If you’re an Atlanta resident finally looking for your own home, congratulations! Buying a home for the first time is a huge step in anyone’s life – no matter when they do it. From all of us at Apex Insurance, we are excited for you! However, as you look at all the financials of buying a house, you might see a homeowners insurance quote and, quite frankly, gawk at the price. 

Why is homeowners insurance so expensive and why do you need it? We have all this and more to cover today, so let’s get to it.

What Is Homeowners Insurance?

Homeowners insurance, also known as home insurance, house insurance, or domicile insurance, is a type of coverage that pays out if something bad happens to your home. There are many different add-ons to basic homeowners insurance policies, and we’ll cover all those below. For now, just know that homeowners insurance protects you from having to pay off that massive mortgage with no house to show for it!

Why Do I Need Homeowners Insurance?

Aside from the obvious reason (you’re required by your mortgage company), why have homeowners insurance in the first place? What good does it do you, especially when it’s so expensive?

 

Homeowners insurance is a basic protection for you when it comes to your new investment: your home. Houses cost a lot of money, that’s no secret. However, if something were to happen to your house, you’d still be responsible for the mortgage debt that you took out on the building and land. Homeowners insurance ensures that in the event of a disaster, you have the funds available to pay off those debts so you can look for a new home or make repairs to yours.

What Are My Homeowners Insurance Options?

Now, basic homeowners insurance only covers the following things:

  • Direct damage to the inside or outside of your home from sources like fire, lightning, and more. Your policy provider will be able to give you all of the details.
  • Liability coverage for things like dog bites, injuries on your property, and damage caused by children.
  • Additional living expenses for situations where you might need to find temporary housing while your home is repaired or rebuilt. Again, talk with your insurance agent to see if these things are covered when you first sign up for your policy.

But the options don’t stop there. You may also need flood insurance if your home is in a flood zone – to name one example. Your insurance provider may have a whole host of additional coverages that you can get. Just keep in mind that, if you don’t really need those coverages, they will raise your bill unnecessarily.

How Do I Know What I Need for House Insurance?

If you work with a good, reliable insurance provider, they’re going to be frank with you and tell you what you need. They may give you options for if you want to go above and beyond, but don’t be afraid to level with them and ask them to give you as little as possible while meeting your actual needs. The best way to get what you need for homeowners insurance is to understand all of the options available to you so that you can make an educated decision.

Apex Insurance Services, LLC: Your Source for Every Insurance Need

Here at Apex Insurance Services, LLC, our goal is to get you fitted with just the right policy set for your needs – without charging you more than you need to pay. To get started with your homeowners quote today, get in touch with our team of insurance experts. We look forward to working with you as you buy your first or new home!