Although homeowner’s insurance may be costly, it is important to protect your investment. With a multitude of insurance providers and options it can get overwhelming choosing the right one. Here are a couple of key elements to pay attention to when looking into insurance:
- The most obvious factor is the size of the house, the condition of the house and the construction type. These can either make the insurance spike or fall.
- Location is always a factor to buyers and the insurance company. If your home is near fire departments or even a fire hydrant, the cost of insurance decreases. On the other hand, insurance can be higher the closer you are to the coast. Your home is more susceptible to catastrophic weather therefore your insurance will increase.
- Even if you’re not in a flood zone, having flood insurance might not be such a bad idea. Flood insurance can be inexpensive if your home is not in a high-risk zone. With 99% of all U.S. natural disasters involved flooding, it’s better to be safe than sorry!
- So you decided to get the home with the nice pool or hot tub. Well, you better increase your liability insurance. Liability insurance will cover court costs or any other accidents that the you, the owner, would be responsible for.
- As with all other purchases, it’s a good idea to compare apples to apples. Picking two to three Insurance Agencies and comparing quotes will give you a good idea of a reasonable price and the amount of coverage your home will need. Getting the highest deductible that you can afford will help you save money throughout the years and will allow you to only use your insurance in a dire situation.
Looking for insurance may seem daunting in the beginning but once you fully understand the important factors to pay attention to it becomes a simple stress free process! If you need any insurance agency referrals please feel free to give Coastlend a call, 843-388-5763.