If You Are a First-Time Home Buyer
Knowing where to begin when you insure your first home can be challenging. We recommend purchasing home insurance once the home seller accepts your offer and the home is officially yours.
However, you can shop for a policy sooner, using the home’s details to see what home insurance risks it poses and to get an idea of coverage cost. Then, compare multiple quotes to ensure you chose the right provider. Some companies, such as Liberty Mutual, offer special discounts for new home buyers.
If You Live in an Older Home
Depending on your home’s age, you may have difficulty getting a traditional HO-3 policy. Instead, insurers may offer you a specialized policy with more limitations and exclusions.
We recommend working with an independent insurance agent if you live in an old or historic home. A professional can work closely with you and point you toward the right provider for your situation.
If You Live in a High-Risk Area
Finding the right insurer poses unique challenges if you live in a high-risk area that is more prone to natural disasters such as earthquakes or hurricanes. Work with an insurance agent to choose the right provider, policy, and additional coverage for your needs. You can also consult with people living in the area to determine which insurers could be a good fit.
If You Have a Banned Dog Breed
Insurers consider some dog breeds to pose a higher risk of acting aggressively and injuring other dogs or people. As a result, many home insurance companies have a list of banned breeds that they exclude from liability coverage.
Commonly banned dog breeds include the following:
- Chow chows
- Great Danes
- German Shepherds
If your dog is on this list or has a documented history of violence, your insurance company could restrict your coverage. As you shop for coverage, be honest about your pet and communicate with an insurance agent to ensure you get the best coverage possible.
If You Own Valuable Items
Personal property coverage has its limits. If you have high-value items such as jewelry or artwork, choose a provider that adequately covers them. Look for a plan that lets you increase your overall coverage amount or add a scheduled personal property rider to extend coverage on individual items.