SEATTLE, Wash. - Buying your first home is a huge step. It’s exciting and nerve-racking all at the same time. Finding the home of your dreams is only the start. There are a number of things to consider, from financing, to inspections, closing dates to moving - the list goes on. One thing is for sure, finding and securing home insurance is a critical part of the buying process. Here are a few things to keep in mind along the way.
Don’t Skip the Home Inspection
- Experts say this step is worth the cost – it’s key to understanding what potential threats your new home could face. These threats may be factored into what type of insurance you choose to buy.
Why Home Insurance Matters
- Your home is an asset you’ve worked hard for and it’s worth protecting.
- Homeowners insurance keeps you protected against theft, liability, provides overall peace of mind.
- It’s the perfect time to start thinking about and planning for natural disasters like earthquakes, floods, and major weather events.
Know the Basics
- Homeowners insurance protects you from damage caused by fires, as well as sudden and/or accidental events.
- Most standard home policies do not cover natural disasters or construction.
- Depending on potential threats to your new property, there is additional coverage you can purchase to properly protect your assets.
- Based on location, your home may be at an increased risk for natural disasters. Check public records to see what natural disasters your property could encounter.
- Understanding what your policy does and does not include is essential.
Tips to Save
- Bundling your auto and home policies with one insurance carrier often provides discounts.
- Credit score may be used to help determine the cost of your homeowners insurance. Poor credit scores can cause a significant increase in the cost of homeowners insurance.
- Consider buying home insurance a top priority in the purchasing process. If you wait it may not leave enough time to find a comprehensive policy, and it can also delay your closing date.
While you’re searching for your new home, give your insurance agent at ISG a call. We’ve been there as first time home buyers and we want to lend a hand in the process, protecting you the way we know best – with insurance!