Choosing the Right Home Insurance for Your First Home

Homeowners Insurance Basics For First Time Buyers

Buying your first home is one of the biggest financial accomplishments you can have in your life. Before you move into your new home, it is important to make sure that you invest in the right homeowners insurance policy to provide coverage for your new investment. Keep these tips in mind to make sure that you choose a policy that maximizes protection.

  • Insure your home for its replacement cost – when choosing the right amount of coverage, make sure that you to invest in enough protection to provide coverage for the replacement cost of your home, as opposed to its current market value. If your home is destroyed, you want to make sure that you have enough coverage to completely rebuild your home with similar materials.
  • Do not pass on liability insurance – the liability portion of your homeowners insurance will provide coverage if someone is injured at your home. If someone sues you after getting injured at your home, your liability insurance will cover any medical costs and legal fees associated with the lawsuit.
  • Protect your assets – homeowners insurance will provide coverage for your personal items that you keep in your home, up to a certain dollar amount. If you have any expensive items, such as jewelry or fine art, look into scheduling your items, which will provide even more coverage for your belongings beyond what is already covered under your homeowners policy.
  • Know what is not covered – almost as important as knowing what is covered under your homeowners insurance policy is knowing what is not covered. Knowing all exclusions of your policy will give you a better idea of when you can make a claim and if you need to invest in any extra insurance policies.

For all of your Southern California home insurance needs, contact the insurance professionals at Kelly Williams in Long Beach, California.

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