How much insurance coverage should I have on my home?

Ty Elliot - State Farm Insurance Agent | Jun 20, 2022 | Category: Insurance agency

Ty Elliot - State Farm Insurance Agent - All questions

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Ty Elliot - State Farm Insurance Agent | Jun 20, 2022

The choice is yours, but State Farm recommends you choose a coverage limit at least equal to your home’s estimated replacement cost. (The estimated replacement cost isn’t the same as the market value, which is the price you can expect your home to yield on the market.) If you choose a coverage amount less than the estimated replacement cost, you may not be eligible for certain coverages. Since no one can say what the exact cost will be to replace your home in the future, you’ll need enough coverage to account for unforeseen circumstances.

Ty Elliot - State Farm Insurance Agent | Feb 20, 2022

The insurance coverage amount is your choice. We recommend that you purchase coverage equal to or greater than the estimated replacement cost of your home. Your home's estimated replacement cost also determines which policy options are available to you.

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