Buying a home is an exciting milestone, but it also comes with a lot of responsibilities. One of the most important is protecting your investment with the right insurance policy. As a first-time homebuyer in Kannapolis, NC, you may not be familiar with the ins and outs of home insurance.
That’s where Pethel Insurance Group comes in – we’re here to provide you with the guidance and support you need to make informed decisions about your coverage. Here are some essential things to know about home insurance as a first-time buyer.
Types of Coverage
There are several types of coverage that are typically included in a standard homeowners insurance policy:
- Dwelling coverage: This covers the physical structure of your home and any attached structures, like a garage or deck.
- Personal property coverage: This covers the belongings inside your home, like furniture, clothing, and electronics.
- Liability coverage: This covers you if someone is injured on your property or if you accidentally damage someone else’s property.
- Additional living expenses coverage: This covers the cost of temporary housing and other expenses if you’re unable to live in your home due to a covered loss.
Factors to Consider
When selecting a home insurance policy, there are several factors to consider:
- Deductible: This is the amount you’ll pay out of pocket before your insurance kicks in. Choosing a higher deductible can lower your premium, but you’ll need to pay more if you file a claim.
- Limits: This is the maximum amount your insurance company will pay out for a covered loss.
- Endorsements: These are additional coverages to protect against specific risks, like floods or earthquakes.
- Credit score: Your credit score can impact your premium.
- Location: Your home’s location can impact your premium, as some areas may be at higher risk for certain types of damage.
Contact Pethel Insurance Group Today
Navigating the world of home insurance can be daunting, but it’s an essential step for any first-time homebuyer in Kannapolis NC. Contact us today to learn more about our services and how we can help you protect your new home.