As your local Los Angeles moving and storage provider, we know just how important
homeowners’ insurance policies are when relocating. If you are in the process of purchasing a
new home, you will certainly need to take into consideration what homeowners’ insurance you
will need. Insurance providers use a generic calculation to estimate the cost of rebuilding the
home. A general risk assessment is taken considering the size, age, features, and of course the
age of the roof as well. Personal property is also considered as part of your ho
meowners
insurance policy. This portion of the policy is typically calculated as 50-70% of the rebuilding
cost.
There are two main differences when it comes to homeowners’ insurance policies. The
actual cash value of the home accounts for depreciation. The policy will not pay out the actual
cost to replace items within the home or the cost to rebuild the home itself. Instead, the items
will be given a value based on the actual worth prior to the loss incurred. Replacement cost
value policies offer a more robust type of coverage. This type of coverage will pay out the
actual cost it takes to replace any and all items in current times. This payout will apply to both
the home replacement costs and personal property involved.
As your local Los Angeles move and storage provider, we are here to help assist you
throughout any and all steps of your move. We understand how hectic a move can be and want
to make sure we remind of all important pieces such as a homeowner’s insurance policy. It is
important that you do your research and select the proper policy for your family.
