When you obtain a mortgage to purchase a new home, the lender will require that you show that you have prepaid for one year of homeowner's insurance.  In the past, insurance companies could provide such a policy on short notice. In today's market obtaining the appropriate coverage can take days, or even weeks. Advanced planning for this insurance requirement allows you to shop around for the best rate as well as the coverage that best suits your needs.

       Finding a good insurance agent is important.  Work with a firm that has served you well in the past, or ask your friends, co-workers and family for a referral. Your mortgage officer or Realtor can also refer you to agents that they have worked with.   When shopping for the best policy, compare rates but be mindful of the total package. Often the difference in price is insignificant when compared to having the correct coverage along with prompt local service.