Do I have enough home insurance?

A home insurance policy is a requirement when you finance a home, and it is a good investment when your property is paid off. However, when you bought your home, the policy you picked may not be the best policy for you now. Home improvements and investments in the personal property over time increase your need for insurance. To ensure you have adequate coverage, contact Gallina and Sons serving Pittsburgh, PA. Agents are prepared to review your financial situation, make policy recommendations, and provide quotes for the coverage you need.

What should I expect from a home insurance policy? 

Invest in a homeowner’s policy that is capable of rebuilding your home if it is damaged and replacing your personal possessions. It should also provide the funds needed for temporary quarters while your home is repaired or rebuilt.

Replacement cost or actual cash value?

A replacement cost policy provides the funds to rebuild your home as it was, less your deductible. An actual cash value policy subtracts any property depreciation before you receive your funds. This can mean making compromises in a rebuild or fronting the cash to cover the gap. However, actual cash value policies are more affordable than replacement cost policies, making them attractive to individuals on a tight budget. 

What about my home improvements? 

Whenever you invest in your home — whether it’s a new HVAC system or upgraded kitchen cabinets — you need to adjust your home insurance coverage to incorporate in the added value to your home and the costs of these items. The same applies if you invest in a dining room full of antique furniture or the audio and visual equipment for a home theater room. Contact your agent to discuss changes immediately after your investment. 

Should I up my liability coverage? 

Liability coverage protects you if someone is injured in an accident on your property. If you have any assets you can’t afford to lose, consider upping your liability coverage to the maximum amount your budget allows. 

To learn more about home insurance and the level of coverage you need to protect your investment through the years, contact Gallina and Sons. We serve the Pittsburgh, PA area and are always ready to help.