Home Owners Insurance is essential for every home owner and is often overlooked when searching for a new home.

To avoid facing unexpected costly possibly unaffordable premiums it is important to buy the right kind of home insurance you need. The type of coverage you need will vary depending on the location of your home, the surrounding areas and the age and condition of the property.

It also is important to check the Insurance history of the home – ask the current home owner for a record of any insurance claims or a copy of the loss history report or an A-PLUS report from ISO so you can find out if there have been any problems with the house in the past and also if there was any damage it has been fully repaired.

Home Insurance information for Home Buyers

Type of Materials the house has been constructed with:

A wooden house will cost more to insure than a house built with Bricks.

Age of the Property:

An older home will often cost more to insure than a Brand new build house. If you are looking at an older property make sure you get an idea of what the cost of insurance is likely to be based on any ornate features, age of the electrical systems, plumbing and particularly the condition and age of the roof. Roofs are very important to Insurance companies and certain roof types may even qualify for an insurance discount.

History of Earthquakes:

Earthquakes are not only associated with California they have occurred in 39 US states and are not covered under a standard home insurance policy. Earthquake Insurance is available but will add extra costs to your Insurance premiums.

Hurricane risk:

If your home is located on the beach or close to the cost it will have a higher insurance cost than those more inland. Your Insurance provider is also likely to include a deductible amount for Hurricanes or storms.

Flood risk:

Flood Damage is not covered by a standard home insurance policy. If you are looking at homes in areas at risk from flooding or where there have been floods in the past you will need a separate policy.

We have many articles on home insurance information and we suggest that you take time to read them as they could be beneficial in saving you money and ensuring that you have the right type of home insurance policy and cover.