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Buying a home will be one of the biggest investments you make in your life. Not only is it a large financial purchase, but it’s also a significant life step. Accidents can happen, though, and severe inclement weather can pass through, so having your home protected with insurance will help cover anything that comes your way. With so many policies to choose from out on the market, taking these tips into consideration will help you protect the investment of a lifetime.


Shop around. 


Make sure you know your options as you look for an insurance policy. There are tons of insurance agencies to choose from, so get a quote from a handful of them to assess their coverages, limits, and deductibles. Don’t sacrifice your protection for the lowest cost either—it’s better to pay more and have coverage than pay less and not be insured when circumstances don’t turn in your favor.


Get the company rating. 


Specifically, look for third-party websites like A.M. Best to compare businesses without company bias. You’ll be able to assess a company’s ability to meet its promised obligations to its customers and determine whether the company as a whole will be the right fit for you. 


Take advantage of any and all discounts. 


Many companies offer discounts for buyers who have displayed behavior that mitigates risk, so it’s wise to take advantage of them if offered to you. Some companies may offer discounts simply for being a new home buyer. Others may offer you a better rate for an improved credit score. The higher your credit score is, the less you’ll be considered a risk to an insurance company.


Know the costs. 


When you’re insuring your house, you’ll want it insured for its replacement cost, not its market value. Insuring for market value will denote how much you paid for the house; going for the replacement cost will concern expenses that arise due to repairing or, if need be, rebuilding the entire home.


Know your coverage policy. 


It’s more common than not for a homeowner not fully to understand their coverage than otherwise. An insurance policy has every detail of what is and isn’t covered by your policy, and it’s understandably not very exciting to read. However, reading your policy is important, and if something doesn’t make sense, you can call your insurer to ask for an explanation.