How much insurance do I need?
- That depends on the value of your property. The more coverage you buy, the less you will have to pay out of your own pocket if you suffer a loss that damages your house or its contents.
- You also need enough personal liability coverage to protect you from claims brought against you by others.
- Your bank or mortgage company may insist that you insure your house for at least the amount of the mortgage.
- Insurers may require you to insure your house for a certain limit in order to obtain replacement cost coverage.
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