When you purchase a new home or a resale home, you will want to make sure your home has sufficient insurance coverage. You want a homeowner’s insurance policy that will cover your new house and all of your family’s items inside. To determine how much insurance you need, figure our how much it would cost you to rebuild your house today on your existing lot. Your personal property coverage should then be anywhere from 55-75% of that amount, according to most insurance salesman.
If you live in Texas, you know there are natural disasters that take place. Along the coast, we have to be prepared for hurricanes. In other areas, there are wildfires. Damage caused by natural disasters such as flooding, earthquakes and hurricanes are not covered by regular homeowner’s policies, so depending on where you live, you may want to consider additional coverage. Your insurance agent can help you figure out the right amount of coverage and suggest upgrades or additional policies that would be appropriate for your specific situation. In the Spring and Woodlands area I recommend LaVon da Fletcher at State Farm Insurance. She and her team are experts at helping homeowners figure out how much insurance they need.