| / /
|
|
In order to close on a home, you must have a homeowner’s
insurance policy.
When you do find a company, it is typical to purchase
a policy that is equal to the full replacement value of the home.
The policy can include personal items, like jewelry, art and family
heirlooms, furnishings and structures. If you have these items and
want them insured against loss or theft, speak to your insurance
agent. It is also very common to obtain a home warranty or home
protection plan for up to one year. This protects the homeowners
from paying for any unforeseen repairs on major systems or appliances
that may breakdown. Additional insurance is only necessary if you
live in areas that are high-risk for floods, fires and earthquakes,
etc.
It is always a good idea to sit down with your insurance
company and make a list of all the items in your home worth over
$50.00 in case something were to happen. If your home caught fire
or were burglarized, you’ll have a pre-written list rather
than trying to recall every item from memory. Update this list regularly.
You may also choose to take photographs of
your home and any important items in it. This can help insurance
companies and police figure out what is missing and its exact value.
Make sure to keep these photos in a safe place, perhaps outside
of your home.
|
|
|
