A Basic Guide To Home Insurance For New Homeowners

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Becoming a homeowner is ultimately a real blessing. You’ll finally be able to own something that is going to increase in value over a period of time. Plus, you’ll no longer have to worry about paying rent each and every month. Just remember that owning a house comes with plenty of new responsibilities and worries. Thankfully, it may be possible to offset some of these concerns by acquiring the right insurance. When working with a plumber, you should make sure that they have plumbing insurance. You’ll want to do the same for the HVAC tech, roofer and other contractors that you work with. Once you’re ready to move into the home, it is time to get even more coverage.

Earthquake Insurance

It is undoubtedly true that earthquakes are pretty rare. Nevertheless, they can happen from time to time. If you happen to reside in an area that is prone to earthquakes, you may very well want to acquire earthquake insurance. If your city has never experienced an earthquake, you can probably skip it and save yourself some money. Speak with your partner and find out whether or not you need this additional coverage to sleep soundly at night.

Flood Damage

If your home is positioned on a hill, you probably won’t need to worry about flood damage. Unfortunately, not everyone is this lucky. A lot of people live in areas that experience floods almost every single year. If you fit into this category, you will definitely want to invest in flood damage insurance. Otherwise, a heavy rain could cause significant damage to your home and that could wipe out your savings account. Get flood damage insurance to prevent that from happening.

Mold And Rot

Usually, your basic home insurance policy will not cover mold, fungus or rot. To get this type of protection, you’re going to need to upgrade to a comprehensive policy. It is true that this is going to increase the price significantly. Nevertheless, it may be well worth it in the long run. After all, you just never know when a pipe is going to burst or your home’s roof will begin to leak. Both could lead to mold developing in your home. You’ll want protection from such events. Mold, fungus and rot coverage can definitely help.

Water Backup of Sewer

There is a pretty good chance that you have a septic tank in your bac yard. If this is the case, you’ll definitely want to consider investing in water backup of sewer coverage. After all, a lot of homeowners are going to run into problems with their septic tank. It might begin to backup or it might even develop a crack. If this happens, the water is going to spew into your yard and that is going to create a horrible mess for everyone involved. Getting the problem fixed will be very costly and downright messy. With the right insurance, you’ll be able to simplify this problem. Suffice to say, if you use a septic tank at home, you will definitely want to add this coverage to your homeowner’s insurance policy.

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Melissa Thompson

Melissa is a mother of 2, lives in Utah, and writes for a multitude of sites. She is currently the EIC of HarcourtHealth.com and writes about health, wellness, and business topics.