OIP News - Tips For New Home Buyers

Insurance for first-time home buyers tends to be more expensive than for home-buyers who have purchased before. So, shop prior to the closing date to avoid “sticker shock” surprises as you tally the expenses in closing a home deal.
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 done on the value of the home.
Condo purchasers should provide information about any improvements and betterments that they have paid for on a new condo or what a previous owner had done to a resale condo.
Do take an inventory of your home once you’re moved in. Contents add up in a surprising way! Without resorting to memory, an inventory allows you to submit the most accurate information on what you’re claiming in the event of a loss. Once you’ve taken inventory, keep the document or file in a safe place or submit it to your insurance broker for your file. To get you own convenient copy of an inventory tool – PS Count Me – which you can use in excel or on paper, simply go to www.pottruffsmith.com/pscountme

For more information on this and other aspects of OIP coverage, contact Pottruff & Smith Insurance Brokers Inc., the endorsed program administrator, at 1.888.681.2862.