Five questions to ask about your home owners insurance policy
One thing you must have once you have brought your house is HOME OWNER'S INSURANCE POLICY. So you are getting ready to buy homeowners insurance, but you are confused. Why wouldn't you be? If you are a first time home buyer,you are probably confused on what questions to ask or what to look for.
Well, you're in luck! I've put together 5️⃣ crucial questions you should ask before you sign that dotted line on your new homeowners insurance policy. Let's dive in! ⬇️
Does the policy cover replacement cost or actual cash value? Replacement cost policies pay the cost to repair or replace your home up to the policy's limits, while actual cash value policies consider depreciation. 🏚️➡️🏠
How much homeowners insurance do I need? You should definitely aim to get a home insurance policy at least 100% of the cost to rebuild your home, not its Home market value. And don't forget to cover your personal belongings and liability! 🛋️💍
Is homeowners insurance required by law? While not mandated by law, if you have a mortgage, your lender will likely require you to have homeowners insurance. 📜⚖️
Have you shopped around for different quotes? Don't just settle for the first quote you get. Comparison shopping can save you big bucks and ensure you get the coverage you need! 💰💼
Are you covered if someone is injured in your home? Liability coverage is often included in standard homeowners policies. It can protect you if someone is injured on your property and decides to sue. 🤕⚠️
Buying homeowners insurance is a crucial part of the home-buying process, protecting you and your investment. If you have more questions, Book an appointment with me! 📩👇
Comments(4)