Homeowners Insurance: What You Need To Know Before You Purchase Home Insurance

Homeowners Insurance: What You Need To Know Before You Purchase Home Insurance – Purchasing a home can be a very overwhelming process for the First Time Home Buyer or the returning home buyer! It usually consists of a thorough Credit Check, the introduction to hundreds of new “home buyer terminologies such as mortgage, interest rate, closing costs” and a hefty down payment. All in all it is worth it since you will be purchasing your very OWN HOME!!! However, since we are unable to predict unforeseen tragedies such as floods, burglary, hurricanes and other events caused by Mother Nature, one is advised and in most states, required to purchase Homeowners Insurance. Sometimes the details of this important step is often overlooked because of the pressure of the home buyer process. Home buyers often overlook what their coverage entails, the monthly premium, the deductibles and the stipulations involved in their policies. However if something goes wrong with the house, a home buyer is less likely to want to cover the charges without any assistance from the Insurance Agency. Therefore it is important to shop around and compare Homeowners Insurance Policies.
Listed are 6 Tips to obtaining the best Homeowners Insurance Rate
A? Purchase a Newer Home. (Newer homes can cost less to insure and are eligible for a “New Home Discount”)
A? Raise your deductibles.
A? Add a security system to your home.
A? Equip your home with properly functioning smoke detectors.
A? Use the same Insurance Company for your auto insurance and home insurance.
A? Compare Home Insurance Rates (Obtain rates from at least 5 Homeowners Insurance Companies.)
With the use of these tips, one should be able to save money on their Homeowner’s Insurance policy. Congratulations on the purchasing of your new home.