The insurance for the house is the most important insurance you will buy, it will protect probably the largest asset you have and works as a base for multiple other coverage’s, liability for other properties, off premises theft, and excess liability. It is the hub of your insurance package and when combined with the car insurance, ensures the family is covered in any event.
Additional built in homeowner coverage’s include personal legal liability for any claims by a third party on your property, additional living expenses in the event you have to leave your house, other structures on the property and of course all your personal stuff.
The limits are of insurance are predicated on the size of the house, the quality of build and the general upkeep of the home, especially with older houses.
The JWA will always recommend insuring the house to it’s appropriate replacement value, it is vital that that number accurately reflects the per square foot rebuild costs in your homes area.