Buying a Home? Look at It Through an Insurance Lens

Buying a home is exciting. You are looking at the kitchen, imagining where the furniture will go, and picturing yourself making memories there. But before you fall in love with a house, it is also important to look at the property from an insurance perspective.

Here are a few things to consider before you buy.

How Close Is the Nearest Fire Protection?

Take a look at the property’s proximity to the nearest fire station and fire hydrant. These factors can play a role in how an insurance company evaluates the property.

Does the Home Have Security Features?

Some homes may benefit from security features such as a professionally monitored alarm system. Depending on the insurance company and property, certain systems may even qualify for a discount.

Before purchasing a home, it can be helpful to know what security features are already in place and whether they are professionally monitored.

What Happens If a Pipe Bursts?

Water damage can be one of the more costly home insurance claims. Ask whether the home has a whole house water shut off device or leak detection system.

Some systems can alert you to a leak and automatically shut off the water, potentially helping prevent a small problem from becoming a major loss.

How Visible Is the Home?

Take a look at the surrounding property. Is the home easily visible from the road and neighboring homes, or is it tucked away behind trees and landscaping?

Visibility, lighting, fencing, and other property characteristics can all be worth discussing with your insurance agent.

What About Pools and Trampolines?

Do not forget about liability exposures.

Pools, trampolines, playground equipment, certain dogs, and other features can create additional liability considerations. If you are purchasing a home with these features, make sure your insurance agent knows about them.

Talk to Your Insurance Agent Before You Buy

Your insurance agent can help you identify potential concerns before you close, and getting a quote early can also help you understand what insuring the home may cost.

You are already looking at the home from every angle. Let your insurance agent help you look at it from one more.

Before you make an offer, give the Teagle Insurance team a call. We would be happy to help you understand the insurance considerations that come with your potential new home.