What Should You Ask When Requesting Home Insurance Quotes in Westborough, MA?

by | Apr 15, 2016 | Insurance


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Massachusetts homeowners are required to maintain homeowner’s insurance policies for any property that is financed through a mortgage. These policies also provide protection after the mortgage is paid off. Homeowners who wish to acquire Home Insurance Quotes in Westborough MA should ask certain questions about the policies. The answers determine if they have found the right policy for their property.

What is the Total Replacement Value?

The total value is listed in a homeowner’s policy in one of two ways. It is either the true replacement value or the market value. The true replacement value is the exact value needed to rebuild the property after it is destroyed. The market value is the price at which the property is expected to sell in the current market. The difference between these values could equate to a financial loss for the homeowner. For this reason, it is more advantageous to acquire the true replacement value through the policy.

How Much Coverage is Provided for Personal Items?

Personal items such as clothing are grouped together in these policies. The value isn’t the same as the actual value for these items. On average, the homeowner could expect to receive a lump sum value for these items. If they possess clothing or similar items of a high value, they need additional coverage.

Are Riders Necessary to Protect Valuables?

A rider provides protection for valuables. The homeowner could use them to acquire the exact value of certain items. These items may require an appraisal to go with the rider. This prevents a potential loss if the item is destroyed, lost, or stolen.

What Value is Available for Temporary Living Expenses?

These expenses are based on the value designated by the homeowner. They provide funds when the homeowner cannot stay in the property due to damage. They are limited to the value chosen by the homeowner.

Massachusetts homeowners should evaluate insurance opportunities thoroughly. These assessments determine if they are protected fully when the unforeseen occurs. Local agents can help these homeowners by providing details information. Property owners who need to acquire home insurance quotes in Westborough MA should contact today.

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