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How Much Dwelling Coverage Do You Need?

When thinking about home-owners insurance, itu2019s important to consider dwelling coverage and to ensure that you have an adequate amount for your home. Read on to know more about dwelling coverage, from how much you should have to calculating the replacement cost of your property: <br>

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How Much Dwelling Coverage Do You Need?

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  1. How Much Dwelling Coverage Do You Need?

  2. When thinking about home-owners insurance, it’s important to consider dwelling coverage and to ensure that you have an adequate amount for your home. Read on to know more about dwelling coverage, from how much you should have to calculating the replacement cost of your property: What is dwelling coverage? If your home should become destroyed for any reason, or become uninhabitable due to damage, then dwelling coverage should help you cover the costs of rebuilding it. This coverage is mainly concerned with the structure of your home, the materials it was built with and anything that might be attached to it, such as a garage or porch.

  3. How much dwelling coverage do you need? You would of course need enough coverage to equal the cost of replacing your home, but it can be tricky to calculate this. Here are 3 steps that should get you close to an accurate estimate: 1.Multiply the square footage of your home by the local construction costs These costs can be found on the websites of most construction companies, or you can ask your local insurance agent to help you out.

  4. 2.Use an online calculator to get a second estimate Free online calculators are available to help you, that use the square footage of your home, building materials and total number of rooms to give you a fairly accurate replacement cost. 3.Get an estimate from a professional Independent insurance agents local to the area will be able to help you calculate a highly accurate estimate of the replacement cost of your home.

  5. What factors might affect the replacement cost? There are several factors that might affect the replacement cost of your home, and as these can change, it’s best to reassess the cost every couple of years: • Building codes New safety features may have been added to certain building codes since your original home was built, and these will need to be checked by a professional insurance agent.

  6. Re-modelled kitchens It’s important that you adjust your home-owners insurance policy to match any increases in the value of your home that may have occurred due to renovations such as a re-modelled kitchen. • Extra rooms and/or structures If you’ve added any new rooms or structures to your property, then your insurance should reflect the new value of your home.

  7. Cost of building materials and construction costs Building materials, workers wages and construction costs can increase at any time, so its best to try and stay abreast of such rising prices. • Unique features If your home has any features inside or outside that would be hard to replace or replicate, then it may cost you extra to have them replaced. To get the full lowdown on home-owners insurance and to be sure that you have the coverage you need, schedule an appointment with a local insurance company who can talk you through your options in person.

  8. We Insure Miami was founded on the principle that every individual and business, big and small, has assets and valuables that need to be protected and insured against forces outside of our control. We offer Auto, business and homeowners insurance in miami. Our agents understand that you work hard every day to protect your car, home, business and family. WE are passionate about Insurance and passionate about serving you. If you are looking for home or business or auto insurance in miami fl, contact us for a quote or a complimentary review of your insurance policies.

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