Do’s and Don’ts when moving into a new home
There’s something about spring that brings about a fresh sense of change and a renewed spirit. That’s probably why it’s one of the most popular times to move into a new home.
Maybe you’re a brand new homeowner, found your dream home, or downgrading into a condo. Either way, changing homes means re-evaluating your insurance needs.
Here are some do’s and don’ts when making the big move, and the four key parts of building a solid home insurance foundation.
- Change your homeowners or tenant insurance, and consider bundling with other existing policies
- Hold a garage sale, donate to charity, or throw away old items to de-clutter.
- Take an inventory of valuables in your home.
- Consider protection for your valuables against damage during the moving process. Contents Replacement Cost pays for the cost of repair or replacement subject to loss settlement.
- Consider hiring a moving company, or asking family and friends to help pack your belongings.
- Make the rookie mistakes of not making a large enough down payment, skipping a home inspection, or get lost in additional costs (i.e. legal fees, taxes etc.).
- Forget to notify your insurance company to change your auto insurance–Where you live affects the premiums you pay for your car.
- Forget to forward mail to your new address and transfer cable and Internet services.
isure’s Four Key Parts of Your Home Insurance
- The Building—Protection against major events such as fire, windstorm, lightning, vandalism and other covered events. It’s important to note that flood and other water damage is usually not covered in a home policy. Check with your broker if you are unsure of what you are covered for.
- Personal belongings—Covers the basics (clothing, furniture, other appliances) in a covered disaster. Other high value and leisure items usually have limited coverage unless you have purchased additional coverage. Due to a 70% limit of the amount of insurance you have on the structure of your home, ensure that you keep an updated list of possessions and their values.
- Personal liability—This is coverage when slip and falls and other accidents happen on your property.
- Additional Living Expenses—If your home is inhabitable after an insurance claim, your insurer will likely reimburse costs from living somewhere else, meals and other incidental costs (usually at a limit around 20% of your home’s replacement costs).
There are a number of additional home coverage options. For more information about home insurance, click here. To contact your broker, call 1-877-514-7873, email email@example.com, or connect with us on social media.