Have You Considered Homeowners Insurance Yet?

You’ve been dreaming of owning a house one day. A few years later and you have managed to finally save just enough for that deposit as a first-time buyer. Eureka! You found the perfect place and are in the race to get everything done as best as you can so you can call that building your home. 

Besides everything that you have already gone through i.e. Liaising with estate agents to see who the best ones are, booking those viewings, seeing multiple different houses in possibly multiple different locations, deciding on 5, then narrowing it down to just that one final dream home you have always wanted, finally putting that down-payment in front of the agents and buying the house, getting all the paperwork completed by the solicitors and legal authorities, and eventually after months of all of this, you get your keys, all the stress has finally come to an end, now you’re ready to move in! You can find out more about the steps from this online source here.

So, step one is completed, but wait, did you forget something? One small (but big) thing, that could make or break your wonderful home? 

What are we talking about? … Step 2 of the process i.e. Home Insurance. That’s what. 


What Is Home Insurance?

We will try and explain this part in as simple terms as possible.  A point to note is that this is possibly the second most important purchase you will ever make, following your property itself.

Home insurance is exactly what it says it is – Insurance for your home.  It protects the building as well as all the contents that are in the house in case there are any damages dealt with it and the standard policy limit is up to about $100,000. However, this may not be enough. It is often the case that home owners are either under insured (and sometimes over insured). The things that it covers are:


  • External Damage and Loss
  • Internal Loss or Damage
  • Injury in the Interior and Exterior of the Property Line
  • Personal Asset Loss or Damage


If you are unsure about what this covers or have no idea on how to even start to approach such a subject with an expert, there are some reputable and expert services like this source, for example, https://www.policyreviews.com that are run by professionals that can hold your hand every step of the way and give you the right advice, it is their job to do so and so they have the right knowledge on every aspect of Insurance policies and all the complicated jargon that goes with it. Let’s face it – not everyone is a wizard when it comes to these types of covers and none of us has to be either.

What Are My Options?

There are three self-explanatory types to choose from. 



  • Building Cover
  • Content Insurance
  • Combined Building and Content  


The decision will depend on the one you deem fit for your purpose and what your budget is like. 


Other Types You May Not Know About

Mortgage Insurance

Did you know you can even take out mortgage cover? In cases where you can only put down up to 20% of the cost of the home, and need to get a loan, you can acquire this option which will pay you either once in full or over the same period of the mortgage repayments. This is more for peace of mind of the mortgage company than the owner. Sometimes mortgage services can take on a buyer that cannot pay the normal monthly or annual repayments, in this case, this is the best option. 

Most often than not, when you apply for a mortgage or have any sort of mortgage broker you will apply with, you will be asked if you have home owners coverage. In the case where you do not have it, the lending authority, for example, the bank, will choose one for you for an extra fee. However, the consensus is to rather look for one on your own accord. There are a few online or via recommendations that you can use, and that will give you what you need as opposed to what they think you will need. 

Once you have found the suitable one for you, you let the bank or mortgage company know and they will handle the payments for you. Every month one of the authorities responsible for handling your assurance will tack you to the mortgage and when you pay it the bank will put the correct amount into Escrow, and when it’s time to pay will do it for you. It’s a fairly simple process, but it is still important to make sure you understand what is all on the paperwork and the legal documents, and in the event you have any confusions or queries, to ask the people handling your account immediately, don’t wait till it’s too late, you may be able to find ways to pay less than you already are.

Unoccupied Home Insurance 

This protection is available to you in instances where your home is left empty for as long as the standard policy allows, which is usually up to 60 days at most. Sometimes when houses are left empty for too long, squatters can move in and claim it for themselves, or there are higher chances of theft or damage to the property. Find out more about this adverse form of possession works here.

Sometimes even structural damage can occur without the owner’s knowledge, for instance, a pipe may burst and before you know it, messes up the entire floor of the house. If no one handles this as soon as possible it could get worse and the expense of getting it fixed may be a lot more than what your cover charges you every month. 

These types of policies often cover issues such as:


  • Theft or Broken Parts due to attempted theft
  • Water Leaks 
  • Vandalism (internal and external)
  • Legal Expenses such as to remove squatters or trespassers
  • Personal Identity Theft
  • Environmental damage such as a storm or fire


Point to note, however, is that not all providers cover all of the above, so assuming they do is not an option. So, if you’ve just bought your home and don’t plan on moving into it for a while or you are planning on travelling for a couple of months or up to a year, there could be many similar reasons why you should look into this type of coverage.

Samantha hails from Virginia and is a proud wife to a retired Deputy Sheriff and mother to two amazing little boys named Jack & William. A veteran product reviewer; Samantha has been reviewing products for 12 years and offers high quality product reviews with original photography.

Samantha hails from Virginia and is a proud wife to a retired Deputy Sheriff and mother to two amazing little boys named Jack & William. A veteran product reviewer; Samantha has been reviewing products for 12 years and offers high quality product reviews with original photography.

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