Congrats!
You’ve recently found your dream home and you’re excited to get settled into what could be your family’s home for generations. But, before you even begin to paint the walls or move furniture in, don’t forget one key item: your homeowners policy.
To make sure you buy the right homeowners policy, read our five recommendations on home insurance so you get the most value for your money.
1. Understand your policy
Is water damage to my basement covered? If my tree falls on my neighbor’s house, is that covered? Few people actually take the time to understand the limits of their homeowners policy and worse yet, never ask their agent to go over it!
Know what each part of a home policy means so you aren’t surprised when getting a quote. Most policies will be based on the dwelling coverage, the reconstruction cost of your home if it needs to be rebuilt.
Having answers up front will save you a lot of anguish if you begin with the right policy. We help you understand what you are purchasing so you can rest assured that your home is well protected.
2. Only buy what coverage you need
Don’t confuse the dwelling coverage amount with what you paid for your home. Your total purchase price also includes your lot which is not a factor in your policy. You may be surprised at what a home policy can cover if need be. Maybe you have some special items like precious jewelry or
Not only will your insurance agent help determine the correct amount of coverage, but they can also make sure that you are prepared for your closing and ready to move in that day.
3. Don’t put off purchasing home insurance until the last minute
You know what happens when you go grocery shopping when you’re hungry, right? You end up purchasing the first thing in front of you whether its good for you or not. The same goes when shopping for a new home insurance policy. By rushing to buy a policy at the last minute, you may be spending more money than necessary and sacrificing much-needed coverage.
Don’t end up with buyers remorse with a claim that isn’t covered under your policy. An independent agent can give you a quote in less time than you think but it’s up to you to start let them know about your new home.
4. Add extra layers of security
To protect your home from a loss, consider installing extra safety measures like a central fire and burglar alarm. Having these extra layers of protection in place lessen the risk of a larger loss.
Posting signs on your windows and doors that you have a security system may also have a potential burglar thinking twice about choosing your home as their next target.
Insurance companies will often reward you and your premium will reflect that. To receive a discount, you typically have to send your agent proof of your central monitoring like a bill or contract.
5. Don’t settle when it comes to protecting your home
It’s a fact – you’re going to need to buy insurance for your home. It’s a big decision when making the decision for a product that you expect will be there when you need it.
When agents can only offer you one policy, you end up settling for a product that most likely won’t fit. We have many companies to choose from so we fit the policy to you, and not the way around. We think you should have choices instead of a one-size-fits-all policy. Don’t you agree?
Coverage From All Sides
If you are in the process or have recently purchased a new home, we can help you make sure that you have the best coverage possible. We work with many insurance carriers which means that we find the right policy to fit your needs and not the other way around. Send us a message today to start the conversation!
Thom Grubbs is an insurance agent and partner at Pentagon Insurance Agency in Elk River, MN. Outside of work, Thom likes to bowl, fish, spend time with his family, and volunteer at his church. Get in touch with Thom and let him make life a little easier by talking over your situation.
