There are a lot of important details that you need to decide on when you insure your home in Huntley, IL. At August Vincent Insurance Agency, we can help you make important decisions on home insurance policy details by answering your questions and providing you with needed information.
The following are three details you shouldn’t overlook when you buy a home insurance policy:
The deductible amount
You need to decide on a deductible amount for your policy. This is the amount you have to put toward your claim before your insurance policy will start paying.
Higher deductibles typically mean lower premiums. Home insurance policy deductibles can either be flat amounts or percentages of the total amount of coverage you get on a claim.
Liability coverage maximums
Liability coverage on your home insurance policy pays for the costs of accidents that occur in your home that you’re liable for. It’s important to choose liability coverage maximums that are high enough to pay for the costs of any lawsuit you face.
Actual cash value or replacement cost coverage
Your home insurance policy also covers your property itself by providing you with either actual cash value or replacement cost coverage.
Actual cash value coverage covers you for the market value of your property at the time it is damaged. Replacement cost coverage will cover the cost of rebuilding your home without any depreciation in your home’s value being taken into account.
Do you have questions about insuring your home?
Are you currently getting policy quotes to see which home insurance policy you should purchase? You can call us today at August Vincent Insurance Agency in Huntley, IL to get a quote on a home insurance policy.
