| It is almost inevitable that when purchasing a new | | | | means you will have to pay for those risks |
| home the homeowner will be required to also | | | | because it is more likely their services will be |
| purchase a home insurance policy. Many mortgage | | | | needed sooner than later. |
| companies who are granting the mortgage loan | | | | Most basic Homeowners insurance policies will |
| will require that proof of the Homeowners | | | | cover the house for a total replacement cost as |
| insurance policy be shown before the closing on | | | | well as the possessions of the home for a total |
| the house. This ensures that their investment into | | | | replacement cost. Because of this, insurance |
| that home is safe in case of damage or | | | | agents will be asking in depth questions about the |
| destruction. | | | | home you are about to purchase such as square |
| There are an overwhelming number of | | | | footage, the age of appliances, the air conditioning |
| Homeowners insurance companies to choose | | | | and heating units, the age of the plumbing and |
| from, making it difficult to determine what is right | | | | electrical system, and even the style of flooring, |
| for you and your home. Many mortgage | | | | countertops and cabinets. |
| companies will suggest a Homeowners insurance | | | | Although you might want to try and save money |
| company that they work in conjunction with, but | | | | by stretching the truth about the age of the |
| this does not mean you have to use that | | | | plumbing system or the style of the countertops, |
| insurance company to cover your home insurance | | | | remember that you will only receive the |
| needs. | | | | replacement costs for what you have told the |
| Before jumping in and accepting the first quote | | | | insurance company, so it is important to be as |
| that comes along, it is best to call around to a | | | | accurate and truthful as possible. |
| few different insurance companies and see which | | | | Many insurance companies will include in a quote |
| coverage plan is right for you, since different | | | | special needs perils such as flooding, hurricane or |
| companies will offer different plans and different | | | | earthquake insurance. Nevertheless, if you know |
| discounts. | | | | you live in a high risk area for any of these |
| The first thing you should ask about when | | | | particular perils it is best to ask if those are |
| determining which insurance company to use is | | | | covered under the basic policy. You don't want to |
| whether they offer special discounts. Depending | | | | get started on an insurance policy and realize that |
| on the company you may find discounts ranging | | | | you are not fully covered. |
| from fire resistant, security system discounts to | | | | The same can be said for special possessions like |
| senior citizen or dual insurance discounts. | | | | computer equipment and jewelry or furs. Often |
| A dual insurance discount usually means that you | | | | times a separate policy or a clause in the policy is |
| will receive a discount from the company if you | | | | needed to insure any special possessions for their |
| have more than one type of insurance through | | | | full replacement cost, so be sure to ask the |
| them, so check with your current car insurance | | | | insurance company about these items. |
| company to see if they offer special rates to | | | | All in all it is most important to find a |
| loyal customers. | | | | Homeowners insurance company that is reliable, |
| Keep in mind that in a similar fashion as creditors | | | | has a reputable name and has been in business |
| looking at your previous credit history, insurance | | | | for a long time. This may mean asking friends or |
| agents will be looking at your credit history as well | | | | family members who are current homeowners |
| as your past insurance history. For those who | | | | who they use for their home insurance, or even |
| may have a high car insurance crash history or | | | | searching ratings for the best Homeowners |
| for those who have a bad credit history, this | | | | insurance companies. |
| could mean higher premiums in the long run. | | | | Remember that they will have a large portion of |
| Insurance companies are taking a gamble on you | | | | your financial investment and the possessions |
| and although they assume that they may have to | | | | inside in their hands, so it is important that you |
| help replace something in your home along the | | | | feel confident in the policy and company you |
| way, if you are already a "high risk" client, this | | | | select. |