Owning your home is an important part of a financially stable lifestyle. However, first-time homebuyers often underestimate the importance of a high-quality home insurance policy. How can a customized homeowner’s insurance policy from the Wurzel Agency in Oviedo, FL help you protect your Florida residence? Here are some things you should know about homeowner’s insurance as a first-time buyer.
You Really Do Need Insurance
The state of Florida doesn’t require you to have an active homeowner’s insurance policy. If you’re financing your home, however, your lender probably will need you to carry a comprehensive policy through the life of your loan.
Even if it isn’t required, you really do need an active and adequate insurance policy. Home repairs often cost more than expected. A big event like a storm, fire, or theft could drain your savings and leave you vulnerable to future emergencies. Your homeowner’s insurance policy protects your personal assets and ensures you will always have a comfortable place to call home.
All Contracts Are Not Created Equal
Homeowner’s insurance policies are designed to meet the needs of each individual subscriber. While there are some common elements to each contract, yours can be customized to speak to your specific needs. Your policy could include coverage for:
- Structural damages
- The contents of your home
- Personal belongings
- Additional structures on your property
- The surrounding grounds
- Internal structures like sewage systems and sprinkler systems
The representatives at the Wurzel Agency are always happy to help you find the perfect coverage for your family home.
Opt for a Lower Deductible
Many insurance subscribers choose a high deductible plan. This strategy reduces their monthly payments and helps them keep more of their cash. However, when a disaster occurs, these subscribers often find themselves scrambling for the funds to cover their portion of the repair bill. Choose a lower deductible to ensure you can afford needed repairs when they come up.
Talk to the agents at the Wurzel Agency for more information on homeowner’s policies for first-time buyers in the Oviedo, FL area.