Myth #1: I Should Buy Home Insurance Coverage Based on the Market Value of My Home
While it may seem reasonable to buy home insurance coverage based on the real estate market value of your house, you actually want to buy coverage based on what it would cost to RECONSTRUCT your home. That number may vary more than you think. If you live in an area that doesn’t have a good housing market, your home may cost significantly more to rebuild, and vice versa for areas with strong housing value. Our insurance agents can help you with those calculations should you have questions! We will also help you reevaluate your insurance plans annually to make sure that your coverage is up to date.