If you’re like most homebuyers along 30A, you know you’ll need insurance once you buy your dream house – but just how much insurance do you need?
How Much Home Insurance Do You Need?
Ideally, your home insurance policy will cover all your costs if your home is totally destroyed. The right policy for you – which may not be the same as your neighbor’s – will kick in and pick up the tab if something horrible happens and you lose everything.
Your lender will most likely require you to have enough coverage to do that – but even if you’ve paid off your mortgage, you should still have a policy to cover the majority of replacement costs.
A lot of that depends on your home, though. Unfortunately, there isn’t a one-size-fits-all number. The size of your house, the materials used in it, and several other factors, including its location, will have a big impact on how much coverage you need to pay for the costs of a total loss.
Why Coverage Amounts Are Usually More Than the Home’s Value
A lot of home insurance policies cover what’s inside your house as well as its structure and systems. That’s why coverage amounts are usually a lot higher than just your home’s value.
However, you still might need additional coverage. Not all policies cover things like antiques, expensive jewelry and art.
Are You Buying a Home Along 30A?
If you’re thinking about buying a home for sale on 30A, we can help you. Call us at 850-213-3048 to tell us what you’re looking for – we can help you find it.
In the meantime, check out all our listings or get specific with these links: