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How Does Homeowners Insurance Work?

How Does Homeowners Insurance Work?


Here are some of my top tips when it comes to getting homeowners insurance. 

Homeowners insurance is a necessary evil when buying a home, but it’s often overlooked. This can be a big mistake because homeowners insurance can hold up a closing or leave you vulnerable to expensive repairs. Today I’m sharing some tips for homebuyers and sellers about homeowners insurance.

Finding the right price for homeowners insurance is key. Your rates are based on your debt-to-income ratio. If you get high-cost homeowners insurance, this could mean you can afford less when buying. Make sure you shop around, look at deductible amounts, and make sure you’re getting the right coverage.

Also, ensure you have a company that you can call to ask questions. National companies offer great prices, but they’re tough to get in contact with. If you do go with a national company, find a local insurance agent within that company that you can reach out to with any questions or claims. Homeowners insurance is necessary, and it can make the buying process a lot simpler if it’s taken care of upfront. 

 "High-cost homeowners insurance affects your buying power negatively."

One more final tip for home sellers: Make sure you’re canceling your homeowners insurance policy for that home. You usually pay in advance, and there will likely be a credit coming back to you.

If you have any questions about buying, selling, or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.


Caitie Neal

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