Buying a new home? Protect it! We can help you find the right coverage for one of the most important purchases you’ll ever make.
Homeowners insurance is designed to help pay to repair or replace your home and/or belongings if they are damaged by certain perils, such as fire or theft. Homeowners insurance covers a wide range of disasters but does not cover damage by earthquakes or floods. Separate insurance policies are available to help protect your home and belongings against those types of risks, and we can help with those, too.
In addition to providing coverage for your home and belongings, homeowners insurance typically provides liability coverage as well. That’s extremely important coverage designed to protect you in the event someone who isn’t a member of your household injures themselves on your property. Each type of coverage in a homeowners insurance policy is subject to a limit. That’s the maximum amount your policy would pay out in the event of a covered loss.
If you are purchasing your home with a mortgage, your homeowners insurance premium will be rolled into your monthly mortgage payment, along with your property taxes. While the cost of homeowners insurance depends on a variety of different factors, there are two important ways to save money on this important coverage:
Raise your deductible. The deductible is the amount of money you must pay before your coverage kicks in. Generally, the higher your deductible, the less you’ll pay in premiums. This applies to most types of insurance! You may be surprised to learn just how much you could save on your homeowner’s insurance premiums by raising your deductible from $250 to $500 or $500 to $1,000 or even $2,000. The key, of course, is to have enough money set aside so you can pay your deductible in the event you have to make a claim. When evaluating any type of coverage, consider the premium costs with a few different levels of deductibles. This can help you make the right decision based on your financial situation.
Ask about discounts. Bundling your auto and homeowners insurance can help save you money. That’s when you purchase your home and auto insurance from the same company. Ask about other ways to save money, too.
While saving money is important, making sure you have the right amount of insurance is even more so. If something should happen to your home and/or belongings, you want to make sure it’s insured in a way so that the cost of rebuilding your home and replacing your belongings are completely covered. We can help. Call us today to get started: (859) 781-0434
