Selecting your home insurance policy is one of the most important decisions you make when you buy your home. At Insurance Center of Green Valley, we offer home insurance policies in Green Valley, AZ.
There are a few things you need to know about purchasing home insurance before you get started. The following are three things you should know before you purchase home insurance.
You’ll need to choose between replacement cost or actual cash value.
One of the biggest distinctions in home insurance policies is the distinction between replacement cost and actual cash value policies.
A replacement cost policy will cover you to replace your home or any part of your home that becomes damaged. An actual cash value policy will simply compensate you for the current value of your home minus depreciation.
Actual cash value policies are generally less expensive than replacement cost policies.
You’ll be able to choose from among different deductibles.
One big choice you’re going to make is how much you want your deductible to be. Remember that your policy will be less expensive if you choose higher deductibles.
Your policy isn’t going to cover everything.
Those who are first-time homebuyers are often surprised that a standard home insurance policy leaves out so much. Damage caused by issues like flooding or damage caused by inadequate home maintenance will not usually be covered.
While add-on coverage might be available for some of these issues, it’s basically impossible to have a home insurance policy that’s so thorough that it covers everything.
If you have questions about home insurance options in Green Valley, AZ, let us know. We’re here to help you with your home insurance needs at Insurance Center of Green Valley.