The housing market in Northern Colorado, and Colorado in general, is booming. In Fort Collins, houses are barely staying on the market for a week, which shows just how competitive it is when it comes to owning the home of your dreams. If you have been scanning the market for the perfect house, then you’ve likely been stressing about what you need to have in line so that you’re not too slow when the perfect deal, on your ideal home, finally comes around. One of those components is homeowners insurance. Security Insurance group is a team of independent insurance agents that provide high quality insurance to those that are buying new homes, but when you haven’t shopped around there are plenty of things that you need to know about homeowners insurance, and when you’re in a rush, you’re more likely to let these items pass. Since we have your best interest at hand, we wanted to cover a few things to check for as you start the shopping process for your homeowner’s insurance.
WHAT TO CONSIDER WHEN BUYING HOMEOWNERS INSURANCE
KNOW YOUR HOME
When you are browsing your options for homeowners insurance, you’re going to want to know exactly how much your home is worth and how much insurance you’re going to need to cover it’s worth. This is something that you should definitely be aware of before you start browsing for all your homeowner insurance options, especially since it will be the primary factor in how your estimates differ. You are going to want to be as specific as you can with this, because it will be something that you’ll be upset with later on down the road if it isn’t accurate.
KNOW YOUR RISKS
Different areas have different types of risks. Homes in dry states like California, that often have droughts, will commonly need to have a homeowners insurance policy that covers damage from fires while plenty of East coast homes require coverage that can provide coverage for homes that experience damage from hurricanes. Luckily, Colorado doesn’t have to deal with nearly as many issues as most other states do. There are a few homes, however, that may need additional coverage. If you have a home along a body of water, that is a little bit more run down or is on some sort of land where a rock pile or field fire could start, then you may want to talk to your insurance agent about having additional coverage so that your home is always protected.
KNOW YOUR POSSESSIONS
Homeowners insurance doesn’t only include protection of the exterior of your home, but also the possessions that you have inside of your home. This part of the process can be a little bit more time consuming and does require a little bit of guessing. You are going to want to have a general idea of how much the furniture, what types of jewelry, watches and other valuables you’ve got stored throughout your house will cost in the case of a fire or any other sort of damage where these items would also be damaged. If there are any areas of uncertainty, your insurance agent can provide you with guidance.
KNOW YOUR COVERAGE
It’s not uncommon for people to get their homeowner’s insurance set up, and then completely forget or remain unaware of what type of coverage they have. Once you sit down with any of our insurance agents, you can ask as many questions as you need to ensure that you truly understand everything that you need to understand your policy. We are there as a resource and want you to feel comfortable with your coverage, so don’t hesitate to ask questions. These questions could lead to more information on different types of coverage, areas where you may need additional coverage, and times where you begin to remember items that you may have forgotten when creating a list of inventory for your home. What to remember with this is that there is absolutely no harm in asking questions when going through this process.
Security Insurance Group is a group of independent insurance agents that can provide you with the guidance and care that you need to have the right coverage for your new home. Reach out to us today or stop by our office in Fort Collins, we would love to help you out!