Well, the time has come, you’re a homeowner.  You need to obtain insurance.  How much insurance do you need for your home?  You may think you need to insure your property for the amount of the purchase.

NO.

First thing you do is call an insurance agent.  I talked about this in the past.  You need a good knowledgeable insurance agent.  As I mentioned in previous articles, there are good agents and bad ones.  If an agent asks you the square footage only to determine the dwelling replacement cost, then, a red flag is raised.  If an agent asks only what the cost of the home is to determine replacement cost, that would be another red flag. 

The agent should have a list of questions to ask to determine the replacement cost.  I will list my questions below.

What is the property address?

Is the home on a hillside, slope or is there any brush nearby?

Are any trees touching the roof-line?

Has the insured had any home losses with any homes owned in the last 3 years?

Has the home in question had any losses in the last 3 years, regardless of who owned the property.

Year built?

Central heat or air?

How many stories and what style is the home?

Built on a slab or raised foundation?

What type of siding does the house have; wood, stucco, brick or vinyl?

What type of Roof and when was it last replaced?

Dimensions of porch, balconies or decks?

Interior of the house, is it wood, dry-wall paint or wall-paper?

Interior flooring, is it carpet, wood, vinyl or tile?

Skylights?

pool or spa?

Dogs or animals?

Bathrooms, how many?

Fireplace or pot-belly stove?

Other structures?

Garage, 2 car, 1 car, detached or attached?

Carport?

Basement?

Alarm systems?

Other questions asked, what deductible and what liability limit do you want.

As you can see, there are a lot of questions that need to be asked in order to arrive at the replacement cost of your home.

At www.starkquote.com, we take pride in knowing that your home is insured for replacement cost.  We also add extended replacement cost beyond the dwelling amount for peace of mind.

Remember this rule, we don’t insure the land, just the property on top of it.

As always, if you have any questions or concerns or just want an insurance quote, contact a www.starkquote.com insurance agent.  Our toll-free phone number is 1-800-654-4003

We are the experts for home and car insurance in California.