Home Insurance – Fair & Yeager Insurance – Natick, Sherborn, Dover, Wayland, MA, Metrowest

homeowner insurance is one of those nagging home buying details that sometimes manages to slip though the cracks. It’s not unusual for insurance agents to receive last-minute frantic phone calls from title and / or escrow companies requesting a home insurance binder. To save yourself trouble, it’s a good idea to start shopping for a homeowner policy as soon as your purchase offer is accepted. Here are a few tips about buying homeowner insurance that are designed to save you time and money:

 

Determine Insurability

Your insurance agent needs extensive information from you to quote you the best rate for your policy. To determine insurability, an agent will ask:

When was the home built?
How old is the plumbing and electrical?
What type of roof?
What’s the square footage?
How many claims have been filed over the past 5 years?
Where is the home located?

If the home is located in a rural area without a nearby fire department or there is no fire hydrant on the street, some companies may refuse to insure it. In that case, you may have to inquire at a specialty or surplus-lines company, and this quote will take longer to obtain.

 

Deductibles

You can save money by having a higher deductible on your policy. Typically, insurance companies will start giving discounts at a 0 deductible and increase the discount as your deductible increases. Most companies offer deductibles up to ,000. Be careful, however,