Buying a home for the first time is a realization of a lifelong dream for many people. Because it’s such a significant investment, you want to rest assured that you’re making the right decision regarding homeowners insurance. Not choosing the right policy or setting your limits at the wrong level can come back to haunt you when it’s time to make a claim.

Do:

Be forthcoming when buying insurance. 

Agents will ask for details about your home when developing your policy, so it’s important to provide accurate information to ensure your home is valued correctly. If you fail to mention you have a pool or that you’re adding an extra room this spring, it could affect your ability to be covered if you need to file a claim. 

Read terms carefully.

Does your homeowners insurance policy protect against mold? What if your sewer system backs up and floods your home? Make sure you understand what is and isn’t covered within a policy. While some insurance may cover these two occurrences, others might require you to purchase separate policies to be fully protected. 

Don’t:

Underinsure your home. 

When choosing coverage, saving money on premiums should never be your primary goal. While implementing the minimal coverage is likely required by your lender, this coverage could fall short when the time comes. Instead, work with your agent to establish your risks and choose coverage based on that criteria. 

Set your deductible too high or too low. 

With homeowners insurance, your deductible and premium go hand in hand. A high deductible means low premiums, but you’ll be responsible for higher out-of-pocket costs. With a low deductible, you’ll be covered when making a claim, but you’ll be subject to a higher monthly premium. 

High Rock Insurance Agency helps clients in Lexington, NC, protect their most precious investment. If you need homeowners insurance, they’ll walk you through your options step by step. Thanks to their established relationships with trusted insurance companies, they can work to get you the best rates for your needs. They also offer many other essential insurance products, including motorcycle coverage, auto insurance, and policies designed to protect boats. Schedule a consultation today by calling (336) 236-9022. Visit them online to get started on a quote.