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What Insurance Factors to Consider When Buying a New Home

May 16, 2019

How to & Tips

What Insurance Factors to Consider When Buying a New Home

Buying a Home? Consider These Insurance Factors

With home prices continuing to becompetitive and interest rates low, many people are beginning to dip their toesinto the real estate market. Regardless of whether you are a first time homebuyer or a seasoned home buyer, it's important to consider insurance whenpurchasing a property. You will need homeowners insurance in Renton, WA so it's a good idea to know what to expect when buying your dream home. Besure to ask yourself these questions so that you understand your homeinsurance needs.  

  • What's the condition of theproperty? Homes that are well built and wellmaintained are ideal. If they were built by reputable builders using disasterresistant materials to meet current building codes, they are more likely towithstand natural disasters.
  • What's the condition of the plumbingand electrical systems? Poorlymaintained and unsafe systems can cost a lot more to insure.
  • How far is the home from the firestation? Houses that live near fire departmentsor even water hydrants are usually cheaper to insure because they have a betterchance of minimizing fire damage.
  • Is the home at risk from flooding? Be aware that standard home insurance policies donot provide flood coverage, so if your new property is located near a watersource, it's a good idea to secure a separate flood insurance policy.
  • Is the home vulnerable to winddamage? If your home is located near the beachor coast, it may be more costly to insure than one inland.

A professional insurance agent canhelp in answering these questions and securing the right policy for your needs.Keep in mind that the size, location, construction, and overall condition ofthe property can affect the cost, choice, and availability of home insurance.

Are you ready to find the right home insurance policy? Visit the professionals at Humble & DavenportInsurance to get started on your tailored home insurance.

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