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If you are new to owning a home, or are considering buying your first home, you may be wondering when you should purchase home insurance. These are some helpful points to get you started so you can feel secure knowing that you are protected in the event of a covered loss.
Purchase Insurance At Closing
As soon as, the paperwork is completed and closing is wrapping up, you should make your homeowner’s insurance purchase. You want to walk away will peace of mind knowing that you don’t have to worry if something happens. Always maintain coverage on your home, especially if you are financing. In fact, in most cases, your insurance can be included with your mortgage so you don’t have to worry and your lender will be protected too.
Make Sure You Buy Enough Coverage
When calculating the amount of home insurance you need, you should not only consider the cost of materials, but the cost to rebuild including labor and expenses. You can opt to purchase replacement or actual value. You should speak with your insurance representative about each option to help you determine which one best suits your needs. Don’t forget to include the contents of your home so if you do experience a covered event, you can replace your major appliances and valuables and get back on track quickly. Don’t forget to keep an updated list of contents and notify your agent of any additions or changes to your home. If you live in Laurel, MD, Mid Atlantic Insurance Financial can help you get started and answer any questions you may have about homeowners’ coverage.
Don’t leave your investment to chance. Get your home insurance coverage right away and keep it up to date to prevent any uncovered losses you may incur in the future. For more information, if you live in or around Laurel, MD, Mid Atlantic Insurance Financial can give you the assistance you need. Call or stop by today to get started.