There are so many choices to make when you take out a home insurance policy, the entire process can be overwhelming.
One of the ways that you can make the process a little bit easier on yourself while still ensuring that you get a policy that protects you from actual risks, is to get familiar with the idiosyncrasies of where you live.
The state you live in may have its own risks due to climate, location and infrastructure.
Further, the town and neighborhood you live in will have its own risk factors to consider as well.
Becoming familiar with this data and considering your home insurance needs from these angles will help ensure that you get the right coverage for your property.
Location-Specific Weather Concerns Weather plays a big role in the type of home insurance policy coverage you need.
From states located in tornado alley, to dry areas prone to spreading wildfires, to areas frequently afflicted by hurricanes and windstorms.
The historical weather-related activity affecting your state will play a big role on the types of coverages, deductibles and limits you want to choose for your home insurance policy.
It may also affect the protective measures you want to take in order to prevent damage and earn insurance company discounts.
Natural Disasters Some areas of the country are relatively free of common natural disasters.
But earthquakes, sink hole formation and volcanic activity are real risks that some states face, and homeowners in those states need insurance policies that accurately reflect those risks.
Rebuilding Costs Your dwelling's coverage limits are based on the estimated cost of rebuilding your home should disaster strikes.
If your limit exceeds actual costs, you will not receive the difference, and if it falls below what you need, you'll be forced to come up with the rest of the money elsewhere.
Understanding your area's rebuilding costs will help you set coverage limits that accurately reflect the expenses you are likely to face.
Sea Level and Floods Floods can be caused by infrastructure issues, such as those experienced during Hurricane Katrina.
They can also be the result of living close to a large body of water or below sea level.
Unfortunately, no matter what causes a flood to occur, the damages will never be covered by your home insurance policy.
If you know, based on your home's location, that you are at risk for experiencing flood damage, then a home insurance policy is not enough; you must get a flood insurance policy.
Crime Statistics If you live in a high crime area, you may want to be thoughtful about the contents coverage limits of your policy.
Having a limit that accurately represents the value of your electronics, jewelry and other targeted items will ensure that you are fully reimbursed should you fall victim to a theft.
This knowledge will also allow you to invest in the proper anti-theft devices for your home, such as a monitored alarm system.
You should also keep a detailed inventory of all your valuables.
This should include serial and model numbers for all electronics.
If possible, take photos of jewelry and other luxury items and keep them with your inventory.
This will help recover damages should you be forced to file a claim.
At Magill Insurance Agency, we understand the unique risks you face as a home owner, and we want to help you protect your home and family from them.
Give us a call and we can help you determine what kind of coverage your home needs as well as what deductibles and limits are most practical for your risk, and your budget.