Insurance Tips For First-Time Homeowners

​Owning a house is surely a big investment and an exciting milestone. But before you unlock the door to your new home, there are certain preparations you should note. It can be overwhelming and confusing, especially if you are a first-time homeowner. 

Fret not, because we are here to help you understand the basics of Homeowners Insurance and tips for purchasing it.

What is Homeowners Insurance?
A Homeowners Insurance may provide coverage if certain hazards damage your property and belongings. Hazards may include fire and theft. The cost of Homeowners Insurance may depend on the coverage you want, your house's features, and your personal belongings' value.  

Homeowners Insurance typically covers the following:

1.  Your dwelling
2. Other structures of your home
3. Personal belongings
4. Liabilities for injuries or damage caused to someone's property

Purchasing Insurance Tips for First-Time Homeowners  
Homeowners Insurance might be a wise purchase to make, especially for first-time homeowners. The following are some helpful tips for you in purchasing a homeowner's Insurance.

Do Your Research
Before purchasing a house, know the possible risks involved. It will help you determine what type of coverage is suited for your property. Look into the location of the property to determine your premiums. These include the rate of neighborhood crime and the distance of the fire station to your house.

Know The Right Coverage For Your Property
To determine the right coverage, check how much it will cost you to repair the property if an accident happens. You also have to be aware of the 80% rule. Damages to your property might only be covered if your insurance coverage amounts to 80% or more of the house's total value. 


Know What The Exclusions Are
Check what coverage is not included in your Homeowners policy. Certain damages that your Homeowners Insurance might not cover include natural disasters like earthquakes and floods. You can opt for additional coverage if there are exclusions that you want to be included in your insurance. 

Be Smart When Filing A Claim
Filing a claim is an important step to recovering from loss. For a more effective and easier claim process, ensure that your records are good. Important conversations must be documented, and keep all the receipts and contracts. File a claim within the time limit allotted to ensure that it will cover your losses.

Conclusion
Your property is a big investment you will make, and you must insure it. With the information and tips provided, we hope you can understand better the important factors related to Homeowners Insurance. 

At Black and Associates Insurance, Inc., we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (509) 464-0058 or Click Here to request a free quote. Any coverage discussed is not guaranteed. Please