What factors should be considered when purchasing homeowners insurance?
Your home needs to be covered at the replacement cost that the company determines would be necessary to rebuild your home. If it is insured at less than 80% of the replacement cost you will be subject to a coinsurance penalty. Also, you will want to determine the amount of personal property insurance and personal liability coverage that you need. Next, you will need to decide on any additional endorsements you want to add. For example, do you need additional coverage for jewelry or do you want the earthquake endorsement?
