After purchasing a property, protecting your space and personal belongings is important. Having the right coverage in the case of emergencies can offer financial peace of mind. This article provides a brief guide for choosing homeowners insurance to protect your space.
Calculating the total cost of your home and assets helps in choosing the appropriate amount of coverage. The coverage limits should be enough to rebuild your home and replace personal items if needed.
Insurance companies use a calculator to figure out the total worth of your home. From there, most offer around 50% of that amount to cover personal belongings.
There are many types of homeowners insurance. Some offer personal property coverage and liability coverage. Others are very limited and only offer enough coverage for the structure of a property.
An HO-3 is the most common type of homeowners insurance. It offers liability insurance, dwellings coverage, funding for personal property and more.
Having additional living expenses coverage secures your well-being if you’re displaced from your home as it’s getting repaired. For example, if a fire damages your home, repairs may take a while. Additional living expenses coverage would pay for you to stay in a rental.
The right insurance company will offer policies covering all of your property. Speaking with a local lender can help you explore different coverage options.
Sergio Evora is a Broker Associate at BrokerNation Real Estate and has been acknowledged as the #1#1 Top Producer for his Company. Sergio was recognized # 1 Real Estate Agent for Total Sales Volume and Total Closed Transactions for 2020, 2021 and just recently in 2022.
With over 28 years of Residential Real Estate experience, Sergio has built a reputation for achieving superior results for his clients. He assists buyers & sellers by utilizing his extensive knowledge of Miami’s investment opportunities, market knowledge, digital advertising, marketing expertise, keen negotiating skills and wide-ranging connections. Sergio’s extraordinary principles and ability to generate successful transactions is leading his clientele to consistently look to him for high-quality service. He is a Member of The Institute for Luxury Home Marketing with access to an extensive referral network.
Sergio’s passion is his family, volunteering, travel and his business.
