Quick Guide to Homeowners Insurance

Possibly your largest asset holds more then just your monetary investment, it holds your belongings, and your loved ones – and its your home.  They come in all shapes and sizes, but have one thing in common for first time home-buyers.  The reality is you are now faced with a new journey - an extensive budget challenge. With the keys to your house, you have also won the prize of bills and payments for other aspects associated with your new home.  Welcome to home-ownership!

It may seem a little unmanageable, but you have options when it comes to insurance, which may help lull your worries.  We cannot stop the unpredictable but we can help you protect your home in case of loss.

A couple starter tips:

Shop around! Look at policies – what they cover – how much they cost.  Ask questions. Chances are if you have bought a home – you have already had to choose insurance. But remember all policies are not identical!!  Check out the replacement cost provision – is it unlimited, 125% or 150%!  Is the personal property protection “open perils” or “named perils”   At claim time, these makes a difference.    You still have plenty of options, and should look for the one that best suits you in the long run. 

Know what basics get  covered with homeowners insurance. 

Typically things such as personal property, liability protection, additional living expenses are included.  Let insurance handle what you can not pay yourself and choose a deductible that fits your budget. 

Think about your home, and be honest with yourself.  Ask yourself how new your electric, heating, and plumbing systems are.  Remember home insurance is not a maintenance policy.  There is good news – you may be eligible for specific discounts when insuring your new home. 

Many people choose to keep their homeowners and auto polices under the same company for this reason..

Consider adding smoke detector, sprinkler and alarm systems or even good old dead-bolt locks.  The more sophisticated the systems, the more money you could potentially save on your premiums.

Remember, your homeowners insurance does not always cover everything!  

Read about some of the additional coverage’s that may pertain to you.

            Boat Insurance

            Adult Child Insurance

Finally, your policy is renewed each year – so sit down and take a look at it yearly.  Things you need covered today may be different then things you need covered next year.

If you have questions, or would like to speak about your new homeowners policy:

Call a Miller’s Insurance Agent Direct: (610) 269-4500

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