Insurance experts always advise homeowners to plan for home insurance even before buying the home itself, as it plays a significant role in protecting your new investment. Always ask yourself whether you can replace the new house in case of an accident like a fire. If you’re looking to buy a home in North Carolina, Glick Insurance recommends setting aside a specific amount to purchase home insurance. Here is what you need to know about this policy.
Home insurance is a type of property policy designed to protect you, your home, and its contents. Home insurance is generally considered a package policy as it covers a wide area of your home, including the garage and your pets. The policy provides financial relief in the event of a covered accident like fire, windstorm, or theft. It also pays out if you or any other member of your home is held liable for injuries or property damage. Note that home insurance does not cover water damage caused by floods. If you live in a flood risk area, you may want to buy flood insurance early in advance to protect your home.
Your standard home insurance policy should cover all aspects of your home, like the house structure and its contents. Home insurance basic coverages include:
Note that you’ll need to buy a separate policy for expensive items like artwork, guns, and jewelry. Additionally, mold infestation and crops are not covered. You can speak with your insurance company to determine whether you need to buy separate policies for these items.
Home insurance premiums vary from one homeowner to another. Insurance providers want to know where your home is located, how many people live with you, the size and materials used to construct your home, and other factors to determine your premiums.
Buying a home in North Carolina? Glick Insurance would like to be part of your beautiful journey. Call us for quotes, questions, or new policy discussions.