Understanding Insurance for First-Time Home Buyers
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The process of purchasing a first home can be an overwhelming, but exciting process for first-time home buyers. Before you can close on your new home, you must acquire a home owners insurance policy. For the inexperienced, this can prompt many questions.
A home owners insurance policy helps protect you from certain perils, says Bobbie Sage, personal insurance guide for About.com. Your new home and its contents can be damaged or suffer loss from weather, fire, theft and other unexpected hazards. The type of policy you choose will determine what you can recover in the event of a loss.
When shopping for home owners insurance, do your homework and ask questions — a lot of questions. Your policy will state exactly what is and is not covered. Your agent also can help clear up questions on unfamiliar topics.
Don’t assume that in the event of a loss the funds will start rolling in. Remember, there usually is a deductible when filing a claim, which means you must pay a certain amount out of pocket before your policy kicks in.
In the next few posts, we’ll discuss what a typical policy usually covers.
About MAX: Our friendly, experienced agents can help answer all your questions about homeowners insurance. We also offer home, farm, auto, renters, and other personal lines to help protect the members of the faith-based community. Visit www.faithbasedinsurance.com/contact-us, email wholeness@faithbasedinsurance.com or call us toll-free at (877) 736-5681.
Sage, Bobbie. Understanding Your Home Owners Insurance Policy. About.com. Retrieved January 27, 2012, from http://personalinsure.about.com/cs/homeowners/a/aa013004a.htm.
