Tips for Getting the Best Home Insurance

Tips for Getting the Best Home Insurance

For most people, a home is the largest investment they’ll ever make. And, because this makes it also one’s largest asset, it makes sense to protect it as thoroughly as possible. The problem most homeowners face when shopping for home insurance is that not all policies are the same. Some buy far too much insurance while others protect only the house and not what’s in it.

There’s a fine line between buying the right home insurance and being inadequately, or over-insured. Here are some tips that will help you get the best insurance coverage for your new home.

Know the Value of Your Home

In order to buy the right type of coverage for your home, you first need to know the value of your property. In the event that your home is completely destroyed, you want to have enough coverage to be able to rebuild it completely. Don’t pick your policy value on a guesstimate; ask your home builder or hire a professional assessment company for a fair and true value of your home.

Estimate the Value of Your Possessions

Your home insurance policy will not only cover the structure of your home, but it also covers everything under its roof. So, you should consider all of your possessions and come up with the monetary value of them. Most homes average $20,000 worth of possessions, but some have more. Take everything you own into account and base your numbers on the items’ actual monetary values, not sentimental values.

Understand the Risk Factors That Can Affect Your Policy Premium

The higher the risk that the insurance company is going to have to pay on a claim, the higher you can expect your premium to be. For instance, if your home is located in an area with a higher-than-average crime rate, or in an area that’s prone to flooding, then you can expect your premium to be higher than homes in safer communities.

Know What the Policy Covers and What It Doesn’t

Just because you have home insurance doesn’t automatically mean that you’re covered in the event your home is damaged. Almost every policy has exclusions, usually for things like flooding and earthquakes. So, find out what your policy covers exactly so if necessary, you can purchase a rider to cover any such gaps in your protection.

Things That Can Help You Save Money on Your Policy

A home insurance company can apply a lot of different risk factors to drive up the cost of a policy, but there are also several ways you can help keep your costs as low as possible. These include:

  • Having a home burglary alarm system installed
  • Updating the electrical wiring and HVAC system
  • Having hard-wired fire alarms and a sprinkler system installed
  • Having dead bolt locks on all exterior doors
  • Having well-structured stairs, sidewalks, driveway, and entrances

Your home’s policy premium will also be lower if you have your home built near a police department, fire department, or fire hydrant.

For a Safe, Well-Built New Home Contact Trinity’s Custom Home Builder in Georgia

If you’re on the fence between buying an existing home and a brand new one, consider this – new homes tend to enjoy lower home insurance premiums because everything is built new using the most innovative and efficient materials designed to meet the latest safety standards. With a new custom home, the risk factors are simply lower than those compared to a home that was built decades ago.

Ready to start on the journey of owning your very own custom-built home? Call Trinity Custom Homes today at 888-818-0278 to schedule a consultation with one of our experienced custom home builders in Georgia.