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How Much Homeowners Insurance To Get?

Nestor M.: Good afternoon ladies and gentlemen, this is Nestor Morales with the Nestor Morales All State Agency. Here today to talk to you quickly about homeowners insurance. How much is enough coverage and how much should I insure my home for. We get this question a lot. Homeowners insurance is based upon how much it would cost to rebuild your home for same like, kind and quality. So let’s say for example a house on Main Street costs about $500,000 how much insurance should that customer buy? I always tell my customers square footage is the most important thing when determining your home owner’s coverage. In Nassau and Suffolk County it costs about $200 to $250 per square foot to rebuild a home for same like, kind and quality. So let’s say for example that house on Main Street is 1500 square feet. Times that by a replacement cost of $250 per square foot and that give you $375,000 in replacement costs. Customers should feel comfortable insuring himself for $375,000 even though the house is valued at $500,000.
So it’s very important to understand your cost per square footage in your area when determining your homeowners coverages. Since our inception in 2016, the agency has written over a quarter million dollars of homeowners premium and you can trust us to handle yours. Call the office today for a competitive comparison on your homeowners policy. We appreciate your business. Thank you for considering All State and have a nice day.