How much homeowners insurance do you need?
Could you rebuild if a tornado or fire destroys your home? Some experts say half of all homes may not have enough insurance. Here are tips to make sure you have the right amount of coverage.
What it would cost to rebuild my home?
This is not the same as the real estate price, or market value. The rebuilding cost is based on what kind of home you have and local construction costs. The rebuilding cost is sometimes called replacement cost. Your insurance agent can help find out your rebuilding cost.
Should my insurance coverage match the rebuilding cost?
You can find your policy limits on the front page of the policy or ask your agent. If the amount is lower than the estimate to rebuild, you may need to make changes.
How often should I check your insurance coverage?
Check your coverage when you renew your policy each year. You should also talk to your insurance agent if you remodel or make upgrades. A new deck, garage, or kitchen can increase the cost to rebuild.
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• How do you make a home inventory?
00:00 Do you have enough home insurance?
00:14 What are rebuilding costs?
00:31 Is your home insurance policy limit too low?
00:43 Can rebuilding costs change?
00:55 Can home insurance premiums change?
01:03 For home insurance questions, call 800-252-3439 or visit http://www.tdi.texas.gov
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