For most people, their home is their biggest investment. Usually, it is also their greatest financial asset next to their income in which its key to purchase life insurance. Therefore, it stands to reason that when you are choosing your Connecticut home insurance, it is important to know not only what type of coverage you need but also the amount of coverage that will adequately protect you and your home ( investment).
It is important to remember that many times, unless specified in your homeowners insurance policy, coverage for floods and earthquakes are considered “extra”. Yes extra meaning they are NOT included unless you add them to normal policy coverage (and at additional cost). But usually not a huge cost at all to add those additional coverages such as earthquake coverage on my personal home costs me an additional 78 dollars a year. Very small price to pay to add that amount of coverage.
Most buyers want damage protection from fire, smoke, and other related problems which is what the average home buyer worries about. But there are other circumstances which can warrant having a sound Connecticut home insurance policy. It’s important to have protection from possible theft and also from personal liability claims (which can arise from someone injuring themselves while on your property). Personal liability claims can cost you your financial future so buy 500k on your home insurance policy its about 10 dollars a year difference from 300k, its the best 10 or so dollars you spend for the protection of your future income.
There are also some simple things you can do to reduce your risk of loss and minimize the chance of damages. These include installing and maintaining smoke detectors throughout your home, installing a security system, and placing fire extinguishers in high-risk areas. These are key things YOU must have in your home to protect your most prized asset.
Also, remember that the better CT home insurance coverage you have in effect, the less financial obligation you will have in the event of a claim. If you have a mortgage, you may want to check with your lender as many mortgage companies have certain coverage requirements that they expect you to include in your policy but the best advice is to sit down and review your home insurance policy with a professional who works for an independent insurance agency.