Melanie Bakala - State Farm Insurance Agent

It's up to you to choose the policy and limits that meet your needs, but it's best to insure your home for at least 100% of its estimated replacement cost — the cost of repairing or replacing your home to restore its original condition. Estimated replacement cost is different from market value or purchase price. If you select a policy amount lower than the estimated replacement cost, certain policies may be unavailable to you. Periodically review your policy and limits with your agent and notify your agent of any changes or additions to your home.

A personal liability umbrella policy layers on top of your existing underlying policies to provide extra protection when home and auto liability limits are exhausted. Your agent can help explain how a Personal Liability Umbrella can help ensure that your family and financial health are protected in the event of a covered crash or lawsuit.

The coverage amount varies from policy to policy; check your policy for the specific coverage related to these items. Remember to notify your agent or carrier of the existence of these items and keep the rebuilding cost of these structures in mind when purchasing your home insurance policy. Detached Structures- The items inside a shed or garage may also be covered by your homeowners policy, but you might consider a Personal Articles Policy or Inland Marine Policy for some types of machinery or sports equipment (limitations apply). This type of policy protects items beyond the limitations and deductibles of a homeowner's insurance policy. You should review your personal property coverage with your agent or carrier to verify you have the correct coverage for your personal property. Swimming Pools-Whether you already have a swimming pool or are thinking about getting one, review liability coverage options with your insurance agent or carrier.

In short, renters insurance covers what you own. Most landlords' insurance covers only the building and damages due to negligence. Coverage for some of the most common causes of property damage and loss, such as theft, vandalism and fire, is entirely up to you. Without renters insurance, you may have to bear the financial burden of a loss on your own. Most renters' belongings cost more than they think. In fact, the average person has over $35,000 worth of belongings that are probably not covered by a landlord's policy. Take a moment to add up the approximate cost of your computer, television, stereo, furniture, jewelry and clothing. If a fire gutted your apartment tomorrow, would you have the cash to replace it all?

Factors that determine your premiums include... Your policy and deductibles What you drive How often, and how far, you drive Where you live Your driving record Your credit history Your age, sex and marital status

Unfortunately, there's no black and white answer. It depends a lot on what coverages you need and the amount of deductible you feel comfortable with. No one can predict exactly how much you'd have to pay if you cause a crash. But the key question to ask is: Can you afford to cover any damages exceeding your coverage limits? The higher your liability coverage limits, the more damages your policy might cover. To get an idea of how much liability coverage you might need, add up the value of your home, cars, savings, and investments. Then subtract your debts (what you owe). For example, if the total “net worth” was $220,000, you could consider $250,000 liability for injuries per accident. If you feel you need additional coverage, you can increase it typically in $50,000 increments up to $500,000. If you feel you need coverage beyond that, consider an umbrella policy.

Figuring out how much life insurance you might need starts with looking at what and who you want to protect, and that often depends on what life stage you’re in. • If you’re newly married or a young parent, your income may be what you primarily need to protect. So if something happened to you, you could leave enough behind to help your spouse or family replace the lost income for a certain amount of time. • If your family is growing and you’ve purchased or upgraded your home, you may need to add additional coverage for some of your bigger assets. You might also be thinking about protecting your children’s future education needs. • If you’re going through a divorce, there are several factors to consider, especially if you have children. • If you’re nearing retirement, you may start thinking about what your spouse would need to live comfortably if they live longer than you.

Many people believe that their biggest asset is their home. For most of us, our biggest asset is the ability to work and earn an income. Not being able to work – due to a job loss or a disability having taken away the ability to work – is often financially devastating. Everyone who works for a living is familiar with what can happen if they lose their job. On the other hand, the possibility of a serious disability is a risk few seem to consider. How likely is it that you will become seriously disabled? According to Insurance Information Institute, 43% of all people age 40 will have a long-term (lasting 90 days or more) disability event by age 65. The risk is real. The question is, “What to do about it?”

State Farm helps you save on homeowners insurance by offering the following discounts. Contact your agent for additional discount information. Claim Free Discount - You may qualify for homeowners discounts when you have a claim free history for a specific time period. Home Auto Discount - You may be eligible for a discount if you have a qualifying auto policy with State Farm. Home Alert Discount - You may qualify for homeowners discounts for using fire and burglar alarms. Utilities Rating Plans - You may qualify for homeowners discounts by updating your home utilities with a qualified contractor. Impact Resistant Roof - You may qualify for homeowners discounts by using certain impact-resistant roofing products. Automatic Sprinkler Discount - You may qualify for homeowners discounts if your home has indoor automatic fire sprinklers. Note: Insurance, coverage, and discounts are subject to terms and conditions, which vary by state and coverage.

Today’s homeowner’s policies provide protection against a number of the “perils” of modern life. A typical homeowner’s policy can cover... • Home: The physical dwelling structure and other structures attached to it. • Other structures: a detached garage, pool house,tool shed, etc. • Personal property: covers the contents of the home, such as furniture, appliances or clothing. Certain types of property may have specific dollar limits. • Loss of use or additional living expense: If a home is damaged by a covered peril, loss-of-use coverage helps meet the costs of hotel bills, apartment or rental home, eating out, and other living expenses while the home is being repaired. This policy section can also reimburse a homeowner for lost income if a room in the home were rented out. • Personal liability: Provides protection against legal liability for bodily injury or property damage if a third party is injured. • Medical payments: this section provides coverage if a third party is injured.