OIP News - Tips When Buying a New Home

With spring just around the corner, you may be thinking that it’s time to start looking for a new home. If you’re a first time home buyer, there’s a number of insurance items you’ll need to know before you start shopping.

Insurance for first-time home buyers can be expensive. Give us a call prior to the closing date to avoid unexpected expenses. A tip for saving money? Use the same insurance provider as your auto policy. The combination of home and auto will best manage insurance costs!
When arranging for your policy, be prepared with all the details of the home - square footage, renovations and updates, and the type of plumbing, heating, and electrical - so that the most accurate estimate can be achieved on the value of the home. This is your home. Protect it!
If you have purchased a condominium, make sure you have all the details around all improvements and betterments made to the unit. Both ones you have made yourself and any made by prior owners.
Take an inventory of your personal belongings in your home. The cost to replace all of your belongings is more than you may imagine! Once you’ve taken inventory, keep the document or file in a safe place or submit it to your insurance broker for your file.
Review your property insurance policy and become familiar with the limits of coverage and common exclusions. Call us with any questions you may have. We are here to help.

Buying a home, particularly your first one, is something very special. Cornerstone/Pottruff & Smith will make the process easy by providing all protection you need. Let us protect your dreams.

Questions?
Contact the OVMA Insurance Program, administered by Cornerstone Insurance Brokers, Ltd. toll free 1.888.681.2862, ovma@csib.org