This question begins to get answered as soon as you ask your Independent Insurance Agent for a quote.   There are many factors that play into the coverage amount on your home insurance policy. Your insurance agent will begin by asking you several questions about your home in an effort to determine what the replacement value of your home is. 

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Replacement Value is an estimate of how much money it would take to rebuild your home at the current time.  There are several factors that go into this calculation including the age of your home, square footage of your home, type of flooring, fireplaces, quality of your bathrooms, quality of your kitchen, if you have an attached or detached garage, and if you have a deck are just some of the questions that your agent should be asking you.  Once they have gathered this information the information is put into a rating software to determine the replacement cost of your home.    

Watch this video "How do Insurance Agents determine the amount of coverage on a Homeowners Insurance Policy?" to learn more.  

Clark Carroll Insurance Agency provides Home Insurance solutions around the area of Mt. Carroll, Lanark, Shannon, Milledgeville, Chadwick, Lake Carroll, Savanna, Thomson, Pearl City, and many more areas in Northwest Illinois. And even Iowa!

Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.