How Much Insurance Is Enough?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 16, 2021

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Most of us find that “enough” means enough to replace or rebuild your home. Though the insurance industry standard is to write home policies for at least 80% of the home’s value, you don’t want to be underinsured. It’s often a better idea to increase the policy limits to 100% and offset the increase in cost by raising your deductible amount. For example, instead of insuring a $100,000 home for $80,000 worth of dwelling unit coverage with a $200 deductible, consider insuring the home for $100,000 with a $1,000 deductible. You may be able to afford a $1,000 loss as opposed to a $20,000 out-of-pocket loss.

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