Home Insurance - Know What You Are Buying

When you're buying a home it can be a hectic time, full of details that need attending in a short period of time. One of those details is arranging for the insurance on your new home and its contents. It's a necessity to have home insurance in place on the day you take ownership, to ensure that your investment is protected.

Start out by checking with your lawyer about the existing home insurance on the property. In the adjustments at closing, it's typical that the home insurance on the property will be cancelled, and it's your responsibility to arrange for new insurance with the carrier of your choice. Your lawyer can confirm whether this is the case, and that no insurance benefit is transferring to you upon closing and therefore no expenses are being incurred by you.

Surprisingly, a good starting point in looking for your new home insurance can be your real estate company. Some of the more progressive real estate companies, such as Coldwell Banker, have forged alliances with other national companies to offer special benefits to their customers. With these programs, your status as a real estate customer entitles you to special discounted or group rates on home- related services, such as insurance. However, all programs are not alike, so weigh the features carefully. The better homeowner insurance programs will also offer additional customer perks such as a customer assist Helpline that can also provide you with quotes over the phone or online in a very short matter of time, so comparison shopping is easy and convenient.

Every homeowner wants to enjoy the peace of mind that home insurance offers. How to be sure that you're getting good value for your money is another question especially when it's hard to find the time to investigate different alternatives. When comparing one company's quote against another, make sure that you are comparing apples to apples , i.e. that all the variables are comparable. For instance, what is the deductible amount that you must pay before the insurance kicks in? What is the maximum value the company has allowed for the replacement of the house, the garage, and the home's contents? How much is allowed for living expenses if you have to live outside the home while repairs are being made? What are the policy's exclusions? Read the fine print first.

Some people are surprised to learn that simply by choosing to work with one real estate company over another, they can qualify for special customer services or discounts. When money is tight and time is at a premium, why not take advantage of proven performers that can save you time and money on a variety of moving related expenses? If you'd like to know more about Coldwell Banker Canada's alliance programs, ask your real estate professional.