Review your level of coverage. Homeowners insurance does not always protect against every possible disaster. So don’t assume that you’re covered under any and purchase additional coverage for situations like floods or earthquakes if necessary. Check your contents coverage, too. Any event that is serious enough to destroy your home will probably wipe out your personal possessions as well.
Pay your homeowners insurance premiums out of your escrow account. Allow your lender to attach your insurance payment to your monthly mortgage payment. This makes lenders happy, because they know their investment is protected. It’s also easier for you, because you don’t have to write two checks each month.
Compare homeowners insurance rates. Check rates with at least three different insurance companies before selecting a policy. Different providers have different methods of calculating risk, so your premiums may vary more widely than you think.
For more information about homeowners insurance, give us a call. We would be happy to answer your questions, help you compare policies, and your home.