When you purchase a new home you typically will purchase home insurance right along with it. While it may depend somewhat on the mortgage you receive and the property you buy, home owner’s insurance will typically come right along with it. But how is your home insurance value determined? This is one of the first questions our staff here at LG Insurance Group addresses. If you live in greater Marietta, GA, our staff here will address this and all other home insurance questions you might have.
How Is Home Insurance Value Determined
The exact premium is going to vary a bit depending on what you’re looking to accomplish with your insurance and with your insurance provider. There is typically a set value amount paid per dollar your property is worth. However, there are other factors included when it comes to this. What you pay may not be what your friend pays on the other side of town. This is because the insurance provider will need to consider the cost of rebuilding the home (if you have an older home and materials are hard to come by). The age of the home will impact it if there is older wiring and plumbing. Fire protection in the area as well as the claims history will play a role as well. Finally, your personal claims history will also potentially impact your insurance coverage costs.
All Your Home Insurance Questions Answered
If you are shopping around for new home owner’s insurance, are looking to buy a property, or you’re simply wondering what kind of insurance options are available to you, our staff here at LG Insurance Group is here to assist you with all of your needs. So, if you’re interested and live in greater Marietta, GA, our staff here is just a phone call away.