first home

Homeowner Insurance Tips

As a first-time homeowner, you should have known by now the importance of buying a homeowners insurance from your readings, your friends and other homeowners. Just like other kinds of insurance products, a homeowner's insurance policy also covers losses, offers protection and helps you cope with difficulties arising from disasters.

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Steps to do Before Buying

Before you call a homeowner's insurance agent to take a look at your house, do the take-a-look first. This will give you an estimate of what you need and will give you the opportunity to write questions that arise while you take a look at your property.

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  1. Gather your house purchase documents and add all the expenses you had to acquire the house. This includes the home inspection costs, the closing costs, the mortgage processing costs and initial tax payments. Include the costs of repairs.
  2. Go from room to room and list all things that have value, including their purchase prices and their estimated current values.
  3. Make a separate list for things that are appreciating in value, such as jewelry, old stamps, rare books, antiques and paintings.
  4. Go around your property and lists things of value, such as lawnmowers, gardening equipment and swimming pool accessories.
  5. As you are not an expert in homeowner's insurance, just note anything that might be of value. You will have all the chance to ask questions when you meet with your broker, your agent or your homeowner's insurance professional. The important thing is you are prepared wit your data.