After months of research, dealing with the mortgage company, finding a real estate agent, and looking all over town, you have finally found the perfect place for you and your family. Buying a home is excited and terrifying all at the same time. You are living the American Dream, but no one ever told you the responsibility that goes into that. There are so many things to think about.

In all the planning and negotiating, one of the major items of business will be determining your homeowner’s insurance. If this is your first house and you have never had a homeowner’s policy, this might be a foreign subject. We can help you understand why you need homeowner’s insurance and how to go about getting a policy that is perfect for you at a price that you can afford.

Below are some of the questions you need to be asking yourself as you go through the process of setting up a homeowner’s insurance policy.
•   Should you choose my own insurance?
•   How far is the nearest fire station?
•   Does your new house have a trampoline or pool?
•   Is there a Homeowner’s Association in your new neighborhood?
•   Is your new home located in a flood zone?

Choose your own insurance

As you begin signing papers for your new house, you may notice that you have several options when it comes to your homeowner’s insurance. Your lender will require that you have homeowner’s insurance, and to ensure that you do, they may offer to find a policy for you and roll it all into your mortgage. While this may seem convenient and helpful at first, most of the time you will get a much higher rate going through your lender.

By shopping around with different providers and finding your own insurance policy, you will most likely find a policy that fits your needs better at a price that is better for you. At Resource Insurance Group, we work with your lender and get you into your house when the closing date comes.

How far is the nearest fire station?

You’ve always dreamed about a house in the woods. You want something out there, away from all the hustle and bustle. And you found it, the perfect home, on a perfect 5-acre lot, not too far away…but far enough.

However, as you receive your homeowner’s insurance statement, you swallow hard. The house isn’t any bigger than your previous house in the suburbs. So why did the rate increase?

The distance of the nearest fire station has an impact on your homeowner’s insurance rates. The further away the nearest fire station is located, the higher the rate. This makes sense, in a way: If, heaven forbid, you ever had a fire, every second counts. With no fire department nearby, the risk for a major or total loss of your home is much higher. And insurance companies charge for higher risk.

So as you search for your dream home, contact us for detailed rate quotes and more information about potential insurance rates for a house you’re looking at. We are here for you.

Does your new house have a trampoline or pool?

You found a house that you absolutely love. It has a nice, big, open yard for your kids to play in. And it comes with a trampoline! Or maybe it's a pool! The kids will love that. So, its settled—this is the one.

Before you jump in with both feet, check with your insurance agent. Trampolines and swimming pools are “attractive nuisances” when it comes to your insurance and may not be insurable. There are an estimated 3 million trampolines in US backyards, and injuries caused by trampolines are steadily on the rise, averaging over 240,000 medically treated injuries every year. Over 180,000 involve children aged 14 and younger. Severe spinal cord and head injuries abound.

Some insurance carriers will not write for a home that has a trampoline. Others will but only under certain circumstances, like that the trampoline is inside a 6-foot fenced area with a self-locking gate.

Is there a Homeowner’s Association in your new neighborhood?

There are many advantages to being a part of a Homeowner’s Association. Although there is usually a large annual fee, your Homeowner’s Association may save you a little money on your insurance premium. One of the pluses of an HOA is that, most of the time, common areas like a park or sidewalks will be insured under their Master policy. So if someone is injured ini those common areas, you will not be held liable, your HOA will.

However, not all Master policies are the same and you should check with your HOA to know for sure what yours covers. Once you are aware to the Master policy’s limits, we can write your homeowner’s insurance policy to cover any areas that isn’t covered by the Master policy. We will make sure that you are protected fully and effectively.

Is your new home located in a flood zone?

A home near a beach or river is some of the most sought after property in real estate. Who doesn’t love to hear the waves rolling in at night, or the gentle babbling of a river? And of course, the view is incomparable to any other.

Although a house near water may seem wonderful, an important issue to consider is that those houses are located in a flood zone and may raise your homeowner’s insurance premium. Most homeowner’s insurance policies do not cover for flood damage so you would need to purchase a separate Flood Insurance policy.

Contact our office is your think you may be affected by a flood. It is always better to be safe then it comes to your insurance. Weather is unpredictable and your home could be affected any time. At Resource Insurance Group, we look forward to helping you find the right policy and coverage for you at an excellent price. Call us today!