ERIE, Pa., Oct. 28, 2019 /PRNewswire/ -- After making a
big investment like buying a home, don't cut corners with your home
insurance. Whether you're a first-time homeowner or more than a few
years into mortgage payments, Erie Insurance offers four
questions that will help you confidently choose the best homeowners
insurance coverage to protect your home.
![Protecting your home, and everything inside of it is important. Make sure you are asking the right questions to the right homeowners insurance. Protecting your home, and everything inside of it is important. Make sure you are asking the right questions to the right homeowners insurance.](https://mma.prnewswire.com/media/1018340/Erie_Insurance_homeowners_insurance.jpg)
- What will it cost to rebuild your home today?
Don't
make the mistake of basing your coverage limits on the price you
paid for the home. Consider getting enough insurance so you can
completely rebuild if you have a total loss.
Also, ask about a guaranteed replacement or an extended replacement
cost policy.
- How much coverage is enough to replace your
stuff?
Think about the cost of replacing your big screen TV,
furniture, sporting gear, holiday décor, clothes and more. It adds
up. Typically, personal property coverage is between 50 and 70
percent of the insurance you have on the structure of the house.
Complete a home inventory to get an idea of what you have and how
much it would cost to replace it.
- What costs will you incur if you can't live in your
home?
If you can't live in your home due to a covered loss,
you may have extra living expenses such as hotel fees, restaurant
meals, and laundry costs. Additional Living Expenses (ALE) coverage
is a standard part of most homeowners insurance policies that can
help pay temporary expenses while you're unable to live in your
home. Most ALE coverage will likely have limits, including a
limited period of time.
- What level of liability protection do you want if a lawsuit
for property damage or bodily injury is filed against you or a
family member?
As a property owner, you're responsible for
making sure your home and property are safe. If your tree falls in
the neighbor's yard or someone slips and falls on your property,
liability coverage could protect your financial assets and cover
the cost of repairs, medical expenses or your legal defense. The
liability portion of your homeowners insurance covers you, family
members or pets against lawsuits for bodily injury or property
damage caused to other people. It may also include court costs
incurred and damages awarded. Liability limits generally start at
$100,000, but you may want to talk to
your insurance agent about purchasing an umbrella policy to provide
higher liability limits.
Erie Insurance homeowners policies are built with you in
mind. We understand what your biggest investment means to you and
provide protection that will help. Reach out to a local
ERIE agent to help you choose
a policy that fits your beams, boards and budget.
Erie Insurance Group
According to A.M. Best
Company, Erie Insurance Group, based in Erie,
Pennsylvania, is the
9th largest homeowners insurer and 12th
largest automobile insurer in the United States based on
direct premiums written and the 16th largest
property/casualty insurer in the United States based on
total lines net premium written. The Group, rated A+
(Superior) by A.M. Best Company, has more than 5 million
policies in force and operates in 12 states and the District
of Columbia. Erie Insurance Group is a FORTUNE 500
company.
News releases and more information about Erie Insurance
Group are available at www.erieinsurance.com.
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SOURCE Erie Insurance