Choosing a Home Policy

Home insurance is necessary in California with how many things can go wrong, so it’s important to pay attention to these factors in order to choose the right insurance.

• Replacement Cost: Check with an agent at Murvay Insurance to see if you are covered under 100% replacement cost. This may be recommended, even if you still don’t have a mortgage, if you want to rebuild your home after a major loss. This isn’t the market value of the house, but rather the cost to rebuild it in the event of a total loss.
• Your Deductible: The higher your deductible, the less you will have to pay on your premiums. However, you will be on the hook for your deductible if you need to file a claim. Deductibles used to be around $500 but are creeping up toward $1,000. If you can swing it, choose a deductible that is higher to save on premiums.
• High-Value Items: If you have a lot of valuables, you may need some extra coverage. Some of these items that need additional coverage include electronics, furs, jewelry, and fine arts. Be sure to get an appraisal on these items, so you can ensure that you have enough coverage.
• What’s Not Covered in Your Policy: Certain things aren’t covered under homeowners insurance in California, such as damage from earthquakes and floods. Pay attention to anything not included in your policy, so you can be sure to add it if possible or look at additional ways to get coverage.
• Your Location: The location of your home is going to matter. Homes that are near a fire hydrant may be cheaper to insure. Homes that are located in a community with a professional fire department nearby may also be cheaper than homes where there are only volunteer firefighters.

Contact Murvay Insurance to get a quote on home insurance.