Hi, I’m Jamie with Insurance Connection. I have had a lot of people ask me, how much homeowners insurance should I get? I would love to share that answer with you.
As insurance agents, we take the square footage and shape of your home and place it into a program that tells us how much it would cost to build your house from the ground up, in the event of a total loss. This is called a replacement cost estimator. It accounts for the number of bathrooms in your home, the square footage, the basement, if it’s finished or not, what type of construction you have, if you have an attached garage, what type of roof you have, and all of those other things that distinguish your home from others.
We would then insure your home for the value that is calculated in the replacement cost estimator. So that, in the event of a total loss, your home would be able to be rebuilt back to the place that you were, prior to the loss. I hope that answers your question, and as always, if you have any other questions for us, let us know, and we would be happy to answer them for you.