What you should know about insurance before buying a home


Buying a home? Saving money on insurance starts long before you move the sofa and love seat into your new house. It starts while you are searching for the perfect piece of real estate.

Before you buy a home, here are some things to think about:

  • Size of the home: Square footage matters when it comes to buying insurance. Generally, insurance costs go up with the size of the home.
  • Condition of the plumbing, heating and wiring: Older homes may lead to a higher insurance tab because of potential risks associated with outdated electrical systems or aging pipes.
  • Building materials: Think about the building materials used on the home. Homes built with sturdy fire-resistant materials such as brick, concrete and stone are cheaper to insure than softer, more-flammable materials such as wood.
  • Crime rate: Neighborhood crime is never a good thing when it comes to insuring your home. A safe neighborhood will save you money.
  • Response time for firefighters: Your insurance policy will take into account the distance of your home from a fire hydrant or fire station. It also will consider whether your home is protected by volunteer or professional firefighters.
  • Natural disasters: Think about the threat of wildfires, wind, hail, tornadoes and other natural disasters facing your home.
  • Credit history: Believe it or not, your own credit history matters when buying home insurance. If you’ve managed your finances and maintained a good credit score, you could save some cash on insurance. If not, you may pay a little more.

If you want to learn more, there’s a great article we found online. Check it out here. But feel free to give us a call if you have any questions. We’d love to help.

And just in case you’d like to see Taylor Swift’s home, here’s a sneak peak:

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