Kalyn Johnson

Jun 28, 2024 | quote.com | Kalyn Johnson |Brad Larson

How much homeowners insurance do you need? Before you start calculating, it’s important to know the 80% rule in homeowners insurance — you must insure your home for at least 80% of its replacement value. If your home is valued at $200,000, buy at least $160,000 in coverage to avoid penalties. You can carry more homeowners insurance coverage and add endorsements if you live in a high-risk area.  Keep reading for a step-by-step guide to estimating your home insurance needs.

Jun 28, 2024 | quote.com | Kalyn Johnson |Brad Larson

What is home insurance and what does it cover? Get homeowners insurance coverage explained in this guide. We explore how coverage works and the factors companies use to set premium rates. The most basic homeowners insurance policies cover the structure of the home and your personal belongings inside. You have to pay a deductible before coverage applies, but you can choose between replacement cost and actual cash value policies. Who needs homeowners insurance?

Jun 28, 2024 | quote.com | Kalyn Johnson |Brad Larson

Your home insurance plan covers the home’s structure and your personal belongings. You can choose between replacement cost policies, which recover the full value of your items, and actual cash value policies, which consider depreciation. Each policy, from basic HO-1 to specialized HO-8, offers varying levels of protection. For instance, some types of home insurance provide replacement coverage by default but have higher monthly rates.