Denver-Housing-Market-Improves-in-2011If you are looking to purchase your first home, it is important to get quality homeowners insurance to cover your investment. There are four types of coverage in a homeowners insurance policy: (1) property damage coverage, (2) personal liability coverage, (3) medical payment coverage, and (4) additional living expenses. When shopping for homeowners insurance here are some things to consider:

  1. Maintain good credit
    If you financed your home, you had to establish good credit, but typically insurance companies check your credit as well. With a good credit report you can get a better rate and save money.
  2. Combine your insurance policies
    Although shopping around for a good rate is useful, typically you can receive discounts for using the same insurance company for your homeowners insurance as you do for auto or other insurance.
  3. Evaluate the limits in your policy
    Create a policy that will cover all major purchases or additions to your home. If you own expensive jewelry or high-end computers, you may want to purchase a floater that will provide extra insurance for those items.
  4. When buying a home, consider homeowners insurance
    If you purchase a home next to a fire hydrant or near a fire station, you might pay less for insurance. You can also save money if your electrical, heating, and plumbing systems are less than 10 years old.

Please give me a call if you would like help finding a home in the Denver Metro area. I would also be happy to give you some recommendations of trusted insurance companies in the area.

Source: InterNACHI
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