First House Homeowner Insurance Basics
Buying your first home is one of the biggest financial investments you will ever make, which is why it is important to make sure that it is protected with the right homeowners insurance policy. Choosing the right homeowners insurance policy for your first home can be slightly confusing and stressful. Keep these tips in mind to ensure that you choose the right home insurance policy for you.
- Insure your home for its replacement cost – you will have the option to insure your home for its replacement cost or for its market value. Make sure that you insure your home for its replacement cost so that you can rebuild your home with similar materials if it is a complete loss after a disaster.
- Do not skip on liability – liability insurance will provide protection if someone is injured at your home. Liability insurance will also provide coverage for a lawsuit that is associated with the injury at your home to ensure that you are not financially devastated from one accident.
- Protect your assets – homeowners insurance will provide coverage for all of your belongings that are kept at your home. If you have any valuable items, such as fine art or jewelry, you may want to take out extra insurance coverage to ensure that any valuable belongings are protected.
- Know what is not covered – just as important as knowing what is covered is to know what your policy does not cover. Knowing what is not covered will give you a better idea for any extra insurance policies that you need to invest in to provide the right amount of coverage.
For all of your homeowners insurance needs and to ensure that you and your new home have the right amount of protection, contact the insurance professionals at the Insurance Agency of Dean Davis in Austin, Texas.More