Understanding your home insurance value

By April 5, 2018 July 3rd, 2018 Personal Insurance

As a homeowner, you do what you can to protect your home. You may have realized just how important home insurance in San Antonio, TX is and how it can safeguard your home and wallet in the event of a disaster. What many homeowners do not know is what figures make up home insurance. Check out just a couple of important figures within your home insurance coverage.

Deductible

Your deductible is what you will have to pay out of pocket before any assistance from your insurance provider kicks in. The higher the deductible, the more responsibility for the cost of repairs falls into the homeowners hands. Although a high deductible may mean your monthly premiums decrease, be aware that this will be your out-of-pocket cost should you need to file a claim.

Value of Personal Belongings

Your home will be full of valuable items. Make an accurate account of all of your valuables including expensive items like electronics, jewelry and antiques. Your home insurance coverage will cover most of these items in your personal property coverage. However, every coverage has its limits. If your high-value items are worth more than your coverage provides, you will need to secure additional insurance to protect these items. Talk to your insurance provider to ensure you understand which of your belongings are covered.

Premium

Your home insurance premium is the sum you’ll pay for your policy after any discounts, codes, or coupons have been applied. Some companies do provide discounts for having an alarm system, being close to a fire hydrant and bundling insurance coverages together. Ask your insurer for more information.

Are you looking the right home insurance for your needs? Contact Jerry R. Carnahan Insurance to get started on your tailored policy today!

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