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What Every Homeowner Needs to Know about Home Insurance 

We recently sat down with Jim Himes, (a long-time AA County resident who has been in the business for 16 years) an agent with Lindquist Insurance, to answer the most common questions he receives from homeowners. Your home is your largest investment, we highly recommend reaching out to professionals who will help you with the process of protecting that investment!
  1. How do you determine Dwelling Coverage?
Your home's dwelling coverage is determined by the amount it would cost to completely rebuild the house at the current prices of construction and labor. Your dwelling coverage limit should reflect the home's true replacement cost value.
  1. What is Contents Coverage? 
This coverage is sometimes known as "contents insurance," but is usually described in most insurance policies as personal property coverage. Contents insurance helps pay to replace or repair your personal belongings if they're stolen or damaged by a covered peril, such as a fire.
  1. Replacement Cost vs Actual Cash Value
What is the difference between full replacement cost and cash value?
The difference is that replacement cost insurance pays for the full replacement cost of your items, whereas actual cash value insurance only pays for the depreciated value. With replacement cost insurance, you'll have enough money to replace your belongings.
  1. Do I need Loss of Use/Additional Living Expenses? 
It can help pay for the additional costs you might incur for reasonable housing and living expenses if a covered event makes your house temporarily uninhabitable while it's being repaired or rebuilt.
  1. What is the difference between Flood Insurance and Water/Sewer Back up?
Flood Insurance as defined by FEMAA as general and temporary condition of partial or complete inundation of 2 or more acres of normally dry land area or of 2 or more properties (at least 1 of which is the policyholder's property) from overflow of inland or tidal waters. 
What is considered water backup? Water backup damage most commonly occurs when a drain, sewer or gutter backs up, or a pump fails, forcing water into your home. This could stem from a heavy rain, debris causing a clog or even root invasion from your yard outside.

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