HomeOwners Insurance

What You Need to Know About Home Owners Insurance

  When you purchase a home, you will need homeowners insurance. Just like a bank requires you to have full coverage insurance on your car when you borrow money, the same goes for the lender of the loan for your home. The banks want to make sure incase something should happen that they would be able to recoup the cost of the loss.

 You just never know what issue could ever come up with your Durango real estate. Fire, hurricanes, earthquakes, and floods are all too often a part of life today. With natural disasters and man-made accidents a possibilty, you will want to protect your greatest asset.. your home. 

The following are tips and questions to keep in mind when shopping for homeowners insurance:

  • Combine your homeowners insurance coverage with your auto and you could save up to 10%. 

  • Check out and receive all the discounts you qualify for. Homeowners insurance discounts are often available for smoke detectors and fire alarms, alarm systems, and updates to your home, such as a new roof, electrical, plumbing, or heating system.

  • Find out if your policy covers issues such as:    A foreign army invades the United States, destroying your house in the process.   A car plows into your living room;  A skunk gets into your house, and now everything you own stinks.

Questions to Ask your Agent

  • How much per month will homeowners insurance cost me?
  • Are there home owner deductibles I must pay before the homeowners insurance begins to help cover my costs?
  • What does the homeowners insurance policy cover, and what doesn't it?

When applying for a loan whether new or another one, be sure to have your homeowners insurance set up before closing so the lender is well aware that their liability is covered. This payment can also be included in your monthly  mortgage payment and this can be set up by escrow. (for more information please see our newest connection in Sell house fast Buy to let mortgages Quick home sales Remortgages Equity release Bridging Loan )

If you have more questions, please feel free to let us know. We would be happy to help you locate homeowners insurance, a lender and of course find any Durango CO real estate, home or property.

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