
Make sure that your deductible is at a price that you can afford if you must rebuild or do extensive repairs to your home.
If you’ve got a unique art collection or a home office with equipment and supplies, you should be sure to let your agent know so that they can inform you about any additional riders that might be necessary.
What About Flood Insurance and Hurricane Insurance?
Talk to your insurance agent about both and make sure you are covered.
Do You Need to Upgrade?
For current homeowners, meet with your insurance agent to discuss your current coverage and let them know about any new recent home improvements or any new possessions that should be included in your policy.
Your agent will come out and document these upgrades, take photographs, and let you know if you will need additional coverage.
I'm Tehane, a local realtor helping locals buy, sell, and stay local in Honolulu Schedule a conversation, and let's talk about your current situation and where you want to be. Then, let's create a plan to get you there. Every journey begins with the first step!
BHGRE Advantage Realty
4211 Waialae Avenue, Box 9050
Honolulu, HI. 96816