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Which Homeowners Insurance Plan Is Right For You?



Your home is perhaps your most important asset, so you’ll want to make sure you’re financial stake in it is protected should an accident happen. When it comes to homeowners insurance, it’s important to choose the right method for valuation — a professional estimation of your home’s value. This will determine what you’ll receive financially should there be damage to your home.


There are important differences in valuation methods that you should understand before choosing the right coverage for you. Here are three of the most common methods:


Market Value: The price the home would have been able to obtain in the open market. While this might seem to be the fairest and most straightforward method of valuation, it does not take into consideration the cost of rebuilding.


Replacement Cost: The amount of money it would take to acquire the necessary materials and labor to repair the house to its former status.


Actual Cash Value: The replacement cost minus the depreciation the home had sustained prior to the accident.


For protection and peace of mind

Prior to choosing between market value, replacement cost and actual cash value, consult with a licensed insurance agent for your best options. Be sure to get enough coverage not just to cover the mortgage but also to replace the actual building.

When you choose Doren Insurance, you are partnering with a team of insurance experts who live and work in your community and are 100% committed to providing you with a comprehensive personalized coverage plan at an affordable rate. Home, auto, business or life insurance, Doren has you covered. For more information on our services, give us a call today.

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