First home time buyer tips
Being a first-time homeowner does not come with an instruction book especially when it comes to making sure you have proper insurance. But not all insurances are the same.
Buying any home insurance once you have purchased the home is great but just buying any insurance is not so great. You must make sure that the insurance covers what you need and do not. It varies depending on where you live as well.
Usually, a policy will cover the actual dwelling and some of the other structures on the property, such as a fence, garage, patio, or driveway. Personal property is usually covered as well. This includes the contents inside the home, although you may need to pay a bit more in premiums for high-value items like jewelry or paintings. You will want to make sure this is covered in your policy.
Especially natural disasters are the one area that can cause some problems, as not everything is covered, and you often must buy separate flood, hurricane, or earthquake insurance—especially if you are in an area that is highly susceptible to these disasters. You also may be able to lower premiums by better protecting yourself against damage, such as adding storm shutters, reinforcing your roof, or buying stronger roofing materials.