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Buying a Home? Do Not Wait Until the Last Moment to Review Homeowners Insurance

home homeownersA few times as an agent, I have received a frantic call from a home buyer requesting a last minute binder for their home purchase. While buying a home can be stressful, you can reduce the stress by having a supportive team of professionals in place before you shop.

Pick your home buying team early and request information. There is much to do when buying a home and a licensed insurance agent will help guide and educate you about your homeowners insurance. You can then make an informed decision regarding the ideal coverage for you, your belongings and your home.

Common questions an agent will ask will be about the details for the property such as:

  • Age of the home and living area square footage
  • Is there a pool and if yes, is it fenced?
  • Type of heating system – if oil, where is the tank?
  • Year of roof, electrical, plumbing, or heating renovations

The Multiple Listing Services will offer many of these details, however learning about your home-to-be also helps you to know what type of renovations or repairs you may face in the future.

Prepare information for your agent such as:

  • Deed holder name or names, all names listed on deed must be listed on the policy
  • Do you have valuable items: jewelry, collectables, musical instruments you would like covered on the policy?
  • Is flood insurance required? Homeowners insurance does not cover flood so a separate policy may be needed. There are also some companies that offer some flood coverage that may be added for additional premium cost.
  • Amount of deductible requested: if you increase your deductible to $2,500 or $5,000, there may be a potential savings involved
  • Possible credits: central alarm monitoring for fire or burglar, multi-policy: auto or umbrella insurance bundled with the same agent

A good agent will ask you many questions, help us to help you! Call Hometown Insurance Agency of Long Island today and review your insurance needs with our licensed agents. Call 1-800-568-SAVE (7283) or email today for a no obligation quote.


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