How to Get Low Cost Homeowners Insurance in Vermont

How to Get Low Cost Homeowners Insurance in Vermont

Homeowners insurance covers your home against damage from fire, vandalism, theft, and Vermont storms and winters. Without it, you risk losing everything you own. Here’s how to get low cost Vermont homeowners insurance.

What Homeowners Insurance Covers

Homeowners insurance covers:

Your home – Homeowners insurance will pay to repair or rebuild you home after its been damaged or destroyed by a fire, by a plumbing leak, by vandalism, or by snow or storm damage. Standard policies do not cover flooding, but you can get it from the Federal Insurance Administration (fema.gov).

To estimate the amount of home coverage you need, multiply the square footage of your home by local building costs per square foot. You can get the local building costs in your area from an insurance agent, a real estate agent, or a builder.

There are two types of homeowners coverage – 1. Actual cash value coverage, which pays to replace your home or personal possessions minus a deduction for depreciation, and 2. Replacement cost coverage, which pays the actual cost of replacing your home or personal possessions.

Your possessions – Homeowners insurance will pay to replace your personal possessions after they’ve been stolen, or damaged. Standard policies provide personal property coverage equal to 50% to 70% of your home insurance coverage. To determine if this is enough coverage, add