Your home is possibly one of the largest investments you will make in your lifetime. Your lender will require some basic coverage but considering the following might save you from future headaches. Protecting it with the right insurance policy should be a priority. When looking for a new home consider the following items and consult your insurance agent for quotes prior to purchase.
1.Do you have custom features in your home? Make sure your insurance policy covers them all.
2. What is the construction of your home and what was the year built? When it comes to construction, with the right materials, newer houses will usually have better discounts. Make sure you get the wind mitigation inspection done, this will provide you with an additional discount when getting your policy.
3. What material is your roof made of and how old is it?
4. Is there a basement? Water-backup coverage may be additional for homes that have a basement.
5. Will you have a swimming pool or trampoline? If so, is your backyard fenced in?
6 .Do you have other buildings on the property, such as sheds or outbuildings?
7. Where is your home located? What are the crime rates/statistics? Is the fire station nearby? All of these matter!
8. Is your home near the coast or in flood prone areas? Do you need coverage for hurricanes, or earthquakes? Additional coverage is typically required for these types of losses (perils).
9. If you have features in your home such as alarm system, sprinklers, deadbolt locks, smoke detectors, etc.. these could qualify for discounts.
10. When comparing quotes from different companies make sure you have the same deductibles and coverage, that can help narrowing down and obtaining the best options.
