Insurance Insights: The Homeowner’s Choice
When homebuyers purchase their new homes, lenders choose the mortgage insurance policy if they require the mortgage buyer to have one. However, the homebuyer is strongly urged to take the initiative and purchase the homeowners insurance policy that best suits his or her needs. While price may be a factor in choosing a policy, the most affordable policy may provide the least coverage. A homeowner’s policy offers more than protection against a dwelling sustaining damage or total loss. Among other things, it also protects personal belongings and provides protection for homeowners and their families from lawsuits. Each homeowner should decide for him- or herself which and how much protection is needed.
Are you considering homeowners insurance? As always, it is beneficial to understand all of the options available to you. We are totally committed to fast, courteous, and informative service. Our office includes a state-of-the-art computer system for record keeping and instant rate comparisons. If you have any questions about our column or would like to schedule an appointment, please call us. Insurance is our only business.
Quick Tip: To permit sufficient time for an appraisal to be sent to an insurance company, homebuyers should collect quotes and purchase a policy at least one week before closing on a property.