Homeowners Insurance: Everything You Need to Know Before You Buy

Our homes are essential pieces of our lives, and if something were to happen to them, it would need to get fixed. Issues vary from minor fixes to major problems. This is where homeowners insurance comes in.

Homeowners insurance is an insurance policy that covers losses and damages to your home and assets in house. Homeowner insurance policies typically include additional living expenses (ALE) coverage.

How and When to Get Homeowners Insurance

There are tons of insurance companies, both large and small. Each will have different packages and price ranges, so getting more than one quote is essential.

How Much Coverage Do I Need?

Many policies will fall short if proper consideration isn’t taken. Many policyholders will only have the mortgage or the purchase price of house as their covered amount.

It’s Not the Same As a Home Warranty

While homeowners insurance covers damages to your home, a home warranty typically covers the cost of replacing/repairing different appliances or systems in your home.

How to Keep Your Premiums Lower

Obviously, everyone would like to keep their insurance premiums as low as possible. Here are some better ways to keep your premium costs down.

1. Have a Higher Deductible

Having a higher deductible will lower your premium. Basically, the more you cover, the less the insurance company needs to, so you are less liable to them.

Swipe Up To Read More