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Home Insurance

Insurance PapersWhen purchasing a home, you will need to acquire homeowner’s insurance. In fact, all lenders will require a policy be in force prior to funding the loan. It’s important to make sure you have enough coverage, should any unforeseen event occur whether it is accidental or a result of natural forces. When policies refer to “replacement costs” it is important to understand what that means and what it includes or excludes from  coverage.

So ask your insurance agent the “what if” questions to clarify how real life situations might be addressed. The deductible amount also plays a big part in establishing the cost of your premium. Higher deductibles generally lower the number of claims, and therefore reduce your insurance costs.

Check with your insurance agent for more information how these variables affect your costs as well as any others. If you don’t have an insurance agent, we can recommend several top-notch agents you can consider with confidence. For more helpful information regarding homeowner’s insurance, download this free brochure from the National Association of Insurance Commissioners (NAIC).

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For more information to help your in your next purchase, check out our free report called “Seven Insider Tips For Home Buyers”.