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When is the Best Time to Buy Homeowners Insurance?



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A homeowners insurance policy will protect your home and belongings in the event of unforeseen events such as damage from fire, wind, theft, and more. But when should you buy this protection? Before you continue researching how to get cheap home insurance, read on to find out when during the home buying process you should purchase homeowners insurance.

 

Why Do I Need Homeowners Insurance?

When you buy a home, it’s crucial that you buy homeowners insurance. This will help pay for any damages or renovations your home sustains during a disaster. It can also help if someone gets hurt on your property, since many policies include medical payments coverage. If you have an older home and are about to sell it, you may want to purchase protection for its value in case something happens before you put it on the market. You don’t want surprises when selling your home! Another good reason to make sure you have enough coverage: if something were to happen while someone was living in your house (they got hurt or caused damage), they could sue you and take any money they were awarded from a court case out of your bank account!

 

How Much Does Homeowners Insurance Cost?

Buying a home or building a new one requires careful consideration of many factors. One of these factors, though frequently overlooked, is insurance coverage for your structure. Many homeowners mistakenly believe that their mortgage lender requires them to purchase homeowners insurance and are surprised when they learn otherwise. Even if you don’t have any equity in your home, it’s still a smart financial move to buy homeowners insurance.

 

When Should I Purchase Homeowners Insurance?

Most experts recommend that you purchase homeowners insurance after your home purchase closes. This will ensure that you have proper coverage in place before any natural disasters or other unexpected events occur. However, it’s a good idea to ask your real estate agent if homeowner’s insurance is included in your mortgage rate quote, and if not, whether or not it makes sense for you to buy coverage prior to closing.

 

Homeowners Insurance will only be make further sense, if you properly research about it or reach out to a Get-a-Quote professional. Get-a-Quote is an excellent insurance shopping tool, that guarantees that you find out how to get cheap home insurance. Maximize your insurance research journey with us today!

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