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Coastal Premier Insurance Group, Inc.

902 Clint Moore Rd. Suite 132
Boca Raton, FL 33487

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Should You Ever Decrease Your Home Insurance Coverage?

Is decreasing your home insurance a good idea?

A lot of homeowners have questions about home insurance policies and the policy limits they include. One of the questions that we at Coastal Premier Insurance Group, serving the greater Boca Raton, FL area, are often asked is whether you should ever decrease your home insurance coverage.

First and foremost, if you still owe money on your home, you may be unable to decrease your home insurance coverage. Always check with the lender to determine how much home insurance they require you to carry as part of your loan terms. 

If you do not owe any money on your home, you may be able to decrease your home insurance coverage. However, it is strongly recommended that you determine the value of your home and the value of the belongings contained inside of the house. You want to be sure that even after you decrease your coverage, there is still enough insurance to cover both inside and out. This helps protect you against a catastrophic loss, for example, if a fire sweeps through your home. If you carry less insurance coverage than the cost of your home and belongings, you will have to pay out of pocket the difference between what your insurance covers and the cost to rebuild your home or replace your belongings. Most people do not have this kind of money lying around, which is why having the right insurance coverage is so important.

If you are looking for a new home insurance policy or are wondering if your coverage amount best meets your needs, contact Coastal Premier Insurance Group serving the greater Boca Raton, FL area. We can help you determine how much coverage you need and then put together a policy that is ideal for you. Call us now to get started and have your questions answered. Also, try our online rating tool for quotes on home and auto insurance.