Your Huntington, MD home needs homeowners insurance yo ensure you can rebuild, replace, or repair any damage caused by a covered event. But how much coverage do you really need? Use these guidelines from the experts at Monterey Insurance Group Inc. to ensure you have plenty to of insurance coverage for your home.
Do You Own Any High-Valuable Items?
Your policy payout limit includes everything in your claim. That means if your total loss goes over the amount of your coverage, you could be left paying out-of-pocket for some of your stuff. This is especially important for those who keep a lot of high-value items on their property. Consider increasing your limits for your vintage guitars, expensive equipment, and other high-priced valuables.
Does Anyone Share Your Financial Responsibilities?
Is your home situated on a shared lot or part of a larger complex? Parts of your property might be covered by other policies if you’re part of an HOA or another cooperative. Talk to your property manager to find out what you might need special coverage for.
Do You Participate in High-Risk Activities?
From parkour practice to homemade race cars, there are an endless variety of activities you can enjoy on your property. However, some of them present more risk than others. If your property is used in any commercial activities, for team sport practice, or other events that might result in injury or accident to you or your visitors, it’s best to revisit your policy limits before a catastrophe occurs.
Monterey Insurance Group Inc. carries homeowners insurance for residents in the Huntington, MD area. Contact us for more information on protecting your property with the right insurance coverage.