Evaluate your worst-case scenario to determine how much homeowners insurance you need!
As morbid as it sounds, if your home was to get burgled overnight or if there was a fire in the home today, you should know how much it would cost to replace everything in your home. As most people would struggle to replace all of their possessions, which is why content insurance within a homeowners policy is extremely valuable.
What is covered by contents insurance?
Your mortgage provider won’t insist that you have contents insurance and it’s not always compulsory if you rent your home. Despite this, it’s a good idea in case the unexpected happens!
Contents are all the items you use to furnish your home, such as carpets and furniture, as well as all your personal belongings, décor, and clothing. If you own expensive individual items such as works of art, expensive sporting equipment, or valuable jewelry, you may need to purchase a floater or additional insurance.
Determine the value
In order to determine the value of all of your contents, you can perform a home inventory! This means taking stock of all of your belongings, recording the make and model, and the value of each item. To know the total value of your possessions means that you can match a homeowners insurance policy to suitable content coverage!
Say you have $25,000 worth of belongings in your home, but your homeowners insurance policy only covers $10,000, you will be missing out on $15,000 worth of coverage. In short, less than half of your belongings could be replaced in the event of an accident.
Are you ready to receive coverage for all of your belongings? Contact Abbate Insurance for all of your homeowners insurance needs in New Haven, Connecticut!