Using the Homeowners Insurance Report to Gauge Your Insurance Coverage

By Bluehammer Admin

When it comes to knowing how much homeowners insurance you need, running the bluehammer Homeowners Insurance report gives you insight into the potential costs to rebuild your home and the value of your home contents.

Homeowners Insurance 101

If you are a homeowner then you probably already know about homeowners insurance since most lenders require that you have coverage. At it's most basic, homeowners insurance is provided to protect both the cost of rebuilding your home and to recoup the cost of your personal belongings should they be lost.

What's Included in the Homeowner Insurance Report from bluehammer?

Reading the Homeowners Insurance report is simple. Below are the numbers included and what they mean:

Estimated cost to rebuild your homeThis number is the estimated cost of what it would take to re-build your home in case of a fire or flood or other covered loss. This number is NEITHER the market value of your home nor the amount of principal left on your mortgage.
Value of your home inventory items This is the total value of any home inventory items you have entered in the My Home Inventory tool in the My Bluebook site. If you have used the tool to inventory your personal items, this will give you a good idea of the value of your personal belongings should they be lost.
Upgraded costsThese are costs to add if you made upgrades to your kitchen or bathrooms. The costs provided are the difference between the current estimated price to re-build that area and the upgraded price for that area.
Additional costs to considerThese are additional structures that can add to your total estimated insurable cost. We have included average sizes for these additional costs and your dimensions might vary.

How do I use these numbers?

Simply add the estimated cost to rebuild your home and the value of your home inventory items plus any of the upgraded or additional costs that apply. Once you have your total, you can use that as a guide against your current coverage to see if you are under or over insured. Note: This is a guide and isn't a definitive homeowners insurance number or offer of insurance and you should always consult your insurance agent about your homeowners insurance needs.

How do I run my Homeowners Insurance Report?

Running your report is easy, just follow the steps below

Sign up for bluehammer if you haven't alreadySign up for bluehammer is free, requires no personal information and you can run your report as many times as you need should you change your Home Inventory items.
Add items to your Home Inventory (optional)Inventory your personal property using the My Home Inventory tool. The tool gives you categories helping you figure out what items should be added. If you do not add any items, you can still run your Homeowners Insurance report and your value of your home inventory items number will be $0
Run your homeowners insurance reportClick on the My Reports tool and select the homeowners insurance report option. Follow the quick 3 steps of questions about your home.
That's it!Start to finish it shouldn't take more than a few minutes and you now have a solid number to gauge against your insurance needs.

Want to estimate your home improvement costs before talking with a contractor? Claim your home for free with bluehammer to estimate costs, secure your home inventory and learn more about your home.

* THIS REPORT IS AN OPINION THAT MAY BE INACCURATE AND IS PROVIDED SOLELY AS AN INFORMATIONAL TOOL NOT DESIGNED TO PROVIDE DEFINITIVE ANSWERS. ALL ELEMENTS ARE OFFERED "AS IS" AND BLUEBOOK EXPRESSLY DISCLAIM ANY AND ALL WARRANTIES, REPRESENTATIONS, AND GUARANTEES OF ANY NATURE, EXPRESS, IMPLIED OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABLITILY, NONINFRINGEMENT, TITLE, QUIET ENJOYMENT, ACCURACY, OR FITNESS FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL BLUEBOOK (OR THEIR SUPPLIERS) BE LIABLE FOR ANY GENERAL, DIRECT, SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES OF ANY KIND, OR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION, THOSE RESULTING FROM USE OF THE PRODUCT, INCLUDING : (1) RELIANCE ON THE MATERIALS PRESENTED, (2) COSTS OF REPLACEMENT GOODS, (3) LOSS OF USE, DATA OR PROFITS, (4) DELAYS OR BUSINESS INTERRUPTIONS, (5) AND ANY THEORY OF LIABILITY, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF INFORMATION) WHETHER OR NOT BLUEBOOK HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.