If you are buying a home, you may be wondering if you need house insurance. The answer is yes! Homeowners insurance protects your home against damages and losses from disasters like fires, floods, or theft. It also covers the cost of living in another location for temporary shelter after damages to your property cause it to become uninhabitable. If disaster does strike, homeowners’ insurance will help pay for any damage caused by covered events not related to normal wear-and-tear that occurs during natural disasters and other catastrophes such as hurricanes.
The cost of homeowners insurance varies based on the age and location, as well other factors such what type or property you have. If a tree falls into your yard during a hurricane for example, then there may be a hurricane deductible which is different than your all other perils deductible (aop deductible).
Get a Home Insurance Quote
The first step for getting house insurance is getting a quote. Be sure to get multiple quotes from different insurance providers before deciding. Also, if you are buying a home you may want to contact the existing insurance company. Since they are already aware of the home which may save you time and money.
Check for Any Exclusions
After you get a quote then you need to check on the exclusions. You do not want to know what is not covered after a loss. Be sure to make a thorough review of the exclusions and check if there are any limitations.
Consider the Deductible and Coverage Limits
If you are looking to buy home insurance, it is important to not only consider what deductible applies and the level of damages covered but also how much coverage there is. Most people are shocked how the premium can go lower if you raise the deductibles.
Compare Prices and Features of Different Companies
Price is always important especially if you are buying a home, but you want to make sure you are getting the best coverage for your money. You should also compare features like replacement cost coverage, water limitations and flood coverage.
You may want to contact your mortgage lender, as they will need some information from your insurance agent for the loan process to move forward. Once you have all of this figured out then it’s time sign up and get coverage!
If you would to like to discuss your options for home insurance, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.