Start shopping...for HOMEOWNER'S INSURANCE!

Start shopping...for HOMEOWNER'S INSURANCE!

I love Christmastime.  The lights, the wreaths on homes, Starbucks Skinny Peppermint Mocha Latte.  I just hate the shopping. The last place I want to be is at mall...UGH!  All those people frantically looking for the perfect gift or next week's Dirty Santa gag gift, long lines, screaming children, traffic stretching further than the eye can see.  And that's why I can be found at the mall on Christmas Eve.  Homeowner's insurance shopping isn't all that different!

You've found the PERFECT house.  You snap a quick picture of your signature on the contract and post it straight to Facebook for the world to see.  Home inspectors are lined up.  The moving company is called.  Somewhere along the lines, shopping for homeowner's insurance slips further down the list...it isn't sparkly, or exciting, or wrapped in a pretty bow.  But shopping for homeowner's insurance shouldn't wait until the week before closing.  It could cost you your loan!  Right after the contract is signed and before the ink is even dry, pick up the phone and start shopping!

Why should shopping for homeowner's insurance be a TOP priority on your list?  It all comes down to that pesky little debt-to-income ratio.  These days, many lenders have a strict debt-to-income ratio guideline.  That is simply your current, minimum monthly debt payments divided by your gross (before tax) income.  In many cases, borrower's are barely under the guideline and then the homeowner's insurance policy is written and BOOM!  They are OVER the guideline.  Days before closing the loan is DENIED!  Not a good situation and one that can be easily avoided by shopping early!

Homeowner's insurance is a "must have" just like presents under the tree.  I mean, you can't buy a house without it so why put it off until the last minute?  Knowing the right questions to ask is key.  Of course, I always suggest you start shopping with the same agent or agency which insures your car.  That multi-policy discount can save you big bucks in long run!  But it doesn't hurt to get a few quotes from several different reputable agents just be sure you are getting the most bang for your homeowner's insurance buck. 

So don't be a "Christmas Eve" homeowner's insurance shopper.  Shop for homeowner's insurance EARLY on in your home buying process and avoid a last minute nightmare! 

And as you enjoy the Twelve Days of Christmas, here are Twelve Ways to Save Money on your homeowner's insurance!