Insurance + a Tip for Everyone!

When you’re buying a home, one of the most important steps before closing is securing your homeowners insurance. Your lender will require it, but beyond that, this is what protects one of the largest investments you’ll ever make.

First, make sure you understand what your policy actually covers. A standard homeowners policy typically protects the structure of the home, your personal belongings, liability coverage, and additional living expenses if you can’t live in the home after a covered event. But coverage amounts matter. You want to insure the home for its replacement cost, not just what you paid for it.

Second, pay attention to your deductible. A higher deductible can lower your monthly premium, but you need to be comfortable covering that amount out of pocket if something happens.

Third, ask about endorsements or riders. If you have jewelry, firearms, collectibles, or high-value electronics, standard coverage limits may not be enough. It’s better to clarify that before closing rather than after a loss.

Now let’s talk about flood insurance. Many buyers assume floods are covered under a standard homeowners policy. They are not. Flood insurance is a separate policy. Even if your home is not in a high-risk flood zone, flooding can still happen due to heavy rain, drainage issues, or nearby development. In some cases, lenders require flood insurance. In others, it’s optional but worth seriously considering. Flood damage can be financially devastating without coverage.

Also, if you’re buying a new build, check whether your property taxes were assessed on the land only before construction was completed. A jump in taxes later can increase your escrow payment, which affects your overall monthly housing cost including insurance.

Here’s that tip I promised. Before you fully settle in, walk through your furnished home and take clear photos of every room. Open closets. Photograph furniture, electronics, artwork, and valuables. If something ever happens like a flood or house fire, having visual documentation makes the claims process much smoother and helps ensure you’re properly reimbursed.

Follow for more home buying tips from me, Toni Haste, 817-319-0247, Texas Pride Realty Group brokered by HomeSmart Stars. I’m here to help you protect your investment from day one.