Buying your first home is a significant milestone, and protecting that investment with the right home insurance policy is just as important. For first-time homeowners, navigating the world of insurance can feel overwhelming.
A Guide for First-time Home Buyers 
The following guide can help you choose a policy that fits your needs:
Understand what home insurance covers. A standard home insurance policy typically includes the following:
- Dwelling coverage can help financially protect the structure of your home.
- Personal property coverage can help cover belongings like furniture, electronics and clothing.
- Liability coverage can help pay legal expenses if someone is injured on your property.
- Additional living expenses coverage can help pay for temporary housing if your home becomes uninhabitable due to a covered event.
Make sure you understand what’s included and what’s not. For example, most standard policies don’t cover floods or earthquakes; you’ll need separate policies for those risks.
Assess your coverage needs. Consider the following:
- The cost to rebuild your home (not its market value).
- The value of your personal possessions.
- Any high-value items (like jewelry or art) that may need additional coverage.
- Your risk exposure. For example, do you live in an area prone to natural disasters?
Work with an insurance broker. First-time homeowners should consider using an insurance broker because brokers offer expert guidance, access to multiple insurance providers and personalized recommendations based on individual needs. They can save time by comparing policies and handling paperwork, often at no extra cost to the homeowner. Brokers can also offer valuable support during claims and can help secure discounts, making the process of choosing and managing home insurance easier and more efficient.
Learn More
For homeowners insurance near you, contact Town & Country Ins Agency.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.