Tips For Insuring Your Glen Laurel Home

Buying a home in the community of Glen Laurel is a big decision, and many new homeowners rarely pay attention to the ins and outs of homeowners insurance on their new home.  Obtaining a homeowner’s insurance policy is an easy task.  You will need proof of homeowner’s insurance when closing on your new home in the Triangle area. While it may be easy to get insurance on your home, do you really know if you are adequately covered?

Coverage On Your Dwelling

Near the top of your insurance policy, you will see building/dwelling/property, which indicates how much it would cost to rebuild your home if it was completely destroyed. Keep in mind that normal insurance policies tend to not cover earthquakes or floods. You can choose to purchase policies separately that will cover these items.  Do not under-insure your home! Review your policy each year to ensure that your coverage is appropriate as the cost of building materials rise.

Liability Coverage

Liability coverage should come standard on your homeowners insurance policy. For instance, if someone visiting your Glen Laurel home were to get hurt and choose to sue you, your insurance company should step in and pay for the cost of an attorney to represent you. However, there is a limit to how much the insurance company will pay. $300,000 is a customary amount that is covered, but you do have the option of adding additional liability coverage, which is called an umbrella policy.

Deductibles

The amount you pay as a deductible is something that you get to choose.  A deductible is the amount of money that you will have to pay out of pocket if you need to file an insurance claim. The higher your deductible, the lower your annual insurance rate will be.

Extra Items

Typical insurance policies will not cover things such as jewelry, paintings, and other items of high value.  If you have items of meaning that you want to have insured, do not forget to mention these things to your insurance agent when signing up for a new policy.

If you are interested in buying or selling a home in Glen Laurel, contact Rodney Geohagan.  The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home, and is qualified to help you with all options before it is too late. There are many questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.