Category: Home Insurance

When you insure your home, you have the option to choose between insuring it for its market value or its rebuild value. So which should you choose?

Here, we discuss the pros and cons of each option in Monroe, GA and help you make the best decision!

When You Insure Your Home for Its Market Value

To put it simply, market value is what your home is worth on the current market. This is the price a willing buyer would pay for your home and is usually based on recent comparable sales in your area. The pros of insuring your home for market value include

• You’re more likely to get a payout if you need to make a claim
• It can be easier to sell your home if it’s insured for market value

The cons of insuring your home for market value include:

• Your premiums will be higher
• If your home is undervalued, you may not get the full payout you’re entitled

When You Insure Your Home for Its Rebuild Value

The rebuild value of your home is how much it would cost to completely rebuild your home from scratch. This is usually lower than the market value, as it doesn’t take into account the value of the land your home is built on. The pros of insuring your home for its rebuild value include:

• Your premiums will be lower
• If your home is undervalued, you may not get the full payout you’re entitled to

The cons of insuring your home for its rebuild value include:

• You’re less likely to get a payout if you need to make a claim
• It can be harder to sell your home if it’s only insured for its rebuild value

So, which option is right for you? Ultimately, it depends on your individual circumstances. If you have a mortgage on your home, your lender will usually require you to insure your home for at least its rebuild value. However, if you own your home outright, you may want to consider insuring it for market value so that you’re more likely to get a payout if you need to make a claim. Talk to Atkinson Casey Agency to discover the best option for your home.

Give Us A Call

If you’re not sure how much your home is worth, Atkinson Casey Agency in Monroe, GA can help. We specialize in home insurance and can provide you with a free, no-obligation quote. Contact us today to get started.

After buying or building your home, the next essential step is getting a plan to protect it against unexpected risks. Home insurance will protect your home from several things, including fire, liability claims, thefts, and much more. However, before you sign that policy, you need to have all the facts about home insurance. At Atkinson Casey Agency, we’ve seen it all regarding claims. We are here to help you understand at least four facts you should know before buying your home insurance policy.

4 Facts You Should Know About Home Insurance

• There are different types of coverage: Home insurance has several coverages tailored to your needs. We have liability coverage, for example, personal belongings and additional living expenses. Make sure you read the policy well.
• Home insurance has exclusions: You need to know about the exclusions of home insurance. Flooding, for example, is not covered by your home insurance. If you live in a flood-prone area, you need to buy a separate flood insurance policy.
• Know the value of your home: If your house gets destroyed by a covered peril, your insurance will only replace the maximum insured amount. Be sure your insurance is sufficient. Otherwise, you may have to hang with the burden of funding the extra cost.
• Invest in security and safety: Safety and security equipment is an excellent way of mitigating risks like theft and fire. Having these systems in place may help manage your home insurance premiums. Besides that, installing your home security and safety system offers peace of mind.

Home insurance in Monroe, GA 

For most people, their homes are the most valuable investment they will own. With this in mind, having a sound protection plan is key to safeguarding it. With the many myths about home insurance, you need to have your facts right by partnering with a knowledgeable insurance agent. Ready to purchase your home insurance in Monroe, GA and its surroundings? Look no further than Atkinson Casey Agency. Contact us today for an affordable quote.