If you are in the process of buying a home, or own a house already, finding the best home insurance policy is an essential part of protecting your investment. Homeowners insurance comes with many added benefits such as paying for repairs and replacements due to damage done by weather or wear and tear over time.

Here’s how you can start finding the best home insurance for you:smiling family sitting under cardboard roof

You need home insurance

You cannot forgo home insurance. Before you take out a mortgage on your home, your lender will require that you get enough home insurance to protect everyone that is invested in the home. If you don’t and the home is destroyed in a tornado, you’re still obligated to pay off the loan.

Often, the lender will require that the home be replaced for 100% of it’s replacement cost.

Understand that home insurance doesn’t cover everything

When you first purchase home insurance you need to understand what is and is not covered. For example, natural settling of the home is not covered by insurance. What is covered is:

  • Dwelling coverage
  • Personal property coverage
  • Personal liability coverage
  • Living expenses coverage

Water damage from hydrostatic pressure or damage that occurs over time, like settling typically is not covered.

Know what type of zone you live in

If you live in an area that is prone to flooding, earthquakes, or mine subsidence you may need to purchase additional insurance. This is what is known as hazard insurance and your mortgage lender may also require it.

Compare companies before deciding

When shopping for home insurance, compare different companies before settling. Policy rates will differ from company to company so get quotes from each. You’ll want to make sure that you choose an insurance provider that can provide comprehensive coverage for all these potential scenarios while also offering competitive rates.

Prevent damage to your home with Missouri Basement

With a basement that’s regularly inspected by professionals, you can feel confident that any damage to your foundation or basement will be noticed and swiftly taken care of. Missouri Basement’s experienced team can quickly identify any signs of trouble and provide effective solutions long before the problem is allowed to escalate and cause extensive damage.

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