Buying your first residential property is exciting! However, it’s important to remember to protect your new asset with adequate insurance coverage. Everett Insurance Group offers homeowner’s insurance for first-time buyers in Las Vegas, NV. Here are some facts we think you should know before signing up for coverage.
- Buy multiple policies from the same agent. When you bundle your auto insurance, business policies, life insurance, and homeowner’s coverage with one agency, you can realize significant savings on your overall premium payments.
- Know your financial situation before choosing a deductible. Higher deductibles mean lower premium payments. However, if you don’t have enough savings to cover a big emergency, it’s best to opt for a lower deductible plan.
- Nevada law does not require you to purchase or maintain an active homeowner’s insurance policy. However, your mortgage lender might. Talk to your lender to ensure your policy contains all the necessary elements to satisfy your loan requirements.
- Even if your banking institution doesn’t require coverage, it’s essential to sign up for homeowner’s coverage as soon as possible after the purchase. Very few people are financially equipped to absorb the financial damage that comes with a significant catastrophe to their residential property.
- Have your home professionally assessed. Ask the assessor what risks your particular property may be privy to. Take that information to your insurance agent to help build a policy that is specifically suited to your property.
- In Nevada, flood protection is always excluded from homeowner’s policies. Talk to your agent to find other solutions, if flooding concerns you.
The experts at Everett Insurance Group are here to guide you through the process of insuring your Las Vegas, NV area home. Contact them to start customizing your property coverage today.