How much home insurance is enough? The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one.
How Much Home Insurance is Right for You?
Located throughout the state including in Conway, Noble Insurance Agency understands the home insurance needs of our customers. We'll work with you to estimate the replacement cost for your home and adjust your policy limits from time to time as needed.
It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home’s true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy.
Once a review of your home and possessions indicates you are properly insured, it's a good idea to reexamine your coverages and limits from time to time, espcially whenever you make additions or improvements. Noble Insurance Agency can help you re-evaluate your insurance needs, just give us a call to speak to one of our agents.
Be Sure You Have Enough Homeowners Insurance
Here are some steps you can take to reduce the danger of being underinsured:
1. Call Noble Insurance Agency. If you have questions or concerns about the limits in your policy, ask us to show you how those amounts are calculated. This will also give you an opportunity to make us aware of any overlooked information.
2. Read your policy. Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly.
3. Review. At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverages. Review this info. If you do significant remodeling or add any rooms, we should review your coverages.
4. Consider carefully whether your policy provides all the protection you need. Does it provide coverage for extra costs resulting from building code changes? Does it automatically increase coverage limits annually to keep pace with inflation? Does it provide additional funds if the cost of rebuilding your home exceeds the policy limts?
If you're unsure about any of your coverages, or would like more information, feel free to reach out to us. We are happy to assist with your insurance needs.