• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The Sonic Boom

  • Home
  • About
  • Travel
  • Music
  • Business
  • Lifestyle
  • Health
  • Home & Garden
  • Finance
  • News
  • Blog
  • Contact

September 25, 2020 by Eddy

A First-Time Homeowners’ Guide to Making an Insurance Purchase for Your Nest

Purchasing a house is possibly the largest investment you’ll make, and as a first-time buyer, you are thrilled to walk through the doors of your new home. But, what also overwhelms you is the complexity, cost, and commitment that is involved. With this large investment, you would not want to risk it all by exposing your new home to damages from unforeseen elements.

What you need is the best homeowners insurance that protects your home against theft and damage. While on the lookout for home insurance, you must work with independent agents to make the right choices.

What Should Your Homeowner Policy Provide?

Although customizable, home insurance has certain standard elements that specify the extent of cost coverage.

Interior and Exterior Damages

The insurance must cover damages to your house’s interior/exterior due to hurricane, vandalism, fire, lightning, or others. It must cover all repairs or even costs for rebuilding. Check if your insurer covers your property’s freestanding structures on the same guidelines as the main house.

Your provider may not account for destruction due to earthquakes, floods, or poor home maintenance. Similarly, furniture, appliances, clothing, and other contents of your house will be covered if they are destroyed in an insured disaster. High-prized items in your home may warrant extra premium payment or even a separate policy for coverage.

Personal Liability for Injuries and Damage

Obtaining a liability coverage will protect you from lawsuits filed by others. If you have pets at home, verify if this coverage extends to them as well. Through an independent agent’s comparison tool, you can compare various insurers for the amount of coverage and choose the best one.

How Much Will Your Home Insurance Cost?

From $900 a year to even $2000, premium payment towards your home insurance varies from one state to another. These are only average rates that include loyalty discounts, claims-free discounts, age reductions, and the rest. However, as a first time home buyer, these discounts may not be applicable in your case. Hence, you must investigate the options and come out with the best homeowners’ insurance that helps you save more and give you the broadest possible coverage.

5 Tips to Save With Homeowners Insurance

Don’t Postpone Your Insurance Purchase: Most often, homeowners are consumed by the process of selecting their first home, home inspections, negotiations, and mortgage approval, and insurance purchase goes neglected. It results in being presented with limited options, making a rushed purchase, and ignoring the coverage you get. Choose a policy, not because it is cheap, but only if it covers all the risks.

Save Time With Multiple Quotes: Get insurance quotes from multiple providers through an independent agent. This way, you are guaranteed to get the best price and policy for your new home. However, ensure that you look at three quotes to the minimum before deciding on an insurer.

Save With Multi-Policy Discounts: if you have multiple vehicle insurance, health insurance, and other policies, check if you can gain a discount by rolling these policies together with your home insurer.

Raise the Deductibles: Deductible is the upfront amount you need to pay before your home insurance claim can be processed. A higher deductible implies you have to pay more from your pocket, but it also reduces the amount you pay as premium. The deductible varies based on the area of your residence. If your home is in a disaster-prone area, a separate deductible may be needed as well.

Improve Your Home’s Security: Installing a burglar alarm system or a smoke detector in your home will let you enjoy some insurance discounts. However, the insurer may place restrictions on the company or exact equipment you need to install for benefitting from the discount.

Check for this recommendation from your insurer and understand how much you will be paying for the device. This knowledge will let you make correct estimations on the amount you can save towards insurance premiums.

While laying hands on a house for the first time is an exciting prospect for homeowners, choosing the best homeowners’ insurance becomes laborious. An insurance policy for your home must not become a burden, but a safe harbor that protects your property and interests. Dealing with this process becomes easier when you research the options, review your situation, and choose a policy that best fits your requirement.

 

Filed Under: Home & Garden

Primary Sidebar

About Us

Hi Everyone. My name is Eddy and I'm a 28 year old American guy. I live outside the box and do things on my own terms. I quit my job a few years ago to pursue my writing passion, so here I am sharing this blog with you!

Connect with us

  • Facebook
  • Google+
  • Instagram
  • Twitter

Newsletter

Future Post

What is the Purpose of a Prenuptial Agreement When it Comes to Divorce

If you believe that prenuptial agreements are just for the wealthy or prosperous, you would certainly be misinterpreted. Several people who enter into marriage may have specific monetary risks that could provide issues in the event of a divorce. Some pairs might really feel that they are jinxing themselves by preemptively considering what their divorce […]

A Comprehensive Guide on Motorcycle Engine Lubrication

Motorcycle lubrication is black alchemy. Your engine’s oil does more than just lubricate it; it also helps clear up the exhaust and, in some situations, preserves fuel efficiency. Sites like Motorcycle Supersite suggest that you use oil as recommended in the bike’s manual if you are unfamiliar with this black alchemy. If you prefer changing […]

5 TIPS FOR CHOOSING A DRONE

Thanks to their versatility, drones have earned an important space in the toolbox of different audiences. They help the farmer to control the crops; the photographer to capture impressive images; and the guards, to attend to areas of difficult access. But not all drones have the same features and functions that’s why drone camera price […]

How Much Will I Get if I Sell My House: A Foolproof Formula

“Should I sell my house now?” is a question you might have kept pondering. Selling your house is a big deal. Whether upgrading, downsizing or moving for a new job, there are many things to consider, including how much money you’ll have. So, how do you know what to expect before selling? Follow this foolproof […]

A Website Accessibility Checklist for Business Owners – accessiBe

As a business owner, it’s important to make sure your website is accessible to everyone. This includes people with disabilities and those who use assistive technology. This blog post will discuss the steps you need to take to ensure your website is accessible to all, such as using tools like accessiBe. We will also provide […]

How to Create an Inclusive WordPress Site: Tips and Tricks – accessiBe WordPress

Creating an inclusive WordPress site is important for businesses of all sizes. No matter what industry you are in, it is essential to make sure that your website is accessible to everyone who wants to visit it. This blog post will discuss some tips and tricks for creating an inclusive WordPress site. We will also […]

How to Add an Accessibility Overlay to Your Website for ADA Compliance

If you operate a website that is open to the public, it is important to make sure that it is accessible to all users. This includes individuals with disabilities who may need special accommodations to access your content. One way to do this is by adding an accessibility overlay to your website. This blog post […]

Simple Tips to Achieve a Seamless House Move

Moving to a new place signifies a new beginning and a fresh start. It is one of the most thrilling life transitions you could experience. It gives you a chance to meet new people, explore new places, and even redeem yourself from any mistakes, failures or traumatic experiences you may have had in the past. […]

Footer

About Us

Hi Everyone. My name is Eddy and I'm a 28 year old American guy. I live outside the box and do things on my own terms. I quit my job a few years ago to pursue my writing passion, so here I am sharing this blog with you!

Latest Post

  • What is the Purpose of a Prenuptial Agreement When it Comes to Divorce
  • A Comprehensive Guide on Motorcycle Engine Lubrication
  • 5 TIPS FOR CHOOSING A DRONE
  • How Much Will I Get if I Sell My House: A Foolproof Formula
  • A Website Accessibility Checklist for Business Owners – accessiBe

Connect With Us

  • Facebook
  • Google+
  • Instagram
  • Twitter

Copyright © 2022 · Executive Pro on Genesis Framework · WordPress · Log in