BUYER'S GUIDE SERIES: Get Homeowners Insurance

Welcome back to the Destination Real Estate Buyer’s Guide Blog Series! In this post, we’re covering a crucial step that many first-time buyers overlook until the last minute: getting homeowners insurance.

Why Homeowners Insurance Matters

Whether you’re buying your first home or your fifth, homeowners insurance is essential. It protects your investment from unexpected damage like fire, storms, or theft, and most importantly, it’s typically required by mortgage lenders before you can close on your new home.

What Does It Cover?

A standard homeowners insurance policy typically covers:

• Damage to your home and detached structures (like garages or fences)

• Personal property inside the home

• Liability in case someone gets injured on your property

• Additional living expenses if you're displaced due to a covered event

Optional coverage can include floods, earthquakes, or extended replacement cost, depending on your location and needs.

Tips for Getting the Right Coverage

1. Start early – Don’t wait until closing day. Begin shopping for insurance once your offer is accepted.

2. Compare quotes – Rates and coverage vary, so get at least three quotes.

3. Know your deductibles – Lower premiums often mean higher out-of-pocket costs later.

4. Ask about discounts – Bundling with auto insurance or installing safety features can lower your rate.

Final Thoughts

Adding homeowners insurance to your home buying checklist ensures your property—and peace of mind—is protected. As part of our ongoing real estate buyer’s guide, we recommend working with your real estate agent and insurance provider to find the best policy for your needs.

Next up in the Buyer’s Guide Series: Schedule a Home Inspection—don’t miss it!