Congratulations, you’ve officially bought your first house! Now you must be wondering what comes next—how about insuring your beautiful new home? Being one of your most valuable personal possessions, your home is a very important place and protecting it is crucial. Without homeowner’s insurance, if something was to happen to your house that causes considerable damage—you could be in trouble because of the costs. With insurance, you can mitigate some of these costs and it can help you save large sums of money in the long run. Getting your home insured is in your best interest and is one of the first purchases you should make along with your home.
What is Homeowner’s Insurance?
If you have never bought homeowner’s insurance before, you must be wondering, “What does it cover?” Standard homeowner’s insurance involves a variety of areas. Some areas that are covered include:
- Structure: Structural coverage pertains to any severe damage that your home can receive. This mitigates the costs for the necessary repairs that you may need done. This coverage also covers any rebuild you may have due to a fire or other environmental factors.
- Personal Belongings: Any furniture, clothes, jewelry, paintings, etc., that you may have will also be covered by standard homeowner’s insurance. If anything was stolen by someone, or lost because of an insured disaster like a hurricane or fire, it will be covered. It is important that you keep a home inventory in case something does occur.
- Liability Protections: If your son, daughter, or dog happens to cause damage to another property, liability protection will cover the damages that your family members may have cause. This will safeguard you if any legal action is taken.
Tips to Know Before You Buy
- Make sure the coverage protects your belongings. Not all homeowner’s insurance policies have this coverage. It is important to have this because you never know what might happen.
- Assessing the risks that your home may have is also very important. Knowing that you are on a floodplain, or at risk for tornadoes, is crucial information to have because it can help you plan what type of coverage you wish to have.
- Having good credit is also ideal when purchasing insurance. It is possible that you can save money on your policy if you have a good credit. This will help you save a significant amount of money in the long term.
Make Your Decision
With all the information that you have now, hopefully you can make the right decision for your home. Insuring it is the best decision you could make because it makes the home feel like it truly belongs to you and that you have something to protect.
TJ Woods will make sure that your home is safe and sound, as we want to help you protect what you have acquired through hard work. Make sure you choose the right policy to protect those you love and your belongings. Contact us today!
