Buying a home insurance policy for your new home is a crucial step and you must treat it as such. Take your time to do thorough research and understand the basics of home insurance, so you can buy a policy that meets your needs.
Beacon Point Insuranceshares some essential home insurance tips for first-time buyers who want to buy home insurance for their new properties.
6 Essential Home Insurance Tips for First-Time Home Buyers
When shopping for home insurance policy for your first home, some important tips that can help you get a good deal include the following:
1. Research Properly
Don’t be in a hurry to close the deal on your dream house and move in. Instead, take your time and ensure you do proper research so you won’t regret your decisions later. Research the location and look for details that can affect your insurance premium, such as the crime rate and exposure to fire accidents.
Also, research the history of the house and look for the insurance details and other information that might affect you. If possible, ensure that the home you want to buy has a positive history and is not located in a high-risk environment, as this may cause you to pay more for insurance.
2. Know What Your Insurance Covers (And What it Doesn’t)
When you finally find a policy that meets your standard, don’t forget to ask important questions like what your policy covers. Generally, you should ensure that your insurance covers the replacement cost of your property and not just the market value.
Replacement cost refers to the amount it will cost to rebuild your home, using similar materials and design. It also covers all the additional costs you may incur when rebuilding your home. On the other hand, market cost refers to the current market value of your home. It doesn’t include the other expenses like clearing debris and rebuilding your home.
3. Get Additional Protection
In most cases, your home insurance will not cover all perils, especially issues like mold, flood, and earthquake. If you live in an area that is exposed to these issues, it is advisable to get additional coverage for your home.
Some insurance companies may also offer you discounts for getting additional protection and making your home safer.
4. Ask About Discounts
You can enjoy huge discounts on your insurance when you make certain improvements to your home or install some safety appliances like fire alarms and smart home appliances.
The discount you will get on your home insurance depends on your location and the insurance company you choose. So it is important to ask your insurance provider about their discount policy.
5. Review Your Policies Regularly
Ensure to stay up to date so you can get the best out of your insurance policy. When you make improvements to your home or add additional structures, inform your insurance provider so you can expand your coverage.
Also, since some home improvements and smart appliances can help you get discounts on your insurance, it is important to inform your insurance agent when you make these improvements, so you can enjoy the discounts that come with them.
6. Work with an Expert
As a first-time home buyer, choosing the perfect insurance policy may be complicated, which is why it is best to work with an experienced insurance agent so you can get all the necessary support and professional advice you need.
Your professional insurance agent will educate you on all the available home insurance policies and give you all the information you need to make a good choice.
Answering Common Auto Insurance Questions
In this section of the article, Beacon Point Insurance answers some of the commonly asked auto insurance questions to help you make informed decisions.
1. What is Auto Insurance?
Auto insurance or car insurance is designed to protect you from accident-related expenses including medical costs and liabilities. It is a contract where your insurance provider agrees to cover the cost of repairing or replacing your car after an accident, in exchange for an insurance premium.
Auto insurance is compulsory in most states in the US and it is illegal to drive without an auto insurance policy. However, the coverage from your auto insurance depends on the type of policy you choose. This is why you should carefully examine your choices and ensure to choose a policy that best suits your needs.
2. What Does Auto Insurance Cover?
There are various types of auto insurance policies and they all cover different perils to different extents. So, the coverage you will enjoy depends on the auto insurance policy you choose.
However, every driver is mandated to have liability coverage for property damage and bodily injury. This means that before you legally drive your vehicle in the US, your auto insurance must at least cover bodily injury and property damage liability.
Other types of auto insurance coverage you can explore include collision coverage, comprehensive coverage, and new car replacement coverage.
3. Can I Get Discounts on Auto Insurance?
There are many ways you can qualify for discounts on your auto insurance. You just need to ask your insurance agent.
The most common way to get an auto insurance discount is to get your auto and house insurance from one company. Other types of auto insurance discounts include good student discounts and multi-vehicle discounts.
Remember to talk to your insurance provider to know the discount you qualify for and how to apply for it.
Premium Home and Auto Insurance services in Independence, MO
If you need the best insurance company for your home and auto insurance coverage in and around Independence, MO, Beacon Point Insurance is your best choice.
Beacon Point Insurance is a leading insurance company in Missouri providing premium services at reasonable rates. Their services are designed to give you peace of mind on your properties and protect you from liabilities.
For inquiries and consultation, call Beacon Point Insurance at 816-254-6100 or visit their website.
