Homeowner’s insurance can be a complicated topic, so here are five facts that are easily digestible and essential to know before you sign up for a policy.

1. Damage Coverage Varies by Source

Homeowner’s insurance policies carefully stipulate what types of damage are eligible for reimbursement. When signing up for a policy, be sure to examine which damage sources are covered and consider purchasing extra coverage if a likely danger – such as flooding for homes near water or in high rainfall areas like Hope Hills, NC – isn’t mentioned in the basic plan.

2. Your Home’s Neighborhood Will Impact Your Insurance Rates

The area surrounding your home already impacts the property value, and it will impact your insurance rates as well. Mention any nearby emergency services, especially a fire station, to your insurance provider.

3. Catalog and Categorize Everything

Keeping diligent records of the property within your home is the easiest way to ensure you are properly reimbursed in case of damage. If you expect that you’ll want to file a claim for an item, take dated photographs and store them with any relevant documents like titles and receipts.

4. Your Credit Score Impacts Insurance Rates

Because your homeowner’s insurance policy represents a financial agreement, you can expect most providers to perform a credit check to determine how well you will be able to pay your premiums and deductibles. 

5. You Are in Control of Your Homeowner’s Insurance Purchase

While you may feel like you’re at the mercy of whichever insurance company you stumble upon first. The truth is that you’ll have plenty of options that range from national companies to homegrown companies from Hope Hills, NC like Cross Creek Insurance. Take the time to shop around and find an insurance company that works for you.