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39 Maple Ave.
New City, NY 10956
(845) 638-6200
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Homeowners Insurance

How much Homeowner’s Insurance should I carry?

Ideally, insure the home for its rebuilding cost. (How much to rebuild/replace if totally destroyed.) This is usually different than the purchase price or appraised amount. In Rockland County, the rebuilding cost is usually less than the loan amount. However, the final say of how much insurance will be required goes to the mortgage company. You can locate this text in the HAZARD INSURANCE section of your mortgage commitment letter.
Most lenders use the following wording

Insure the home for the lesser of either:	1) the loan amount
	2) the rebuilding cost

For example

Purchase price of a New City Bi Level =	$565,000
Loan amount of 80 percent =	$452,000
Rebuilding cost for Dwelling Structure =	$275,000

Strive for an insurance policy with $275,000 of dwelling coverage.

How do I determine my house's rebuilding cost?

Your insurance broker will ask a series of questions about the house to determine the proper coverage. You may find an estimated cost on an appraisal, but remember that appraisers are experts on market value; they are not contractors with expertise in rebuilding costs.

Homeowner's Insurance Quote Request

Name
Current Address
Day Time Phone
Evening Phone
Email Address
Occupation
Date of Birth

Address of Property (if different)
Purchase Date
Purchase Price
Current Loan Amount
Currently Insured	Yes No
Current Company
Current Expiration date
Current Dwelling Limit
Self Described Credit History	Excellent Average Poor
Type of Home	Single Family Multi Family Mobile Home Townhouse
Occupancy	Primary Residence Seasonal Residence Tenant Occupied Vacant
Year Built
Exterior Walls	Frame Brick Brick Veneer
Square Footage
Full Bathrooms
Half Bathrooms
Garage	Yes, Detached Yes, Attached No
Deck/Patio	Yes No
Fire Place	Yes No
Wood Burning Stove	Yes No
Central Station Monitoring Alarm	Yes No
Swimming Pool	Yes No
Dog	Yes No
Liability limits	100K 300K 500K 1,000,000
Business on Premesis	Yes No
Deductible	250 500 1000
Preferred Contact Time	Morning Afternoon Evening Anytime
Comments:
You may be contacted to verify additional information. For everyone’s courtesy please only submit serious requests.