how much coverage for home I need Help please!!

in the process of searching for homeowners insurance
our house appraised at 295,000
we are paying 292,000

The quotes I am going back and forth with are about a 500 dollar a year difference....

one covers the property for up to 240000
hurricaine deductible is 5% with a hurricane deductible amount of 12000??

what does this mean????

(this one is more) the other quote is for 290000 cost of rebuild 40,000 less personal property
20,000 less loss of use
4000 less medical payments
wind deductible 0
hurricaine 5%


Which is the better quote??

I have no idea how much coverage we should have and i feel like each person I speak to at the insurance agencies is saying theres is the best obviously b/c they want to sell us the coverage

TIA

Re: how much coverage for home I need Help please!!

anyone????

how much coverage for home I need Help please!!

When you buy a house (and what the house is appraised for) is for the house, garage, the property itself, the location of the property, school district etc.

When you have insurance the coverage is for structures only. so the amount will be less then the total appraised price. Usually cost to rebuild is figured at $300 per square foot (different companies are different when calculating this) It also matters if you have a finished basement, central heat/ac, more bathrooms, bedrooms, an attached/built in garage.

You personal property is usually a percentage of that, as is you coverage for other structures (detached garages, sheds)

Hurricane deductable is generally for catagory 2 or higher. Which is standard for most companies.

As far as which coverage is better, maybe call a few more places and see what other quotes you get. Also, call a broker, sometimes they explain things a bit better. Ask the same questions and see how the answers compare.