How much homeowners insurance should you carry?

Answer 1

It is a good idea to occasionally review coverage limits to ensure you have the best protection you can afford and make sure they meet your current needs. With time, Retirement goals can mature, Personal Net Worth, Assets and liability exposures can grow. Future lifestyle expectations can also have changed since first purchasing insurance. It would be wise to occasionally review coverage limits and adjust as needed to match current security requirements.

One should carry enough coverage to cover the property and liability loss exposures from which one may want to be financially protected. Not everyone has the same concerns when purchasing insurance so we all have different requirements.

Homeowners Insurance is Property and Casualty coverage. Consideration should be given to the Property Valuation and the extent of coverage you want. Either Replacement or Cash Value coverage and Liability exposures associated with home ownership.

Your Insurance Agent or other company Representative would be the best source for coverage advice.