Insurance 101 for First-Time Homeowners

Great Info Here.

MaryAnn Dempsey Your Local Realtor

home insuranceIf you’re thinking of becoming a homeowner, you’ve likely spent time budgeting for additional expenses – property taxes, lawn care, a big-screen TV to fill up that extra space…you get the idea. But have you factored in protection for your new home?

While you’re crunching numbers, remember to include homeowners insurance. A standard policy will cover exterior and interior damage from incidents like vandalism, fire, wind and lightning. It also covers loss of use expenses, damage to structures like sheds or gazebos, and liability and medical costs if someone is injured on your property. Personal property is covered, too – good news if you really do have your eye on that big-screen TV.

Still, standard policies aren’t comprehensive. To help you estimate how much you’ll spend on insurance, keep these points in mind:

  • Standard policy coverage can be for the cash value of your home and possessions (which may depreciate…

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