Home Insurance for the First Time Buyer

Buying a home is an exciting and nerve wracking event. While you may be tired of the papers and technical jargon involved in the home buying process - it is important to not to over look the importance of the right homeowners insurance for you. Here's what you need to do when getting home owners insurance:

1. Pay attention to your credit score

A good credit score not only helps you get a better interest rate on your mortgage, but it also helps you save on homeowners insurance. Work on bettering your credit score to help keep you afloat.

 

2. Do your research, and don't be cheap!

Homes are expensive. Mortgage payments can be pricey. This is why you need to take into account all the costs associated with buying a home. And while going with the cheapest plan may seem like a good idea, your coverage might not be what is best suited to your needs. Be smart and weigh out all of your options.

 

3. Understand your coverage 

You need to understand what is covered in the standard policy and what is premium. When looking for a home you need to look for these things:

  •  Dwelling Protection - This protection covers your actual home as well as garages, porches, etc. 
  • Personal Property Protection - This protection helps to cover the costs of your personal belongings inside your home. 
  • Liability Coverage - This type of protection will go towards and medical / legal fees you could face if someone visiting your home is injured on your property and chooses to sue you.

 

4. Bundle Policies

In some cases you can combine things like auto insurance and homeowners insurance into one policy. Bundling can save you money. 

 

Once you've learned about all of this information, you'll be ready to call one of our CBHB agents to buy your first home!

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