Call Us 502-348-5921 ☰ ˟
Logo
Call Us 502-348-5921 to get your personalized insurance quote
  • Home
  • Get A Quote
    • Automobile
    • Bonds
    • Business & CommercialImage of right arrow
      • Group Health & Employee Benefits
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Workers Compensation Quote
      • Commercial Auto Insurance Quote
      • Surety Bond Request
    • HealthImage of right arrow
      • Health Insurance Quote
      • Health Instant Humana Quote
      • Health Instant Anthem Quote
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Homeowners Insurance Quote
    • Life
  • Customer Service
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Add Vehicle to Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Add Driver to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
      • Update Contact Information for Auto Policy
    • Business & CommercialImage of right arrow
      • Request a Certificate of Insurance
      • Request a Business Policy Change
      • Update Contact Information for Business Policy
    • HealthImage of right arrow
      • Request Declaration and Coverages Page for Existing Health Insurance Coverage
      • Request a Health Policy Change
      • Update Contact Information for Health Policy
    • HomeownersImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
      • Request a Mortgage Change
      • Update Contact Information for Homeowners Policy
    • LifeImage of right arrow
      • Request Declaration and Coverages Page for Existing Life Insurance Coverage
      • Request a Life Policy Change
  • Claims
    • Other
  • Blog
  • Make a Payment
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About First Insurance Group
    • Our Locations
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Home > Blog > 6 Things That Help Determine Home Value For Insurance Protection
WEDNESDAY, NOVEMBER 18, 2015

6 Things That Help Determine Home Value For Insurance Protection

Home InsuranceWhen it comes to determining how much home insurance you need, you may be wondering what goes into the process of estimating your home's actual value. Home insurance can generally only cover your home up to its value. However, establishing that base value can be tough.

Most often, insurance providers use a comparative market analysis for your immediate area to determine value. Your mortgage debt can be a factor as well. In short, your home is compared to others that have sold or were priced recently and adjusted based on its features. Some of the key areas in which your home's value can be impacted include the following:
  1. The size of your home, specifically the number of rooms and square footage, will impact its value. Insurers need to know just how expansive the home is.
  2. The more square footage, the more value is assessed. Square footage will include the whole home, including the basement in most cases.
  3. The home's style is also a factor. Modern looks tend to add more value to a home.
  4. Local construction costs can play a role in this decision as well. If you have replacement home coverage, this means the insurer can pay to have the home rebuilt. However, it's important to consider that Construction costs will vary significantly from one area to the next.
  5. Additional structures on the property can also impact home value. For example, if you have a separate garage, barn or outbuilding, these structures will also need to be covered by insurance. Therefore, their combined value needs to be factored into the value of your home.
  6. Special features do matter. Whether it is a large, built-in patio or an add-on sauna, these additional features impact the value of your home.
As a homeowner, your expectation for home value is generally different than what your insurance provider may estimate. Nevertheless, your home insurance policy needs to be comprehensive enough to protect your investment.

Have you assessed your home's value? Call First Insurance Group at (800) 511-2892 for more information on Kentucky home insurance.
Posted 11:00 AM

Tags: home insurance, value, factors, size, style, structures, kentucky, insurance, kentucky insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014

  • insurance(72)
  • kentucky(58)
  • tips(44)
  • business insurance(42)
  • coverage(32)
  • safety(21)
  • savings(18)
  • auto insurance(18)
  • home insurance(17)
  • somerset(16)
  • health insurance(15)
  • life insurance(15)
  • lexington(15)
  • richmond(14)
  • frankfort(13)
  • first insurance group(12)
  • health(10)
  • virginia(9)
  • bardstown(9)
  • bonds(9)
  • workers compensation(9)
  • nicholasville(7)
  • kentucky insurance(6)
  • general liability insurance(6)
  • commercial auto insurance(6)
  • car insurance(5)
  • lexington business insurance(5)
  • liability(4)
  • surety bonds(4)
  • protection(4)
  • homeowners insurance(4)
  • workplace safety(4)
  • fitness(4)
  • small business insurance(3)
  • security(3)
  • finance(3)
  • back pain(2)
  • trucking insurance(2)
  • lexington health insurance(2)
  • worker's compensation(2)
  • home insurance lexington(2)
  • workers comp(2)
  • winter(2)
  • workers compensation insurance(2)
  • risks(2)
  • flood insurance(2)
  • insurance types(2)
  • medical(2)
  • bop(2)
  • business(2)

View Mobile Version
Contact us
502-348-5921
Quick Links
Home Our Products Customer Service Payment Options Report a Claim About Us Our Carriers Partners Blog Contact Us
Locations

Bardstown

107 Lincoln Way
Bardstown, KY 40004

Phone: (502) 348-5921

Frankfort

Our Virtual Office
Frankfort, KY 40601

Phone: (502) 223-5100

Nicholasville

508 North Main St, Suite C
Nicholasville, KY 40356

Phone: (859) 885-9454

Danville

811 S Fourth Street
Danville, KY 40422

Phone: (859) 236-5192



Twitter Icon Facebook Icon LinkedIn Icon Google Icon


© Copyright. All rights reserved.
Powered by Insurance Website Builder