The big question everyone will ask is when to get homeowners insurance when buying a house, but first let’s ask, what is homeowners’ insurance?. Homeowners insurance is a form of property insurance that is able to cover losses and damages to a person’s house and to the assets within the home. This includes windstorm coverage, one of the most important forms of personal insurance, especially in the state of Florida due to the fact that Florida is the top state that gets hit by hurricanes.
You can read more about our homeowners’ insurance policy that includes windstorms here.
Some houses are either under-insured or over-insured. For Instance, some households are insured for longer periods of time with one insurance company may have insufficient limitations of policy because of increased building costs. In some instances, houses have been remodeled and it goes without being communicated to the insurance company, this leads to severe underinsured home values.
Knowing when to get homeowners insurance when buying a house is very important. However, so is cost. When you own a house, homeowners’ insurance is very necessary. The price of homeowner’s insurance varies from coverage, payment options, the located area. Also the insurance organization, and the type of home. You can get a free quote from us now here.
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Buying a new house is exhilarating. However, it does come with undeniable stress. With stress, homeowner’s insurance can be quite overlooked among home inspections, price, mortgage terms, but getting homeowners insurance prior to closing should be priority. So, the big question is when to get homeowner insurance when buying a house. Generally, you purchase it before you close on the house. Not only is it a necessity, it is smart because as much as it covers repairs on your home, some policies include protection from legal action if a person were to be injured on your property. This is known as liability coverage.
Firstly, it is important to note that home warranty is not the same thing as home insurance. It does not change it, neither does it replace it. Home warranty and Home insurance are two distinct things. Home insurance is in place to protect the homeowner from damage done to the home by an unpredicted event like a fire or windstorm. The home warranty functions similarly to any general insurance policy. The customer will pay an annual premium for each year they choose to be covered under the warranty.
Different to driving a car, a person can legally own a home without the homeowner’s insurance. However, if the person pays their home with a mortgage, the lender will in most cases need them to get home insurance to protect the house from any unforeseen harm and also protects personal belongings.
All in all, Homeowner insurance is not a luxury but a necessity to have. So, let AIB (American Insurance Brokers) find the most comprehensive and cost-efficient policy for you and your family.[/vc_column_text][/vc_column][/vc_row]