The process of buying a new home can be stressful and overwhelming especially if you are a first-time buyer in the Inlet Beach, FL area. However, you shouldn’t allow the pressure to make you forget about the need for a home insurance policy. If something critical happens to your home, your homeowners’ insurance policy can make or break you. Home insurance is always an important aspect of your investment. Just like any other insurance policy, there is nothing such as a one-size-fits-all policy. Here are the three must-know tips for purchasing a homeowners’ insurance.
Shop Around Before You Buy
Several insurance providers underwrite home insurance such as Dune Lakes Insurance. Different providers offer different rates, and it’s crucial for you to contact at least three companies and compare their rates before you make up your mind. Sometimes, your mortgage lender may also require you to purchase flood insurance. Be sure to compare various coverage, customer reviews, and prices which will help you get the right provider. Make sure that the provider you choose has an excellent customer service team and customer reviews.
Keep in Mind that Location Matters
Apart from the construction type, size, and overall condition of your home, location also plays a critical role in determining the cost of your home insurance and the types of coverage available. Unlike homebuyers, insurance companies won’t be looking at the social amenities such as schools and hospitals near the home when determining the rates but look at other factors. Typically, homes that are located in low-risk areas such as permanently staffed water departments tend to attract low premium rates. Proximity to a coastline such as Santa Rosa Beach or Inlet Beach, FL is also an important consideration.
Your Home’s Claim History Also Matters
It doesn’t matter whether you are purchasing the home or you have been living there for some time, its claim history plays a critical role when it comes to determining the premium rates. Get familiar with your home’s claim history before you approach an insurance company. If a claim was filed in the past five years, then it could cause your premium rates to increase.
For more details, call Dune Lakes Insurance today.