When you buy a home, it represents your hopes and dreams. Homeowners understand that the best way to protect their investment is to buy home insurance. If your home is near Hershey, PA, our team at Options Insurance Agency can help you to choose the best home insurance options. We’ve been working with homeowners like you since 2006.
Do You Know About the 80% Rule?
One consideration in your purchase of home insurance will be your policy’s amount of coverage. According to Flood & Peterson, most insurance companies follow a guideline known as “The 80% Rule.” This guideline states that adequate coverage for your home should amount to at least 80% of your home’s total replacement value. That value is based on the cost of replacing your home, from the ground up, using current costs for materials and labor.
A discussion with one of our experienced agents can help you to better understand how to apply this 80% Rule to your policy. If your policy’s coverage is less than the 80% guideline, and your home is damaged, your insurance carrier may reduce the amount of your insurance claim payment. You would then be responsible for the rest of the amount needed to repair the damage to your home. Any of our experienced agents can help you to understand how this rule will affect your policy.
Call Us Today for Your Appointment
There are many other vocabulary terms related to home insurance. Our team at Options Insurance Agency can help you understand those terms well enough to make an informed choice. Homeowners in the Hershey, PA area are ready to spend the time you need to evaluate your home insurance options. Give us a call today, and help us to help you protect your investment.