Saturday, January 30, 2016

How Much Homeowners Insurance Should You Carry?



Annual homeowners insurance premiums run between $300 and $1,000, on average, according to the Federal Reserve Bureau. For a more detailed look at the coverage provided for each premium dollar, it’s best to break that coverage down into its component parts.

For more on this see: The Beginner’s Guide to Homeowners Insurance.

6 Types Of Coverage
A typical homeowners policy, designed to pay for damages or losses resulting from fire, lightning, tornadoes, hail, explosions and theft, provides six different types of coverage.

1. Your House – This is for your actual home, including an attached garage, if you have one. The value of the land your house sits on is not included since land remains intact even when a building is destroyed.

Coverage should be for full replacement, which does not consider depreciation, current market value or inflation. Replacement coverage, as the name implies, includes the full cost of rebuilding or repairing your house.

For a ballpark estimate of your insurance needs, take the total square footage of your home and multiply that number by local building costs per square foot. A call to a local real estate agent, builders association or insurance agent should provide you with estimates of construction costs for your area.



Read more: How Much Homeowners Insurance Should You Carry? | Investopedia http://www.investopedia.com/articles/personal-finance/010716/how-much-homeowners-insurance-should-you-carry.asp#ixzz3wog1WYMp
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Saturday, January 23, 2016

How Much Homeowners Insurance Should You Carry?



Annual homeowners insurance premiums run between $300 and $1,000, on average, according to the Federal Reserve Bureau. For a more detailed look at the coverage provided for each premium dollar, it’s best to break that coverage down into its component parts.

For more on this see: The Beginner’s Guide to Homeowners Insurance.

6 Types Of Coverage
A typical homeowners policy, designed to pay for damages or losses resulting from fire, lightning, tornadoes, hail, explosions and theft, provides six different types of coverage.

1. Your House – This is for your actual home, including an attached garage, if you have one. The value of the land your house sits on is not included since land remains intact even when a building is destroyed.

Coverage should be for full replacement, which does not consider depreciation, current market value or inflation. Replacement coverage, as the name implies, includes the full cost of rebuilding or repairing your house.

For a ballpark estimate of your insurance needs, take the total square footage of your home and multiply that number by local building costs per square foot. A call to a local real estate agent, builders association or insurance agent should provide you with estimates of construction costs for your area.



Read more: How Much Homeowners Insurance Should You Carry? | Investopedia http://www.investopedia.com/articles/personal-finance/010716/how-much-homeowners-insurance-should-you-carry.asp#ixzz3wog1WYMp
Follow us: Investopedia on Facebook

How Much Homeowners Insurance Should You Carry?



Annual homeowners insurance premiums run between $300 and $1,000, on average, according to the Federal Reserve Bureau. For a more detailed look at the coverage provided for each premium dollar, it’s best to break that coverage down into its component parts.

For more on this see: The Beginner’s Guide to Homeowners Insurance.

6 Types Of Coverage
A typical homeowners policy, designed to pay for damages or losses resulting from fire, lightning, tornadoes, hail, explosions and theft, provides six different types of coverage.

1. Your House – This is for your actual home, including an attached garage, if you have one. The value of the land your house sits on is not included since land remains intact even when a building is destroyed.

Coverage should be for full replacement, which does not consider depreciation, current market value or inflation. Replacement coverage, as the name implies, includes the full cost of rebuilding or repairing your house.

For a ballpark estimate of your insurance needs, take the total square footage of your home and multiply that number by local building costs per square foot. A call to a local real estate agent, builders association or insurance agent should provide you with estimates of construction costs for your area.



Read more: How Much Homeowners Insurance Should You Carry? | Investopedia http://www.investopedia.com/articles/personal-finance/010716/how-much-homeowners-insurance-should-you-carry.asp#ixzz3wog1WYMp
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Friday, January 22, 2016

How Much Homeowners Insurance Should You Carry?



Annual homeowners insurance premiums run between $300 and $1,000, on average, according to the Federal Reserve Bureau. For a more detailed look at the coverage provided for each premium dollar, it’s best to break that coverage down into its component parts.

For more on this see: The Beginner’s Guide to Homeowners Insurance.

6 Types Of Coverage
A typical homeowners policy, designed to pay for damages or losses resulting from fire, lightning, tornadoes, hail, explosions and theft, provides six different types of coverage.

1. Your House – This is for your actual home, including an attached garage, if you have one. The value of the land your house sits on is not included since land remains intact even when a building is destroyed.

Coverage should be for full replacement, which does not consider depreciation, current market value or inflation. Replacement coverage, as the name implies, includes the full cost of rebuilding or repairing your house.

For a ballpark estimate of your insurance needs, take the total square footage of your home and multiply that number by local building costs per square foot. A call to a local real estate agent, builders association or insurance agent should provide you with estimates of construction costs for your area.



Read more: How Much Homeowners Insurance Should You Carry? | Investopedia http://www.investopedia.com/articles/personal-finance/010716/how-much-homeowners-insurance-should-you-carry.asp#ixzz3wog1WYMp
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Wednesday, January 20, 2016

How Much Homeowners Insurance Should You Carry?



Annual homeowners insurance premiums run between $300 and $1,000, on average, according to the Federal Reserve Bureau. For a more detailed look at the coverage provided for each premium dollar, it’s best to break that coverage down into its component parts.

For more on this see: The Beginner’s Guide to Homeowners Insurance.

6 Types Of Coverage
A typical homeowners policy, designed to pay for damages or losses resulting from fire, lightning, tornadoes, hail, explosions and theft, provides six different types of coverage.

1. Your House – This is for your actual home, including an attached garage, if you have one. The value of the land your house sits on is not included since land remains intact even when a building is destroyed.

Coverage should be for full replacement, which does not consider depreciation, current market value or inflation. Replacement coverage, as the name implies, includes the full cost of rebuilding or repairing your house.

For a ballpark estimate of your insurance needs, take the total square footage of your home and multiply that number by local building costs per square foot. A call to a local real estate agent, builders association or insurance agent should provide you with estimates of construction costs for your area.



Read more: How Much Homeowners Insurance Should You Carry? | Investopedia http://www.investopedia.com/articles/personal-finance/010716/how-much-homeowners-insurance-should-you-carry.asp#ixzz3wog1WYMp
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