Insurance Tips for First-Time Homeowners

Congratulations! You’re taking the exciting leap into homeownership. Buying your first home is a significant milestone, and with it comes a range of responsibilities – not least of which is insuring that your new investment. Navigating the world of home insurance can be daunting for first-time buyers. We've assembled a list of tips to ensure you're well-informed and your home is well-protected.

Start Early: Begin your search for insurance as soon as you have a signed purchase agreement. This ensures that there aren't any insurability issues with the home and gives you ample time to find the best policy.

Know the Value of Your Home: When purchasing insurance, you'll need to decide on the amount for which you want your home insured. This should be based on the cost to rebuild, not its market value. Remember to account for unique features that might increase replacement costs.

Bundle to Save: Many insurance providers offer discounts when you bundle home insurance with other policies, such as auto insurance. Inquire about these opportunities to save.

Document Your Possessions: Should you ever need to make a claim, having a home inventory can be invaluable. Take photos or videos of your belongings, and keep receipts for high-ticket items. Store this documentation in a safe place, preferably off-site or digitally.

Talk to your Insurance Agent or Broker: Remember, your agent or broker's role goes beyond just selling you a policy. They are partners in protection, committed to ensuring that your home, one of your most significant investments, is adequately covered. Don't hesitate to reach out, ask questions, and leverage their expertise. At MetzWood, we believe in empowering our clients with knowledge and personalized support.

Want more help as a first-time homebuyer? Check out this video for some advice from Amanda, one of our licensed advisors!

As you make memories and mark milestones within your new home, the peace of mind that comprehensive insurance brings cannot be understated. While the landscape of home insurance might initially seem vast and complicated, equipped with the right knowledge and support, you can navigate it with confidence. At MetzWood, we pride ourselves on standing beside you in this journey. Get in touch with us today to learn more.