Published: December 15, 2023

Securing Your New Home: A Guide to Homeowners Insurance

Purchasing a new home is an exciting milestone in life, but it also comes with several responsibilities, one of which is obtaining homeowners insurance. Homeowners insurance is essential to protect your investment and provide financial security in case of unexpected events like natural disasters, theft, or accidents. In this guide, we will walk you through the steps to get insurance for your new home, helping you make an informed decision.

Step 1: Understand Your Home Insurance Needs

Before you start shopping for homeowners insurance, it’s crucial to understand your specific needs and the coverage options available. Here are some factors to consider:

Dwelling Coverage: This covers the cost to repair or rebuild your home if it’s damaged or destroyed by a covered peril. 

Personal Property Coverage: This protects your belongings, such as furniture, electronics, and clothing, in case of theft or damage.

Liability Coverage: This provides financial protection if someone is injured on your property and sues you.

Additional Living Expenses: If your home becomes uninhabitable due to covered damage, this coverage can help pay for temporary living.

Specialty Coverages: Depending on your location, you may need additional coverage for specific risks like floods, earthquakes, or hurricanes.

Step 2: Gather Information About Your Home

Insurance providers will need detailed information about your new home to provide an accurate quote. Be prepared to provide:

• The square footage of your home
• The year it was built
• The type of construction (e.g., wood frame, brick)
• The number of bedrooms and bathrooms
• Information about safety features (smoke detectors, security systems)
• The age and condition of your roof, plumbing, and electrical systems
• Details about any recent renovations or upgrades

Step 3: Shop Around for Quotes

To find the best homeowners insurance policy for your needs and budget, it’s essential to compare quotes from multiple insurance providers. You can do this by:

• Contacting Local Agents: Local insurance agents often have knowledge of the area and can help find the right coverage.
• Using Online Comparison Tools: Websites and apps allow you to compare quotes from different insurers easily.
• Seeking Recommendations: Ask friends, family, or neighbors for recommendations based on their experiences.
• Consider Bundling: Some insurance companies offer discounts if you bundle your home and auto insurance policies.

Step 4: Review Policy Options

Once you’ve gathered insurance quotes, it’s time to review the policy options. Pay attention to the following aspects:

• Coverage Limits: Ensure that the coverage limits align with your needs and the value of your home and belongings.
• Deductibles: Understand the deductible amount you’ll have to pay before the insurance kicks in. Higher deductibles can lower your premium but increase out-of-pocket costs in case of a claim.
• Exclusions: Review what is not covered by the policy to understand any potential gaps in coverage.
• Claim Process: Familiarize yourself with the insurer’s claims process and the ease of filing a claim.

Step 5: Ask Questions and Seek Clarifications

Don’t hesitate to ask questions if you’re unsure about any aspect of the policy. Seek clarifications on coverage, deductibles, discounts, and any other concerns you may have.

Step 6: Finalize Your Policy

Once you’ve chosen an insurance provider and policy that meets your needs, it’s time to finalize the coverage. Be prepared to provide the necessary documentation and payment information to activate your policy.

Step 7: Keep Your Policy up to Date

As a homeowner, it’s essential to keep your insurance policy up to date. Update your coverage if you make significant renovations or acquire valuable assets. Regularly review your policy to ensure it still aligns with your needs.

Getting insurance for your new home is a critical step in safeguarding your investment and providing peace of mind. By understanding your insurance needs, comparing quotes, and carefully reviewing policy options, you can secure the right coverage for your new home. Remember to stay informed, ask questions, and keep your policy up to date to ensure you’re adequately protected for years to come.

For more information, visit UNITS® Moving and Portable Storage of Orange County or call (949) 430-6671.