Well, a lot. Homeowner’s insurance policies are not all the same, and they certainly not all created equal.
Here is what you should know about homeowner’s insurance so you can be sure you purchase the best policy for your sawgrass country club homes for sale:
Understand the reason behind the quote.
An insurance agent will likely ask you a multitude of questions regarding the home you want to purchase, including the year the home was built, the square footage of the home, the location of the home, the city or town in which the home is located, and the number of claims on the house in the last 5 years, as all of these factors will contribute to the cost of the policy.
The deductible is up to you.
The insurance agent will likely ask you what deductible you want to carry with your policy. A policy with a high deductible will have a lower rate attached to it, but then you will need to pay more out of pocket when a claim is filed. A policy with a lower deductible, on the other hand, may cost you more each month, but will not hurt your finances when a claim is made. Generally speaking, a common deductible is anywhere between $250 and $1,000.
Homeowner’s insurance covers the structure, not the land.
If you purchased a home on a two-acre lot for $200,000, don’t be surprised when the insurance company only covers your expenses at $150,000. This is because they are insuring only the home and not the dirt upon which the home stands.
Consider Guaranteed Replacement Cost.
Guaranteed Replacement Cost means that the insurance company will not pay you just for what you paid for the home; they will pay you for the cost of replacing it, which is usually more, given construction and other home building costs. If you choose coverage that is any less, you may very well find yourself out of luck if you must repair or replace any part of your home. Posted by Carey Frankel on
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