The best home insurance is the one that best meets your needs. The insurance buyer who takes the time to understand the basic elements of the home insurance will have much more confidence and a feeling of satisfaction when buying insurance. The home insurance policy has existed for a long time and most of us therefore have a general idea of the functioning of the police. The more you will know about the market value of your home and on the approximate cost of its reconstruction, the better you go when you shop for the home insurance.
This type of knowledge is the basis to determine what type of policy to buy. The age of your house has a direct impact on the market value. Ancient houses built in the 1900s today have much lower market values because most of them have depreciated. The market value of an old Victorian style house can be $ 50,000, but the real cost of reconstruction of this house can be $ 200,000. The older houses whose market value depreciates are provided by fonts with real redemption value. They are often called merchant value policies. These policies will reimburse you the market value of your home in the event of total loss. Market value policy is the best owner's policy for the old house that has depreciated.
The replacement cost policy is better designed for new or under construction houses. The cost of replacing a house and the market value is almost the same. The replacement cost is applied to housing and most often to the content of the accommodation. The replacement cost will repair or replace any loss with a type and quality of similar materials without depreciation.
The best home insurance for you will be determined by the age and market value of your home. The discounts for older and more recent houses are the same. The discount on protection devices for dormant bolt locks, smoke detectors and fire extinguishers apply to two types of fonts. Fire and anti -theft alarm systems are additional discounts that could be applied to older and more recent houses. Consult our recommended insurers for more details.
