Buying a home is a big step, to say the least. Becoming a homeowner is often seen as one of the final stepping stones in adulthood and signing on that dotted line is very exciting! Owning a home comes with a lot of responsibility too. Even if the home is in great condition at the time of purchase, it’s essential to protect yourself against future unexpected expenses. Getting homeowners insurance is a necessity to be prepared and save yourself from costly damages or issues in the long run.
What is Home Insurance?
Buying a home in the sunshine state comes with great views, beaches, and a vacation right in your backyard! However, it’s not all sunshine all the time. Purchasing a home anywhere, and especially in Florida with the unpredicted weather, comes with a variety of risks. Obtaining home insurance to protect your new Florida home will protect your wallet in the event of certain unexpected circumstances that cause damage to your home or belongings. Home insurance can be tailored to offer the amount of coverage you need and is typically paid with monthly premium payments. Some home insurance policies can be bundled with your monthly mortgage payment so you don’t have to make a separate payment to cover the premium cost. If something happens to your home or belongings, you can file a claim on your insurance policy and receive a payment to cover the cost of expenses that are covered by your policy.
What Does it Cover?
Different home insurance policies cover different things. Almost every policy covers things like fire, theft, wind damage, storm damage, and smoke damage. Certain natural disasters, like flooding and earthquakes, are not covered on every policy. Homeowners in Florida and similar locations that are at a high risk of water damage and/or flooding can add additional protection to their policy. In fact, flood protection may even be required to close on a mortgage in high-risk areas.
Getting the Home Insurance You Need
Home insurance is required to finalize most home sales and mortgage loans. Your real estate agent and mortgage broker will be able to accurately assess the risks of the home you’re purchasing so you can get an insurance policy that adequately protects your home and belongings. From flooding and water damage to a trampoline being blown away or damaged in a storm, there’s a home insurance policy to cover just about anything you might need! In addition to considering the location of the home, you will also need to get an estimate of the value of your belongings both inside and outside of the home to ensure your policy has enough coverage.
Contact Lamacchia Realty to Learn More
For more information on purchasing a home in Florida and getting the home insurance to go along with it, contact Lamacchia Realty today. Our trusted real estate agents can assist both buyers and sellers of homes in Florida to make the most of every transaction and protect your assets moving forward!