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A Guide to Homeowners Insurance for a Newly Purchased Home

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If you recently purchased your first home, you’re probably eager to move in and make it your own. However, one important step before you move in—and that many homeowners forget about—is to find out what kind of homeowners insurance coverage you should have. In this blog, we’ll share with you what kind of homeowners insurance policies there are, when the best time to buy homeowners insurance is, and how to get cheap home insurance.


Homeowner’s Insurance Overview

Every homeowner should understand what kind of coverage they’re buying when they sign up for a homeowners insurance policy. While almost every policy will have some general similarities, each company provides different levels of coverage. Most homeowners don’t take advantage of all their options or understand what is already covered in their policy.


What Does Homeowners Insurance Cover?

Homeowners insurance policy is designed to protect your home, possessions and personal liability. You’ll be covered if anything happens that could potentially cause damage to your home or other structures on your property (Ex: detached garage). It also provides coverage in case someone gets injured while visiting your home. This isn’t typically what people expect when they think of insurance, but you may be liable if someone gets hurt on your property and wants compensation.


When Do I Need To Purchase Homeowners Insurance?

It’s important to purchase home insurance as soon as you have purchased your home. The longer you wait, the more likely it is that something may happen, like natural disasters, or unexpected theft and damages. If you already have homeowner’s insurance and want to improve your coverage, it’s best to work with an expert. For example, if you want flood insurance but live in an area where there is little risk of flooding.


How Much Is Homeowners Insurance?

Every policy differs, but at least you’ll know what kind of coverage to expect. Look at how much your neighbors pay and ask your agent about discounts when comparing quotes from other insurance companies. A typical homeowners insurance policy will cover a wide range of damages and losses, but it should provide more than enough coverage if something does happen.


Tips For Avoiding Claims On Your Homeowners Policy

When buying home insurance, it’s tempting to think of your policy as an easy way to ensure that any damage you or your family cause (intentionally or otherwise) is covered by your policy. This is why people tend to buy broad insurance plans with low deductibles, only to pay out of pocket when problems arise. To avoid these claims, consider whether certain items are worth insuring and make sure you know where they are located at all times. If you need further assistance in understanding how to get cheap home insurance, get in touch with a Get-a-Quote professional today.


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