How much home insurance coverage do I need to have?

Your home is a high dollar asset that needs to be protected adequately by insurance. When you are looking to insure your Ponte Vedra Beach, FL or North East Florida area home, there are many choices that you will need to make regarding your home insurance. One of the biggest decisions is regarding how much coverage you should have. There are several factors to consider when you are trying to determine your home insurance needs.

Purchase Price and Loan Amount

When you are trying to figure out how much insurance you need, the first factor to consider is how much you paid for the home and how much debt you owe. If you have a mortgage on the property, the lender will require that you have an insurance policy that will easily pay off the outstanding loan balance. However, you will also want to make sure that you have coverage to reimburse your equity in the home if there is a total loss.

Personal Property

You will also want to make sure that you have enough coverage for your personal property. Between clothing, furniture, appliances, and other personal items, you could have tens of thousands of dollars in assets sitting under your roof. You will want to make sure you have coverage for that. More valuable assets may require an additional policy rider. 

If you are looking for a new home insurance policy in Ponte Vedra Beach, FL or the North East Florida area, the team at Palm Valley Insurance, Inc. could help you get into a policy that provides you with the right level of coverage. The Palm Valley Insurance, Inc. team will be able to properly examine your current situation to make sure that you have the coverage you need to have the adequate protection you need to protect your home.