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Critical Questions to Ask When Buying Homeowner’s Insurance

May 30, 2018

Finding an experienced moving company to help you transport your belongings is one of the most important aspects of moving to a new home. However, if you’re like most homeowners, you’ll want to find a good homeowner’s insurance policy to protect those belongings in your new house. If it’s been a while since you purchased your last insurance policy, you may be wondering what types of coverage your new house needs in order to be fully protected. Here are a few questions you need to ask when shopping for a homeowner’s policy for your new home.

What exactly is my new home worth?

The purchase price for your new house may not always be a good indicator of the actual worth of the property. In fact, depending on the seller’s motivations, the purchase price may be drastically lower than the actual value of the home. Before you buy a policy, think about how much it would cost to build your home from the ground up. This includes replacing all furniture, food, cabinets, outlying structures, and every last detail that makes the house your home. Make sure the policy offers enough protection to cover the full cost of rebuilding. Otherwise, you may be underinsured and you’d have to pay the difference out-of-pocket if the structure was destroyed.

Have my insurance needs changed since I purchased my last policy?

Over time, especially as you acquire more possessions and belongings, your insurance needs will change. The type of coverage you purchased when you first bought your house may not be the type of insurance you need currently.  When shopping for a new policy, make sure the coverage limits you’re looking at are enough to protect all of your belongings. Remember, homeowner’s insurance does more than protect the physical structure of the home—it protects the items inside your house as well.

What discounts am I eligible for?

Believe it or not, many insurance providers offer discounts on the cost of your monthly or annual premium payments. However, it’s rare that they advertise these discounts. Before you agree to a policy, ask your insurance agent if there are any discounts you may be eligible for. This will help you save money on the policy and may help make your ideal coverage affordable rather than out of reach.

What does the policy cover?

Unfortunately, insurance policies do not cover every possible disaster. In fact, many do not protect your home against damage due to floods, earthquakes, or mold damage. Before you purchase a policy, it’s important that you understand precisely what the policy covers. If there are areas where your coverage falls short, you may want to purchase supplemental insurance to fill in the gaps.

Once you find the right homeowner’s insurance policy, get your move started off right by hiring the right moving company to transport your belongings. At Eden’s Moving Services, our experienced team will pack, store, and move your most prized possessions across town or across the state. Contact us today for a free estimate on your upcoming move.