You never know if and when something will happen, whether it’s a big catastrophe like a wildfire, or something less destructive. So you need to be prepared! It’s essential to choose the right company, the right price, and the right coverage for your specific situation. Homeowners insurance is really a collection of different kinds of coverage.  Such as fire, theft, liability and windstorm wrapped up into a single policy. Whether you’re a current homeowner who may need to upgrade your coverage or a potential new buyer who is purchasing home insurance for the first time, review these steps so you have the right coverage for YOU. 

How Do You Determine Coverage?

Your homeowner’s insurance coverage should be based on the square footage of your home. But it must also factor in how much it will cost per square foot to rebuild in case of disaster.  

The costs to rebuild in San Diego County are higher than the national average. So go a little higher than your insurance company may suggest.

Your insurance company will most likely require you to purchase coverage that insures 80% of the replacement value of the home.

Keep a record of everything that you have inside the home.  Things which will need to be replaced in the event of disaster. You can do this on a list or, most conveniently by video. Walk through your home and talk about what you see. Be sure to open all the drawers and closets and make note of what is in each one.

Do You Have Enough Coverage?

Get current information about what your home is worth today, and how much it would cost to rebuild it. Again, you may want to go higher to reflect the San Diego area’s average costs to rebuild.

Make sure that your homeowner’s insurance deductible is set at a price that you can afford in the event that you must rebuild or do extensive repairs to your home.

If you’ve got a special art collection or a home office with equipment and supplies, let your agent know so that they can inform you about any additional riders that might be necessary.

What About Flood Insurance?

In the San Diego area, you might not need flood insurance, but if you are in low lying areas, talk to your agent to be sure.

Do You Need to Upgrade?

For current homeowners, meet with your insurance agent to discuss what coverage you have now and let them know about any new home improvements or any new possessions that should be included in your policy.

Your agent will come out and document these upgrades, take photographs, and let you know if you will need additional coverage.

Please reach out to me with any questions or referrals.