If you live in Kentucky, getting home insurance from the Whitt Insurance Agency is easy. You can use our online tool to get a quote or if you prefer to speak to an agent, give us a call. If you have any questions regarding home insurance, we are happy to help. It is also a good idea to have an annual insurance review to make sure your coverage is adequate.
Home Insurance for Replacement Value
When you are considering home insurance, you will want to figure out the current replacement value of your home. We can help with this. The replacement value is the amount it would take to rebuild the home if it was damaged. With this kind of home insurance coverage, the reconstruction brings the house back to a new condition that is similar to how the home was before it was damaged. If you bought the house some time ago, the replacement value would likely be more than you owe on it.
Some lenders require the minimum amount of home insurance before they will give a loan and for this, they only use the loan amount. Insuring a home for this minimum amount is usually not a good idea because it does not cover any down payment that you made on the home. If the home is damaged, the lender gets paid off, but you are potentially left out in the cold with no money and nowhere to go. That is why insuring your home for replacement value is recommended.
Things to Add to Home Insurance in Kentucky
Besides getting home insurance, you will want to talk with your agent at the Whitt Insurance Agency about any valuable personal items that you will keep in the home. In home insurance policies, there are usually small limits for personal items. This may not be adequate for your needs. You should increase the coverage for personal items as necessary.
Flooding is a growing issue in the world of insurance. If you live in a part of the state that has a risk of flooding, you will want to have flood insurance coverage as well. Flood insurance is a separate policy from home insurance.
Ask your agent to explain the home insurance coverage that is recommended for your needs, which includes any additional coverage that you may need to be adequately protected. Contact our office to get a quote or try our online rating tool.