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Buyer Tip- Check the Insurance Cost for Your New Home Before Offering
If you are financing your purchase, your lender will require you to get homeowners' insurance. It just makes sense to get homeowners's insurance. Homeowners insurance can pay for repairs if your home is damaged by a storm, fire, or other disaster or if you’re a victim of theft or vandalism. Even if you are paying cash, you should get homeowners' insurance - but how much will it cost? Insurance rates can vary widely from home to home - based on many factors, including the location of the property and whether there have been previous claims filed on the property. Don't be surprised a few days before closing when you discover that that dream house has a nightmare price tag for insurance.
Most people understand that the region where they live is important because certain parts of the country experience more tornadoes, hurricanes, earthquakes or wildfires than others. Many people don’t realize, however, that homeowners insurance rates can vary widely from one neighborhood to another.
Neighborhood-Specific Factors That Can Affect Insurance Rates
Proximity to emergency services can impact homeowners insurance rates. If you own a home near a police station, officers could respond quickly if someone broke into your home. Speedy action by the police ... more
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