What All New Homeowners Must Know About Homeowner Insurance in Dunmore PA

by | Apr 4, 2015 | Insurance

New homeowners have a lot of expenses. First, there is the down payment on the property which can be several thousand dollars. In addition to that large sum of money, you may also have to pay closing costs on your mortgage. Then you’ll need to pay a moving company to help you move into your house. On top of all those other expenses, you also need to purchase Homeowner Insurance in Dunmore PA. This policy will protect all of your other investments and give you peace of mind as you get settled into your new home.

Buying insurance starts with getting a quote. Homeowner’s insurance is one of the most complicated policies to purchase, so it’s important to use a skilled broker or agent to help you understand exactly how much insurance you need. At a minimum, you’ll need to cover the cost to rebuild your home in case it is a total loss as well as replace all of your personal property. Your policy might cover other things as well. Most homeowners purchase a liability policy that will protect them in case a guest is injured on their property. You can also add a loss of use policy that will cover your housing and some living expenses if you can’t live in your home for a period of time due to a covered event such as fire or storm damage.

There are some events that are typically not covered under Homeowner Insurance in Dunmore PA. Flooding from water outside the house is not covered but homeowners who are concerned about high water can get a separate policy that will cover their home and their belongings if water from a nearby river, lake or stream damages their property. While homeowners insurance covers other natural disasters, it won’t cover damage caused by earthquakes. However, to ensure your belongings are protected in case of ground tremors, visit Gilmartinagency.com to learn how you can add earthquake insurance to your policy. Be sure you review your coverage periodically to determine whether you still have the right amount of insurance to meet the needs of your family.

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