For those unaware of the policies associated with homeowner's insurance, this one's for you.

1. Tips for
Buying
Homeowner’s
Insurance

2. Do Your Own ResearchDo Your Own Research
Research the answers to these questions:
-Why do I need homeowner’s insurance?
-Does one type of insurance cover most homes?
-How much is this going to cost each month?

3. Know Your Home’s ValueKnow Your Home’s Value
You need to know the actual value of your home.
This is the biggest asset you have, so you do not
want to underestimate its value.
A great way to find an exact value is to hire a
home builder or an assessment company.

4. Shop Around Different CompaniesShop Around Different Companies
Research all of the potential insurance companies
you might want to select as your provider.
Compare each company’s coverage and look at
their customer reviews online.
Shop for the best value for the price.

5. Know The Risk FactorsKnow The Risk Factors
The higher the chances of disaster happening in
your location, the higher premium you’ll pay for
insurance.
Certain risk factors may include:
-Crime Rate
-Weather
-Living Habits
-House Location

6. Know The DiscountsKnow The Discounts
While certain risk factors can increase your
premium, there are many factors that can lower your
payment, as well.
Any house locations near a fire house or a police
department can provide a discount.
Anything that can help prevent injuries to the house
or to people will end up saving you money in the long
run.

7. Know the Different Types of
Coverage
Know the Different Types of
Coverage
HO-2 protects against all perils named in the policy.
HO-3 protects against all perils except for those excluded in the policy.
HO-5 protects newer homes against all perils except those excluded in the policy.
HO-6 insures co-ops and condominiums.
HO-7 and HO-3 policy is for mobile homes.
HO-8 is a policy for older homes that only covers actual cash value.

8. Know the Value of Your
Possessions
Know the Value of Your
Possessions
Your homeowner’s insurance will cover the
possessions you have in your home. It’s
necessary to know exactly how much your
possessions are worth.
Keep a detailed list of your belongings and how
much they are worth.

9. Combine Insurance Payments
with Mortgage Paymetns
Combine Insurance Payments
with Mortgage Payments
Adding your monthly insurance payments to your
mortgage payment is a simple way to pay your bill.
Each party wins this way. The lender’s will know you’
re paying the monthly premiums on time. For you,
this will be an easier way to budget your insurance
into your monthly expenses.

10. Know How To File A ClaimKnow How To File A Claim
We hope you never have to file an insurance claim,
but it does happen. This is why you should have
homeowner’s insurance in the first place.
If a disaster does happen, know how to deal with
the situation as quick as possible.
Find out who you need to contact by phone, by
email, smoke signals, etc. You will want
compensation as quickly as possible.