The Fiscal Fundamentals of Home Insurance

August 5, 2013

To make your path to home ownership successful and low-stress, the sensible approach to home buying includes a plan for home insurance. When considering home insurance for any new property, research the area trends in home insurance, and make sure that you understand what hidden costs may be associated with a property you’re considering. Take into account the location’s weather trends or geographic hazards. Make sure to find out if a the home will require the purchase of additional insurance policies to protect against storms, floods or winds, or if a property’s general hazard policy will suffice and cover all potential damage to the structure and its associated property.

Related: Home is where the tax deduction is

When purchasing insurance for your new home, factor in hazards, liabilities and average maintenance costs to get a realistic idea of what kind of coverage the home and its property will require. Ask your Realtor® to help you plan for the unexpected costs that can sometimes accompany a new property, and make sure that your new home is covered from the shingles on the roof down to the foundation!