What New Homeowners Need to Know About Home Insurance

Homeowners should prepare to purchase homeowners insurance.

As a future homeowner, there is a lot to consider. While the mortgage, real estate, and moving paperwork are already piling up on your plate, it’s important that you don’t forget homeowners insurance. As reliable protection for the home’s structure and your belongings, schedule a bit of time to assess the right policy for your needs properly.

When shopping for insurance, here’s a checklist to keep you on track:

Know your credit score. Companies may consider your credit score when deciding on whether to sell you insurance – and at what price. Before applying, it’s a good idea to take a look at your credit report to ensure there are no mistakes or errors.

Gather information about the house. To get an accurate insurance quote, you’ll need to know the square footage, the number of bathrooms, the materials used for the roof and exterior walls, age and condition of the house, and the condition of the decks, patios, and garages.

Conduct a home inventory. List and record all of your items around your home in order to properly cover them. If you have items of high value such as jewelry, computers, coin collections, artwork, and musical instruments, consider buying endorsements to add or increase coverage for these belongings.

Determine what coverage you need. Buy enough coverage to replace your home if it is entirely destroyed. If your new home is located in an area that could potentially get flooded or experience earthquakes, always ask your insurance agent to add on flood insurance and earthquake insurance.

Choose the highest deductible that you can afford. Although higher deductibles will lower your premium, you’ll end up having to pay more out of pocket if you have a claim.

Get started by securing the right homeowners insurance for your future home by contacting Martplan Insurance today, serving La Habra and neighboring cities in California!