To determine the value of any home, the best practice is to have a home appraiser out to the location and to allow for a thorough evaluation of the property. However, for insurance purposes, this may not be necessary. For homeowners in Matthews, North Carolina, or the surrounding area, it is possible to get some help from an independent agent on estimating this value.

Factors to Consider

For insurance needs, the homeowners policy should cover the value of the home as a replacement value. If the home were to burn down, for example, the homeowner would likely want to rebuild the property. The value of the home, then, must take into consideration the cost of rebuilding it by today’s standards.

In addition to this, an insurance policy should also take into consideration any valuables in the home that would need replacing. This includes basic items, like furniture and clothing. It also includes appliances. In many cases, homeowners need to up the value of their home to include any highly valuable items in the space, including electronics, collectibles, and jewelry.

Getting the Right Figure

By working closely with an insurance company in Charlotte, Concord, or the surrounding area, it is possible to get an accurate estimate of the home’s value. In addition to this, individuals may wish to compare similar properties in the area. Talking to a contractor can also provide specifics about hard-to-value homes.

The key is not to focus just on the home’s value, but also on the cost to replace contents and to actually do the building of it. All of these factors play a role in determining how much insurance a home should have to ensure it is protected from unknown risk factors.