Answers to Some Frequently Asked Questions:
What is cash value and replacement cost?
A cash value home insurance policy pays to rebuild your home, minus the depreciation, while the replacement cost pays to replace your home and/or possessions without any deduction.
How does a guaranteed replacement insurance policy work?
This type of home insurance offers the highest level of protection that pays the entire cost to replace your home because of a disaster, even if it exceeds your policy limit.
Does a home insurance policy cover an earthquake or flood?
A standard home insurance policy does not cover damage from a flood or earthquake, but a separate policy can be included for an additional premium.
Is home insurance required?
Home insurance is not a legal requirement, but mortgage lenders do require a policy. If your home has no mortgage, it is still a good idea to have home insurance to protect your investment.
Do all home insurance companies charge the same price?
Comparing home insurance quotes can save money. Using a third party service is an easy way to get competitive quotes form several agents in your area.