Do you need to buy Philadelphia home insurance? Try this list of basic questions to get you focused on the priorities.
- In the event of a complete loss, how much would it cost to rebuild your home in its current location? The policy should offer information about partial and total losses; it should list events that are covered; it should also list exclusions. For the latter you will probably need extra policies or endorsements.
- After a complete loss, what would it cost you to replace your personal items? The policy should cover total replacement costs for losses that result from any insured event.
- How much liability coverage do I need? Coverage on home insurance policies usually starts at around $100,000, but many companies recommend you buy up to $300,000.
- How much coverage for additional living expenses is usually included? Many policies offer coverage equal to 20% of the value of coverage for the home. That can vary and you need to check.
- Do I need separate flood or earthquake coverage? Yes – these will likely be listed in the exclusions in the policy.
- Can I get discounts on my premiums? Sometimes you can – if your house has smoke detectors, burglar alarms, deadbolts, a sprinkler system, and/or a monitored security system, some discounts may be available.
This should help get you started. To take the next step, you should call one of our agents to discuss your Philadelphia home insurance requirements. We are happy to answer further questions you may have, and explain how the policies and the claim process work.