Your home insurance policy is most often made up of the specific options you choose. How much you'll pay for your policy depends on:
- Options you select - Often home owner insurance options are priced individually, so how much you'll pay for your policy depends on what coverages you buy.
- How much you want to cover - Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
- Where you set your limits - You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
Worried you aren't completely covered? Consider an umbrella insurance
policy that extends your coverage.