Important Steps for Buying Homeowners Insurance -What you Need to Know

Homeowners Insurance: Everything You Need to Know Before You Buy

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Buying a home is a big deal and a significant investment. For most of us, our house is our biggest expense. But, more importantly, our house is our home.

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It’s where we relax, rest our heads at night, probably work from now, and it’s what keeps us, our family’s, and all of our stuff safe.

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What Is Homeowners Insurance?

– Damages to the exterior of a home – Damages to the interior of a home – Loss or damage to personal assets – Injuries that occur on the property

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In addition to these coverages, if you live in an area prone to natural disasters, also known in the insurance business as “Acts of God,” you may also have policy coverage for disasters such as:

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Three Types of Homeowners Insurance

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Replacement Cost Replacement value policies are the same as actual cash value except it does not take depreciation into account.

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Guaranteed (or extended) Replacement Cost/Value This type of coverage will allow you to receive the total cost of repairing or rebuilding your home, even if it’s more than your policy limit.

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– Where you live – price of your home – The amount of coverage – Your home’s age – Home security – Your credit history – Additional types of coverage – Your deductible

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Swipe Up for More Info on Home Insurance and the Steps You Need to Take! There's lots more to see! See You There!

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Homeowners Insurance: Everything You Need to Know Before You Buy

Buying a home is a big deal and a significant investment. For most of us, our house is our biggest expense.

Buying a home is a big deal and a significant investment. For most of us, our house is our biggest expense. But, more importantly, our house is our home.

It’s where we relax, rest our heads at night, probably work from now, and it’s what keeps us, our family’s, and all of our stuff safe.

What Is Homeowners Insurance?

Homeowner Insurance is an insurance policy that covers losses and damages to your home and assets in the house.

– Damages to the exterior of a home – Damages to the interior of a home – Loss or damage to personal assets – Injuries that occur on the property

In addition to these coverages, if you live in an area prone to natural disasters, also known in the insurance business as “Acts of God,” you may also have policy coverage for disasters such as:

Three Types of Homeowners Insurance

Actual Cash Value With actual cash value coverage, you’d be covered for the cost of your home and belonging after accounting for depreciation

Replacement Cost Replacement value policies are the same as actual cash value except it does not take depreciation into account.

Guaranteed (or extended) Replacement Cost/Value This type of coverage will allow you to receive the total cost of repairing or rebuilding your home, even if it’s more than your policy limit.

– Where you live – price of your home – The amount of coverage – Your home’s age – Home security – Your credit history – Additional types of coverage – Your deductible

Cost Variables

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