You’ve worked hard for your home, so you want to protect it from anything that could cause harm and damage. While you can’t stop a storm from hitting your home or a burglar from breaking into a window, you can purchase homeowners insurance to ensure you’re financially covered in a worst-case scenario. Below are five tips everyone should know about when buying homeowners insurance.

What You Should Know About Homeowners Insurance When Purchasing a Policy

1. Determine the Right Coverage Amount

Depending on the insurance provider, you need enough coverage to pay the mortgage on your home. You also need to calculate the worth of your valuables and other possessions in case of theft or destruction. Another way to make sure you’re getting the correct coverage is by figuring out what it would cost to build your home from scratch, including your furniture. Umbrella insurance is an option if you want coverage for a variety of risks.

2. Compare Premiums & Policies

Your lender might suggest a specific insurance provider, but you don’t have to stick with them. You’ll save money by asking companies for insurance quotes and reading customer testimonials. Reach out to at least three providers before making a decision. Slight differences in prices or policies can make all the difference in the long run.

3. Inspect Your Policy

Read your policy thoroughly. It’s a contract, and if you miss something in the fine print, it could cost you down the road. You don’t want to realize you needed a specific type of coverage once it’s too late.

4. Know the Policy Exclusions

There are some scenarios homeowners insurance won’t cover, including power failure, faulty zoning, nuclear disaster, and war. It also won’t provide protection from earthquakes, landslides, and flooding. If you live in an area that is subject to any of these, purchase an additional policy. 

5. Keep Thorough Records

When you purchase a policy, keep records of receipts, contracts, and estimates that show what the agreed-upon coverage is. You should also take note of any phone and email conversations. These can all be helpful if you file a claim and receive trouble from the insurance company.

The experts at Integrity Insurance Solutions understand how overwhelming the homeowners insurance world can seem, so call (512) 396-2211 for a consultation. Their professionals work with an extensive network of insurance providers to present you with the most customized policy. Whether you need property, auto, or business insurance, you’ll receive individualized attention through their one-on-one customer service approach. Visit their website to see just some of the providers in their affiliate network.