Lately I've been trying to write a little more about the aftermath of buying or renting a home. There's so much emphasis on the whole process of finding the right place but not much out there about the "happily ever after" once you've found a home. Naturally the most intensive parts are done once you've signed your lease or your purchase and sale. Then comes all the fun things like decorating, picking out furniture, throwing a house warming party, settling in. However, unfortunately there's still a few pesky things, like making sure your new home is insured.
For those who have just bought a home insurance is a very important aspect of being a homeowner. It's certainly something you can't neglect, you need to make sure your home is protected, even in Boston which tends to be free of most natural disasters. We may not see the hurricanes, tornadoes, and wildfires that other parts of the country sees, but still you need to have your home coverd. It's a necessity so here's what you can do, and what you need to consider.
To begin with just shop around, think of this like you would going to open houses and attending showings when you were finding your home. There are plenty of different insurance companies in this world but chances are you're looking for someone that can offer a policy with excellent coverage and a decent rate.
There are the major corporations and companies, chances are they're the ones you see advertised on TV. A majority of these companies will market directly to you and you will contact them directly through the internet or over the phone, these are your Geico's and Progressive's. There are also many insurance companies that will provide you with the necessary home insurance through captive agents. All State is one company that uses this model, you will have a physical person that you can go to for all your needs, but they work specifically with one insurance company. Finally you can go through an independent agent that will help you asses policies from all sorts of companies and aid you in finding quotes and picking the company and policy that is right for you.
While shopping around compare prices and what is or isn't covered with each policy. If you're living in the mountains far from water, there's a good chance flood insurance is not a popular thing, so get to know what the common inclusions and exclusions are in policies. Also decide what you really think needs to be included in a policy in order for your to accept it. In the end you want peace of mind knowing your home is safe, no matter what.
Read through everything thoroughly once you think you've found the right plan. Be skeptical of things, ask questions. Make sure that if something is "guaranteed" there isn't a price cap on the coverage.
After truly examining the policy you liked best and approving of everything, consider if there is anything else you might want to include in the plan and possibly purchase additional coverage for things not already covered in the policy. Try not to go around to too many companies and piece together your home insurance, try to stick with one or two companies, it will make your life a whole lot easier.
Of course this is Boston, and a majority of homes are condos and townhouses, so insurance may get a little tricky. All the rules above still absolutely apply but be careful. A decent amount of insurance will only cover the interior and you might want to tweak your policy to cover more obscure things that could occur including water damage or storm damage. It's just something to be aware of, it can not be stressed enough how important full coverage is.
So with that being said I hope this helps you understand a bit more about home insurance. I found a couple of great articles about finding insurance and making sure you're properly covered that might be helpful! Happy insurance hunting!