Four things you should know about home insurance

Buying a house, especially your first home, is always exciting and stressful. Before you buy your home, there are some things you need to know, including whether you need insurance and what types of coverage are available.

You need home insurance if you have a mortgage.

The top thing on your mind might be whether you are required to have home insurance. Most states do not require home insurance, but if you have a mortgage, your lender will most likely require home insurance.

Not all policies are created equal.

You might be surprised at how many people think all home insurance policies are the same. This is not necessarily true. There are many options to choose from and different coverage types that you can have or do without. Some insurance companies include certain coverage types that other companies do not cover. You have to shop around to find the right insurance policy for your needs.

There are some things home insurance will not cover.

Although most policies cover lots of things, there are some things that home insurance does not cover. Hail storms, flooding, maintenance, and earthquakes are some of the most common things home insurance doesn’t cover.

What types of coverage are available?

While home insurance has a variety of things that aren’t covered, most basic home insurance policies cover the following:

  • Dwelling coverage
  • loss of use
  • Other structures
  • Bodily injury and property damage liability
  • Personal belongings

Contact Deboo Insurance Agency Inc.

Most lenders require home insurance. If you are in the market for home insurance, stop in or contact us at Deboo Insurance Agency Inc. in Deerfield Beach, FL.