Insurance Basics For First Time Buyers.

Insurance Basics
Insurance Basics

You’ve compared the costs of renting vs. owning, and home ownership is in your future. As you budget for new household expenses, be sure to include homeowners insurance, which is usually more expensive than what you are paying for renters insurance.

Having enough coverage with your homeowners insurance will give you peace of mind knowing that your home is protected. There are a few things that you should consider when choosing a homeowners insurance policy.

You need to be sure that you understand what most standard policies cover. It usually includes exterior and interior damage from vandalism, fire and weather incidents. It also may cover out of pocket expenses, damage to outside structures and even medical costs if someone is injured on your property. It also covers personal property, which is why it’s so important to have photos and to keep purchase receipts of your most expensive assets.

Also keep in mind that whenever you add something to your existing home, such as a porch or an extra bathroom, you should see if your policy needs to be adjusted. Renovations and additions can add significant value to your home and you want to be sure that the new investments you have made are also covered by your insurance.

One thing that is missing from some standard policies is coverage for flood damage. Ninety percent of damage from natural disasters occurs from flooding. Insurance providers usually offer an additional policy that will have insurance for any flood damage that may occur. Keep this in mind if you have a finished basement.

Often it can take up to 30 days for new policies to go into effect. So don’t delay any longer, contact Mel Foster Insurance today.

Get A Jump On The Spring Home Buying Season.

Get a Jump on Home Buying
Get a Jump on Home Buying

With winter’s cold weather still lingering, spring can seem far, far away, but now is the time to get a jump-start on preparing yourself for the spring home buying season. Here are a few good tips to help you prepare.

Create Your Wish List

Curl up by the fireplace and make a wish list for everything you’d want in a new home. Now is the time to really think and prioritize when it comes to must haves in your new home. What does your new home need to have? What can you live without?

Pick A Neighborhood

Do a little research on the area or areas where you want to live. Do you have a school district in mind? Do you want an urban space? Are you looking for acreage in the country? Have you had your eye on that new subdivision just north of town? Now is the time to learn as much as you can about your potential new area.

Find An Agent

It is important that you consider working with a licensed real estate professional in order to save yourself time, money and hassle. There can be a lot of confusion and guesswork if you are out there navigating the market on your own, especially as a first time buyer. Working with a Mel Foster agent will give you the expertise and guidance you need to reach your home buying goals. You can find an agent by name or office location by clicking here.


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