Do You Know How Much Your Home is Worth?

Do You Know How Much Your Home is Worth?

Do you know how much your investments are worth or how much money you have in a savings account? How about how much money you have in your wallet or how much your car is worth? The same should be true for your home. In fact, knowing the value of your home may be more important because it has an impact on how much insurance coverage you should carry.

Look, if you lose money from your wallet or from your investments, it is gone. If your car is damaged in an accident or totaled, your insurance company will use book values to help determine its worth when paying a claim. But with your home, you can quickly become woefully underinsured if you don’t know its value and don’t keep your coverage updated.

The key is knowing, at least on some level, how much your home is worth. You can then compare that value with the limits of your homeowner’s insurance policy. You may be coming up short. Today, it is easier than ever to determine the estimated value of your home.

If you have a high-value property, it may be worth paying for a professional appraisal every few years. This will provide you with a written, detailed property appraisal that you can use for insurance purposes. Most, however, will choose one of several no-cost options.

You can use your county property appraiser’s website with the understanding that value will likely only be a percentage of its true replacement value. You can also contact a real estate professional to look at comparable properties, or the recent sales of homes like yours in the area. You can also view a number of real estate websites to see what other homes similar to yours are listed for in your neighborhood. There are now a number of home buying services that will give you a cash offer on your home, although it likely will be on the low end of its real value.

The point is you should also at least have an idea of the value of your home at all times and make sure your homeowners’ insurance limits reflect that value. We can help.

If you have a reasonable idea of the value of your home and are interested in getting a quote on your homeowners’ insurance, contact one of our independent agents. We can search out a policy to fit your needs and budget. Don’t allow your homeowners’ insurance to become outdated. Choose to have your coverage mirror your home’s value, and we can help. Contact us today.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Search All Blogs

Generic filters

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Generic filters

Read More Blogs

Beyond Pizza and Promises: Recognizing When It’s Time to Hire Professional Movers

Time to call the pros? Learn when pizza and beer just won’t cut it for your next move.

Mapping Our Roots: Uncovering the Stories Behind American City Names

City names revealed! Discover the historical, religious, and geographical influences behind the monikers of American cities.

The Agile Approach: Why Short, Focused Plans Are Overtaking the Mammoth Business Blueprint

Ditch the doorstop plan! Discover why concise, adaptable strategies are the new gold standard for business success.

Embracing Tomorrow: The Practical Power of Planning for Life’s Only Certainty

Face the future with confidence: Understand how planning for life’s only certainty with life insurance can provide lasting security.

Steering Your Savings: Taking Control of Your Car Insurance Rates

You’re in the driver’s seat! Learn how your credit, driving habits, vehicle choice, and smart shopping can lower your car insurance costs.

Underfoot Upgrade: Transforming Your Garage Floor from Forgotten to Fantastic

Don’t ignore your garage floor! Discover easy and impactful ways to upgrade this often-neglected area of your home.

Unwrapping the Wiener: A Deep Dive into the History and Lore of the Hot Dog

Beyond the bun: Discover the surprising history, varieties, and enduring appeal of America’s favorite tubular treat.

The Untapped Power of Collaboration: Why Asking for Help Fuels Business Success

Stop going it alone! Discover how leveraging the expertise of others can relieve pressure and drive your business forward.

Navigating the Grandparenting Journey: Understanding Today’s Families

Grandparenting today: Learn key shifts in family dynamics to build stronger connections with your children and grandchildren.

Mapping Our Paths: The Fascinating Reasons Behind Our Road Networks

The story behind the asphalt: Explore the geographical, historical, and planning influences that shaped our modern road systems.