The right insurance for your new home

Buying a new home? We can help you find the right coverage for one of the most important purchases you’ll ever make.

Homeowners insurance is designed to help pay to repair or replace your home and/or belongings if they are damaged by certain perils, such as fire or theft. Homeowners insurance does not cover damage by earthquakes or floods. Separate insurance policies are available to help protect your home and belongings against those types of risks.

In addition to providing coverage for your home and belongings, homeowners insurance typically provides liability coverage as well. That’s important coverage designed to protect you in the event someone who isn’t a member of your household injures themselves on your property. Each type of coverage in a homeowners insurance policy is subject to a limit. That’s the maximum amount your policy would pay in the event of a covered loss.

If you are purchasing your home with a mortgage, your homeowners insurance premium will be rolled into your monthly mortgage payment, along with your property taxes. While the cost of homeowners insurance depends on a variety of different factors, there are two ways to save money on this important coverage:

Raise your deductible. The deductible is the amount of money you must pay before your coverage kicks in. The higher your deductible, the less you’ll pay in premiums. This applies to most types of insurance! You may be surprised to learn just how much you could save on your homeowner’s insurance premiums by raising your deductible from $1,000 to $1,500 or from $1,500 to $2,000. The key, of course, is to have enough money set aside so you can pay your deductible in the event you have to make a claim.

Ask about discounts. Bundling your auto and homeowners insurance can help save you money. Ask about other discounts, too!