As you take a closer look at your current home insurance policy, you have to ask yourself the hard questions. Is this really enough coverage? Is this going to protect your family in the event that your home is lost? After all, if you have to have homeowners insurance, you want it to be enough to protect you from a variety of risks. Oftentimes, it pays to take a very close look at your existing policy with the help of your insurance agent in order to determine just how well it fits your unique needs. There are a few key things to look for in these policies. 

Cover Your Mortgage 

Your mortgage lender will most likely require that your home insurance coverage amount be enough to cover your existing mortgage. Generally, the lender also wants to ensure that your home's policy is enough to rebuild or replace the home in the event of a total loss. Therefore, a good place to start is to consider the value of your home. 

Keep in mind you shouldn't consider just the market value of your home. Oftentimes, construction costs are higher than the value that you could get if you were to sell your home today. Therefore, it's important to look at the replacement value that should cover the entire construction process. 

What Additional Coverage Do You Need? 

Now you have the actual property covered. However, your home insurance needs to offer more than just this. It needs to also provide extensive coverage for other risks you face. This should include personal liability protection in case someone falls or otherwise suffers a loss that you are responsible for in some way. Additionally, your policy should offer coverage for the contents of your home, as well as policies to cover any valuables you may have such as art, jewelry and electronics. 

Estimating the value of your home insurance policy can be difficult. That's why you should work alongside a trusted insurance agent to determine what level of coverage is actually best for you. In short, you need to protect the structure, your valuables as well as your personal liability. This can help ensure that you are not at a financial loss should a loss occur. Protecting your family and your home through a quality home insurance policy can make a big difference, but that plan needs to be enough to meet your needs. 

Get personalized assistance today. Call Anthony Mercado Agency at (610) 530-2001 for more information on home insurance.