Homebuyers often do not think about budgeting for insurance, especially if it is their first home. At Alloy Insurance Partners in Dallas, TX, we want to eliminate the confusion and headache of purchasing your first insurance policy. Here are some tips to make a wise decision.
Determine the Right Amount of Coverage
Look to ensure the home for replacement cost and not market value. It’s best for one of our agents to assess your property to accurately determine the coverage needs. You’ll want to make sure that your policy covers at least 80% of your home’s value.
Understand Your Policy
It’s important to know what your policy covers and what it doesn’t. One of our agents will ensure that you select the coverage that meets your needs and your budget. You’ll be made aware of any exclusions to determine if you want to leave them out or not. We take pride in total transparency to our customers.
Determine your Out of Pocket Figure
The deductible is the amount that you are responsible for paying before the insurance takes over. The monthly premium is lower if you raise your deductible. However, you’ll need to determine if you can afford that amount if there is a claim. We’ll help you navigate through the different options and what options work best for you.
Moving into your first home is exciting, and choosing the right policy is one less thing that you should worry about. At Alloy Insurance Partners in Dallas, TX we are prepared to provide you with the answers to all of your questions regarding your first home insurance policy. Stop by our office to find out more about policies and coverage for first-time buyers. We look forward to helping you.