As you sell your house and prepare to move, you’ll need to purchase a new homeowners’ insurance policy. Before you decide, there are a few key things to consider about each plan, like safety and affordability. To ensure you get the coverage you need, the experienced real estate agents at Lani Properties Corp CPM in Honolulu, HI, share some insight about what to expect.
3 Key Things to Know About Home Insurance as You Sell Your House
- You Can Control Your Monthly Payments: Your monthly premiums are based several factors, ranging from your credit score, perceived risk, and even whether or not you smoke. However, you can decrease the cost of your monthly premiums by raising your deductible as high as you can comfortably afford. If you’re not expecting to file a claim, this can save you money over the course of the year.
- Your Policy May Not Protect Against Natural Disasters: Though Hawaii sees its fair share of natural hazards, most basic homeowners’ policies do not protect your structure against damage due to earthquakes, volcanoes, and hurricanes. Since Hawaii is in the top three states for earthquake risk, you’ll want to purchase supplemental coverage to protect your home.
- Homeowners’ Policies Do Not Cover Renters: Though your insurance policy will protect you and your family, if you choose to rent out the house, your policy may not cover your tenants. In this case, encourage them to purchase renters’ insurance, so they’re protected against theft or property damage while they live on your property.
Whether you’re looking for an experienced real estate agent to help you sell your house or a realtor to help you buy a new home, the certified team at Lani Properties Corp CPM has been serving the Hawaiian Island of Oahu for 43 years. Their experts have earned a reputation for world-class customer service as they help a range of clients buy, sell, rent, and improve their property. Call (808) 521-0081 to speak to a real estate agent today or visit their website to learn more about the company.