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Buying a home is the largest investment you can make. Getting pre-qualified and finding the right home, in the right neighborhood, are important steps to making this dream a reality. Protecting this investment should be just as important.
When shopping for home insurance, there's much more to consider than how much your coverage will cost. You need to buy the right type of policy. You need the proper level of protection, plus special provisions for valuables such as jewelry, your computer equipment and other possessions. Additional coverage may be needed for such things as earthquakes, flooding, or other natural disasters.
Lending institutions usually require mortgage customers to purchase homeowners insurance. Don't rely on the coverage levels mandated by your bank or mortgage company. Those levels are designed to protect the house itself, but not necessarily your possessions. That's why it's important to check with your agent or insurance company, to make sure you have adequate coverage.
A Few Tips:
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See if your insurance company will offer you a discount for insuring your vehicles with them also.
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Shop your insurers offer. Get at lest three estimates before you make a final decision. Don't just shop for value, consider customer service as well.
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By raising your deductible your premiums will go down. Just make sure you have enough in savings to cover your deductible, should anything happen.
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Some companies offer small discounts if you secure your home with dead bolt locks, an alarm system, and smoke alarms.
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Ask your insurance company for discounts. Senior discounts, loyal customer discounts, or even referring a friend might save you a little. It never hurts to ask!
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