How To Shop For House Insurance

Shopping for house insurance is not something that most people do very often. Once they get a policy, they usually just keep renewing it year after year. You want to find the best coverage so that you know you'll be safe if something bad happens. Here are a few things that you need to do when shopping for house insurance. 

Know Your House

When you go out and get a house insurance estimate, you will need to know a lot of things about your house. If you just bought the house, all of the facts and figures may not be easy to remember. Take a fact sheet about your house with you. Include the square footage, the value of the house, and information about special items in the house, and anything else you can think of.

The insurance agent will ask you a lot of questions about the property they are insuring and you need to be able to answer them. This will help you make sure that you are insuring the house for enough money.

Get Multiple Quotes

One of the biggest mistakes that homeowners make is not getting multiple quotes when shopping for home insurance. You want to make sure that you are getting the best deal and keeping your insurance agent honest. Many people just get whatever their parents had or what someone else recommends. Go out and find out the information for yourself.

You will save money in the long run and get a better policy in the process. Make sure you are comparing apples to apples and all of the policies are the same. If you can see one company has a much better value, then go for it. Just make sure that you're not giving up too much service or anything else to get it. 

Disaster Insurance

When you're in the market for home insurance, you might want to take a look at getting disaster insurance for it as well. Most people do not realize that if a flood, hurricane, earthquake, or wildfire were to damage your property, you would not be covered. Most of these things require a separate policy. Sometimes you have to get these from another company. Other times, the company that just sold you your homeowner's insurance will offer it too.

If you don't live near the coast, you probably don't need to worry about a hurricane. If you are in a well developed area, a wildfire would probably be covered by homeowners. However, flood insurance is something that almost everyone should get. About 25% of the flood losses every year occur to people that did not think their house could flood. There is a good chance that your house could be hit by water at some point over a 30 year mortgage. Just make sure that you cover all of your bases before you move in.

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