After buying a brand new home, the next big thing you should consider is how to protect it. This calls for home owner insurance shopping. But if you are only familiar with “how to buy your dream house”, then it is only the right time that you keep on reading this article for it will teach “how to buy a home insurance policy”. Not only that, you will learn how to save on your insurance.
First things first, before you contact any home owner insurance company and close a deal with them, you should allow yourself some time to do research and learn the basics of home owner insurance shopping. Along with it, you need to know more about your home since its details will become the basis of your insurance policy.
Know the dimension, the size, the structure, the age, location and everything in between. Also make an inventory of your appliance and furniture. Then ask yourself this question: what type of coverage do I need.
Usually, a home owner insurance policy covers perils such as fire, vandalism, burglary, and earthquake. Other higher home owner insurance policy will cover anything you can think of. If there is a need to purchase basic coverage or the upgraded one, it all depends on how you know and study the details about your home.
Here is an example: You live in a state where storm is frequent. Thus, it is important to you to get coverage that would enable you to have a claim on damages cause by storm. Same thing applies if you live in a neighborhood where burglary is rampant or if you have a home that is somewhat a fire hazard, etc.
It is helpful also if you do some research online. Research not only on things about home owner insurance but also on the types of insurance that you might need. Doing this will support your initial idea of what type of home owner insurance policy you need.
Shop around. There are several home owner insurance companies out there. Each offers different rate. To get the best rate, all you need to do is to visit at least 3 sites and compare one after another. If you want to get better rates, one tip is to stick on your current insurance company. If you already have car insurance with one company, ask about the special rate they give if you decide to purchase a home owner insurance policy with them. Normally, one company would give 10-15% discount on the second policy.
If you don’t have current insurance policy at hand or if you are not satisfied with your present insurance policy, you still have the freedom to select from other companies offering home owner insurance. Ask discounts. There are several insurance companies that are willing to lower down the rates for you. There is nothing to lose. Just feel free to ask.
After you have done this all, more or less you already have found one for you. But before making a deal, it is advisable to read carefully the terms and conditions. In this way, you can clarify the things you cannot understand or ask question about the provisions on the policy you are purchasing. If you are totally sure about your chosen policy, you can sign it, go home, and spend the rest of the day enjoying your new home.