first time home buyer insurance

Did you know that in 2018 there were over 600,000 homes sold?

With so many people buying a house it’s no surprise that there are just as many people also buying home insurance.

Buying your first home is exciting but with everything that goes into the process for months or even years is overwhelming.

Keep reading to learn the six ways to get the best deal when it comes to first time home buyer insurance.

First Time Home Buyer Insurance Guide

Finding the perfect first new home isn’t something for the weak at heart it can be a long, tedious, and exhausting process. Especially for a first time home buyer that is learning new real estate lingo and dealing with finding the best mortgage rates.

Putting time into finding the right home insurance is something you also want to take your time doing. You want to find the best deal and the best coverage for your beloved new home.

The last thing you need is something like a natural disaster to come through soon after buying your home and poof with the blink of an eye you lose your new home and don’t have the right coverage.

The following six tips will help you have peace of mind as you enjoy your new abode.

1. Bundling

There are many insurance companies that offer discounts when you bundle your policies. For example, you can insure your new home along with your vehicle(s), motorcycle, and boat or RV.

Bundling your insurance policies can save people up to 16%. This can add up quickly depending on how much you currently pay.

2. Start Your Research Early

Since buying a house can be a long process between approvals, inspections, and offers, insurance might be the last thing you think about.

This is a big mistake.

Starting your research early will help you save money because you will not have to rush into a policy. You will have enough time to shop around and pick the perfect one for your needs and your budget.

When you purchase home insurance you want to make sure you’re covered for everything in your area including things like natural disasters or expensive antiques or collections you might own.

It’s better to be safe than sorry when something happens. Shop early and do not leave this important part of the home buying process for the last minute. Making a rushed home insurance decision can end up costing you thousands of dollars in the long run.

3. Cheapest Isn’t Always Better

Don’t automatically purchase the least expensive coverage only because of its great price. That cheaper policy might not cover everything you needs which will leave you underinsured.

What if a fire burns down half of your home or worse yet your entire house? What if the cheaper policy you chose doesn’t cover fires? Then what?

This is why you want to make sure that you understand what the cheaper policy covers. Ask why is it cheaper? Usually, it’s because only the bare minimum is covered.

A few things you want to make sure are covered include:

Liability Coverage

This covers any medical or legal fees if someone gets hurt while they’re on your property and decides to sue you.


This is where the structure of your home is covered. This includes attached rooms such as a sunroom or an attached garage.

Personal Property

This will cover the value of all of your belongings. Belongings include things such as furniture, clothing, and electronics.

4. Don’t Overspend on Upgrades

A newbie mistake is putting in the most expensive upgrades such as alarm systems to get a discount on their home insurance. Before spending a ton of money on because you think you will get a huge discount do your research.

The money you spend might not come close to the money you save. You might end up overspending thinking it will pay itself off through your insurance discount. Normally the discounts are not large enough to justify the amount being spent.

If the sole reason for choosing the biggest and greatest alarm system is for the insurance discount do your research first.

5. Establish Your Insurance History

If you live somewhere with a family member or your parents before buying your new home you can double check about being added to the policy to give you insurance history. Certain insurance companies give discounts or loyalty discounts to people who have established insurance history.

If you live in an apartment contact an agent and take our a renters insurance policy so that you can establish insurance history. If you never have a claim while you have your renter’s insurance policy your new home insurance company might give you a discount for having a loss-free claim history.

6. Call in the Pros

Sometimes calling a professional insurance agent is the BEST way to save money because they understand the laws in the area and what exactly is covered. They also understand the confusing jargon that insurance policies use.

Look for an agent that works with multiple insurance companies because they can do the comparing for you and make your life easier. They will take care of all the comparing and researching phase.

Get a Free Quote

There you have it, a first time home buyer insurance guide with six tips to help you save yourself some headaches and heartaches in the future should something unexpected happen. We can never be prepared for the unplanned but knowing that you’re covered in case something goes wrong is priceless.

Don’t wait a second longer get your free home insurance quote today.