Insurance is not what most new home buyers look forward to as they begin pursuing the Oviedo real estate home listings and envisioning themselves in their own special abode. People looking for Oviedo homes for sale will spend a lot of time researching information on properties, driving through neighborhoods, visiting open houses, and meeting with their realtor.
Once they have narrowed their search and start the bidding process on an Oviedo real estate property, buyers will then move into the packing mode and even start shopping for home furnishings, before they will stop to think about home insurance.
The Important of Home Insurance for Oviedo Real Estate
Most home buyers should know that taking out insurance on their property is a must. The last thing you want to have happen is a break-in or fire before the ink has even dried on the contract. But for many new buyers, it seems that the thought about insurance to cover their precious valuables may not arise until right before the closing.
Besides that, many people think that getting the minimal amount of insurance with the lowest annual premium is the best way to go, and it may not necessarily be the right option for everyone.
Insurance Considerations on Oviedo Homes for Sale
Insurance agents recommend the following considerations every new home buyer and current homeowner think about before signing their next insurance policy on their home.
Talk to More Than One Agent
Do not just go with an agent that is recommended by the realtor or mortgage lender. One of the biggest mistake consumers make is accepting an agent based on one person’s recommendation and taking whatever type of policy is recommended.
Insurance is not a cookie-cutter style purchase. There are nuances and differences from policy to policy so it is important for homeowners to understand what is being covered in their policy.
Know What You Get in the Event of a Loss
Not all insurance policies are made the same. It is not a one-size-fits-all type of purchase. It is important to know what is specifically covered in the event of a loss. From the home’s structure itself to the contents, it is important that property owners know what the bottom line is on their policy.
Insurance companies will calculate a final cost based on an industry formula and not on the appraised or assessed tax value.
Ask About Liability Protection
Find out if there is any coverage if someone is injured in a fall while at your Oviedo real estate property or if living expenses will be paid for if you have to live somewhere else in the event of a fire.
Know What Type of Disasters Are Covered
Florida is one of those states that you may need more than just fire protection. Lighting, hurricanes, hail, and tornadoes are all known visitors to the Sunshine State. Anyone buying homes for sale in Oviedo or anywhere else in the 500-mile long state should be sure that their property is either covered under the homeowner’s policy or may want to consider taking out a separate policy.
Remember Your Deductible
How much will you be expected to pay before you can collect any insurance money? That is important to know because as a homeowner, you will be expected to pay your deductible first. Keep in mind, the higher the deductible amount, the lower the premiums will be.
If you are searching for homes for sale in Oviedo, visit the Berkshire Hathaway HomeServices Florida Realty Oviedo real estate page to see the latest listings available in a variety of property types. We can help you find properties and recommend insurance!
