If you own a home, you need to purchase home insurance. However, you do have a few options to choose from when it comes to your home insurance policy. We offer home insurance for those in Wilkes-Barre, PA at The Shay Agency.

The following are three key options to consider when you purchase home insurance.

Amount of coverage regarding liability expenses

You will be able to choose from various maximum coverage options regarding liability expenses. You might find policies offering as little as $100,000 in liability coverage or much more than $300,000. You need to calculate your liability coverage needs depending on your risk of experiencing a liability lawsuit at your property. 

Additional living expense coverage

It’s always a good idea to invest in added coverage for additional living expenses. If severe damage occurs at your property, you might be temporarily unable to live at your property. In this scenario, it’s important to invest in coverage for additional living expenses. 

With additional living expense coverage, you’ll have the rent costs for a temporary living space covered on your home insurance policy. 

Actual cash value vs. replacement cost

One of the most basic decisions you’ll make is whether you want an actual cash value or replacement cost policy. Actual cash value policies tend to be lower cost, but they also don’t provide as much coverage. Replacement cost coverage is more secure in the event of a damage claim for your property. 

Let us help you choose between various options for your home insurance solution in Wilkes-Barre, PA. We can help you learn more about your options when it comes to home insurance at The Shay Agency.