Homeowners Insurance Facts

When you decide you want to buy your first home, homeowners insurance may not be the first thing you think about. However, most mortgage lenders require you to have home insurance before they will approve your loan. There are a few things you should know about homeowners insurance.

What’s Covered in a Home Insurance Policy?

homeowners insurance

Certain losses are excluded from most home insurance policies. Standard homeowner’s insurance policies don’t cover floods or earthquakes. If you want coverage for earthquake it can be added for a small premium to most policies in upstate New York (about $20-$50). If you want coverage for flood, you will need separate policy. If you are in a flood zone, your mortgage lender may require you to purchase flood insurance.

Keep Your Insurance Premium Low

We all know that our credit score is important for many things. Did you know it can also affect your homeowner’s insurance premium? The better your credit rating, the lower your premium. So while you’re spiffing up your credit rating to get a good deal on your mortgage loan, you should maintain a good rating to save money on your homeowners insurance.

Keep Your Homeowners Insurance Up to Date

While you are living in your new home, you will acquire new valuables, personal possessions, and may do some home improvements. You should always report these to us right away so we can ensure your coverage is sufficient for your investment.

Enjoy your new home, you deserve it!

If you have any questions regarding homeowners insurance, please contact Jankowski Agency Inc. at 518-883-3415 or online at https://jankowskiinsurance.com/. Or text us at 518-888-3054.

Reference: https://www.dfs.ny.gov/consumers/help_for_homeowners/insurance/basic_coverage

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