4 Tips for First Time Homebuyers

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Your first time buying a home can be exciting, but can also be as equally overwhelming!  From contracts with the mortgage company, scheduling home inspections, closing costs, etc. With everything going on, sometimes buying homeowners insurance can fall to the back of the list. Knowing what to ask and look for when going into purchasing homeowners insurance can reduce stress and make the process a bit easier!

Here are some tips to help you make sure that you’re getting the most out of your homeowner’s insurance.

Purchase home insurance before closing

Your mortgage company will require that you have a homeowners insurance policy before you close on the home. With Shields, you can get a custom quote quickly and efficiently! But you might be wondering, what all does homeowners insurance cover?

Homeowners insurance policies protect your:

  • Home (primary or secondary)
  • Personal property
  • Cost of additional living expenses (following a loss)
  • Personal liability
  • Medical payments (no-fault coverage)

Make sure you are getting the correct coverage

Most people are buying the wrong insurance coverage and overpaying for it. As an Independent Insurance Agency, we will shop your coverage with numerous top-rated insurers, virtually guaranteeing you get the most competitive rates available with broad coverage terms!

Be sure to know what types of natural disasters are covered in your policy

Knowing what natural disasters occur in your area are important to know when going in to purchase homeowners insurance. Be sure to talk to your agent about protecting your home from flooding, fire, storm damage, etc. Even if you don’t think you need it, it’s always smart to be protected in case of an emergency!

Ask about additional coverage

At Shields, we offer a Personal Umbrella Policy! Personal Umbrella insurance policies provide additional limits of coverage over and above other liability policies. For example, your Personal Auto and Homeowners policies may have $300K limits. If you want to carry $1M in total limits, then you may need to purchase an Umbrella.

To learn more about Homeowners insurance, feel free to contact Shields Insurance Agency today at (205) 783-5893

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