4 Insurance Tips for First Time Home Buyers

Buying a house for the first time can be as exciting as it is confusing. With so much to do, from hiring inspectors to finding the right neighborhood for you and your family, it can be easy to overlook things, but your homeowners insurance shouldn’t be one of them. These 4 insurance tips for first time home buyers will help you protect your biggest investment and could even save you some extra money on your monthly premiums.

1. Compare Companies

Never settle for an insurance company after only getting one quote. There are many factors that contribute to your monthly premium, including location of your home, your credit, distance to the nearest fire department, and many more and the prices vary from company to company. Shopping around for a number of quotes is a good idea. Start with the company that has your auto insurance first, as many companies offer discounts for bundling your home and auto policies with one company.

At CSC, we do the comparing for you and will find you the best price for your particular needs from 10 companies to save you time and money. Call us at 724-929-2300 today to receive a free quote or review of your current policy and be sure to ask about any discounts you may qualify for.

2. Take Inventory

Homeowners insurance not only protects your dwelling, but it covers all of your personal possessions as well (up to your policy’s limits). Having an inventory list of your more costly items and their prices, as well as receipts, will ensure you get the correct amount for replacing those items in the event of a claim. It is also a good idea to photograph your items. Having a concrete list will be easy to reference and you will not have to rely solely on memory.

Keep this list somewhere safe that you will have access to, regardless of the type of claim. A fireproof safe is recommended.

3. Know What You Are Covered For

When you are speaking with your agent, ask exactly what you are covered for and go over specific scenarios. For example, a homeowner’s policy does not cover you from flood damage, if you are in a location that flooding can occur you may want to consider a separate policy to protect you from those types of damages. If you are unsure about your policy, ask your agent to explain it to you. You never want to find out after an accident that you aren’t covered, so the more you understand your policy before signing, the better.

 

If you have any questions about homeowners insurance or would like a review of your current policy or a free quote, please call 724-929-2300 to speak with one of our insurance specialists and go over your particular coverage needs. Your first home is a big investment and the best way to protect it is with the right insurance policy.

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