As a first-time homebuyer, you likely don't have much experience purchasing homeowners' insurance. You should understand that it provides a bundle of coverage that protects you against various types of misfortune. For instance, it guards against losses to your house and personal property due to storms, fire, vandalism, theft, and more. It also offers liability coverage in the event you or a member of your household should injure someone or damage their property. Below are some tips to help you get the most out of your home insurance purchase.

3 Tips for First Time Homeowners' Insurance Buyers

1. Shop Around

Get quotes from at least three homeowners' insurance companies. Prices, exclusions, and coverage all vary considerably, so you mustn't settle on the first quote you receive. Also, be wary of coverage that is entirely unrealistic—either more or less expensive—when compared to the others. Scrutinize the terms to make sure you know what's being offered and what will and will not be covered.

2. Focus on Value

You may be tempted to choose the cheapest policy due to budget issues, but that could be a mistake. Instead of choosing based on price, choose the plan that offers the best value. For instance, if one insurer offers a lower deductible, higher coverage limits, and fewer exclusions for only a few dollars more per month, you should consider it. When the time comes to file a claim, you might regret choosing the cheapest coverage, as not as much of the damage will be covered and you will need to pay for expenses out of pocket.

3. Bundle Policies

To encourage policyholders to purchase all their insurance through them, most insurers offer a bundle discount. This means that if you buy your home and auto insurance through the same provider, you can often pay less than you would if you'd purchased them separately. You should also shop around for these deals as well, and research the bundled price of other policies as well.

To have an experienced insurance agent help you create the perfect homeowners' insurance policy, contact Barron Mutual Insurance Company in Barron, WI. They have served the region—including Bayfield, Burnett, Washburn, Sawyer, Polk, Barron, Rusk, and Dunn counties—since 1891. In addition to home insurance, they also carry mobile home, rental property, light commercial, and farm insurance. They will help you create an insurance bundle that protects you both at home and out in the world. You can message them via their website or call (715) 537-5141 to request a quote.