Whether you’re a first-time homeowner or have experience purchasing residential properties, there’s nothing more stressful than jumping through all of the hoops involved. From viewing properties to meeting with lawyers and signing contract after contract to agreeing on closing dates, there’s a lot that needs to be done. And then there’s the hassle of actually packing up all of your belongings and moving into your new home. Many people get so caught up in just trying to keep their heads on straight that they often neglect an extremely important aspect of the whole process: buying the right homeowners insurance.
If this is something you can relate to, then you’re definitely not alone. Purchasing home insurance can be tricky, especially if you don’t know what to look for. Here are some tips to help steer you in the right direction.
Shop Around for Coverage and Rate Comparisons
You wouldn’t purchase a new car without test driving it first, would you? Well, the same basic concept applies to purchasing insurance. Make sure you speak to a few different insurance companies, so that you can compare their coverage and rates before you decide on just one. This way, you can avoid overpaying for coverage that you don’t need.
Consider Your Location
Keep in mind that some residential locations are far more desirable than others and that can drive the insurance rates up almost by default. While you’re looking for a nice, clean, safe neighborhood that’s close to a school district, hospital, shopping center and restaurants, insurance companies have entirely different standards for determining their fees. Certain criteria such as being closely situated to a fire hydrant, fire department, or police station could potentially lower your premiums whereas being too close to a local coastline could bring it up more.
Insure Your Personal Belongings
Contents insurance can help protect all of your personal belongings in the event of a flood, burglary, fire, or any other damages from natural disasters. While recovering the cost of some of your family’s precious heirlooms won’t help bring them back, it can help you recuperate at least some of your losses in the wake of a tragedy.
Third-Party Liability Is Included in Homeowners Insurance
Say you’re watering your front lawn and you accidentally left your garden hose sticking out a little too far on the sidewalk. In the event that one of your neighbors should trip over it and sustain an injury on your property, you’d most likely be held legally accountable for the injury. But if you have third-party liability insurance, which is typically included in homeowners insurance in Mansfield, TX, then you wouldn’t be responsible for incurring any financial damages as it would be covered by your insurance policy.
Riders Insurance Protects Your Valuables
Do you have expensive jewelry, family heirlooms, antiques, or collectible items in your home? If so, you may want to consider adding riders policies to your overall insurance coverage. Riders policies can also be extended to big ticket items like flat screen TVs, computers, laptops, and even high-end appliances in case they get damaged or stolen.
Need home insurance in Mansfield, TX?
Farmers Insurance – Crystal Schuder Agency is committed to helping new and experienced homeowners find the right insurance coverage to fit their needs and budget. Contact us today to learn how we can help you find the right homeowners insurance in Mansfield, TX
Picture Credit: iStock.com/shutter_m