Purchasing insurance can be a daunting ordeal, full of loaded questions and difficult decisions. In this not-so-easy process, it can be super useful to do some thorough research, so you can stay safe without breaking the bank. Here are some things to chew on when getting home insurance quotes in Connecticut.
Rebuilding a Home
However tempting it may be to spend as little money as possible on insurance, you may want to consider thinking about the future costs of unforeseen circumstances. According to a 2008 survey conducted by Marshall & Swift/Boeckh (MSB), it appears that 64 percent of U.S. houses are undervalued with respect to their insurance, and of that 64 percent, the average person can only rebuild 81 percent of his or her home with the insurance provided. It is, therefore, important to calculate the amount of money it would cost to rebuild your home in the unfortunate event that a storm like Hurricane Irene comes to the New England coast.
When shopping around for home insurance quotes in Connecticut, it’s worth thinking about the occasional flood and the related costs. Many assume that homeowners insurance includes coverage against damages incurred by flooding, but this is generally not the case. Be sure to ask the insurance provider who is giving you the quote whether or not flooding is covered. Above all, it’s important that you don’t take this decision lightly and that you judiciously weigh all the options available to you.