Homeowner Insurance Tips For First Time Buyers

Tips to Buying Homeowner Insurance

Shopping for homeowner’s insurance can be stressful. You have to figure out exactly how much and what kind of insurance your home needs, as well as keeping in mind what you are able to afford. Here are some tips for people looking at purchasing homeowners insurance for the first time.

Determine your insurability:

Know all the information about your home that can affect your insurance policy so you can get the best rate. Some information you should know is:

  • When the home was built
  • How old the plumbing and electrical systems are
  • Why type of roof you have
  • The square footage of the property
  • The number of claims that have been filed on the house over the past 5 years
  • The risks associated with the area the home is located in

Deductibles:

You can save yourself some money if you have a higher deductible. Insurance companies tend to give discounts when your deductible is at $500 and the discounts increase as the deductible increases, usually going up to $10,000. Check with your lender about a possible discount before you opt for a higher deductible.

Policy Options:

You can usually tailor your insurance policy to suit your individual needs. You could add liability coverage if your home includes something that could cause bodily injury or someone who is more likely to cause property damage. You can get more or less protection depending on your own personal insurance needs.

Discounts:

Make sure you are getting all the discounts that you are eligible for.

  • If you have an alarm or security system, you may be able to get a discount of up to 10%.
  • If you are older and not afraid to admit to your age, you may qualify for a senior discount on your insurance policy.
  • If you bundle different insurance policies with the same company you may be given a certain percentage discount on all of the policies.

Contact North American Advantage Insurance Services for all of your homeowners’ insurance needs. Protect your large investment and give your home the protection it deserves. Let them get you a policy that is perfect for your home’s needs!