Buying a New Home?

Buying a New Home?
Don’t forget to include the costs of homeowners insurance.
Whether you are a first time home buyer, looking to downsize to a smaller property or considering the purchase of a second home, do not forget to factor in the potential insurance costs of the home you are considering buying when calculating the overall price of owning the house. Insurance is something that is often overlooked when factoring in costs.
Most people tend to focus on schools, neighborhoods, restaurants, shopping and property taxes.
Since you will be paying for insurance as long as you own your property, you need to factor the cost of insurance into the home buying process.

Here are a few questions to ask prior to buying which could affect the cost of your insurance premiums:

♦Is there a history of earthquakes?
♦Is the house in a flood zone?
♦Is the house vulnerable to wind damage?
♦How close is nearest fire department?
♦What is the condition of the plumbing and electrical systems?
♦Is the house well built, well maintained and up to code?
♦Does the house have a swimming pool or other water feature?
♦ What is the condition of the plumbing and electrical systems?

Don’t wait until the last minute. Ask your insurance agent if the house will qualify for insurance, and get an estimate of the premium. The sooner you act, the smoother the process will be. If you are getting ready to close escrow on a house or need a quote on your existing home call Doug Motz @ Douglas Motz Insurance Agency at 760-200-0270 or go to DougMotz.com. Check out our blog @ www.DougMotzInsurance.blogspot.com or you can follow Doug Motz Insurance on Facebook.

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