Protect your humble abode with the right home insurance in Oakland.
Your home is one of the biggest purchases youâ'll buy in your lifetime. Thatâ's why itâ's important to protect it from harm with the right
home insurance in Oakland. However, sometimes when you insure your home, your coverage doesnâ't match up with your homeâ's market value. In some cases, your home is insured for more than your home is worth. However, there is a method to the madness. Learn why your home is insured for more than you could make selling it so that you can rest easy knowing that your home is well protected.
Selling Your Home:
When it comes to selling your home, your homeâ's value is determined by several factors. Your realtor ultimately determines your home's market value. Using the homeâ's appraisal, past tax records, and the market trends in your neighborhood, your realtor comes up with a number that he or she thinks will sell your home.
Insuring Your Home:
When it comes to protecting your home, your policy is based on how much of a limit that you need to rebuild your home. In the event of a disaster, you need enough coverage so that you can rebuild your home from the ground up if you have to. The rebuilding cost is determined by evaluating building materials, the square footage of the home, local labor costs, and any special features that you home may have.
Why Theyâ're Different:
While they both put a numerical value on your home, the market value and the rebuilding costs are calculated differently. Because they use different tools to determine a value, they may differ, and so your rebuilding costs may be a bit more than your selling price.
When it comes to your
home insurance in Oakland, know that you have enough coverage to rebuild. For help finding the right policies,Â
contact the professionals atÂ
Cook, Disharoon & Greathouse, Inc. Located in Oakland & Pleasant Hill, California, we serve all your personal and commercial insurance needs.
