3 ways to get the most out of homeowners insurance

Here are a few tips for getting the most out of home insurance.

Buying insurance can often be a frustrating experience, but it is essential to get a plan that is comprehensive enough. Here are a few tips that will help you get the most out of your homeowners insurance:

  • Know your home's value: One of the most important things to understand from the very beginning is how much insurance you will actually need. This means having an exact number for how much your home will actually cost to rebuild, in the event that it is damaged or destroyed. Home builders or a valuation tool like e2Value's can give you the truest value.
  • Make a list of your items: Your insurance will cover the structure of the home, as well as the possessions that you own. You likely have tens of thousands of dollars worth of stuff in your home at any given time, so keeping track of everything will be essential. Be sure to include how much each item is worth, based on receipts and purchase dates. To help with this inventory, United Policyholders offers an app www.uphelp.org/ and the Insurance Information Institute www.iii.org, among others, offers software and an app.
  • Understand risk factors: The premium paid will be based on the risk the property and the occupants present. Things like the location of the property, which influences fire department response, natural hazard exposure and recent weather events as well as your living habits will all be taken into account by the insurance company when setting the rates for an area and an individual.

As the leading provider of web-based property valuation solutions, e2Value can assist you with all of your Insurance-to-Value (ITV). Whether you are looking for valuations for high-value homes, mainstreet homes, condos, co-ops, commercial properties, manufactured homes, log cabins, or farms and ranches, our patented estimator can quickly calculate the cost of replacing a residential, commercial or farm structure, and provide you with a fast, cost-effective and accurate replacement cost valuation.