Mortgage Information from HUD
Mortgage Planning Help
Home Buyer's Guide Step 7
Shop for Homeowners Insurance
It’s important for first -time home buyers to plan for homeowners insurance.
- Homeowners insurance provides coverage in the event of damage to your property, as well as liability for injuries and damage you cause to other people.
- Get recommendations on sources for shopping for homeowners and liability insurance from your real estate agent, friends and family, or your current auto or renters insurance agent.
Other Sources for Homeowners Insurance
- Visit your state insurance department’s Web site: www.consumeraction.gov/insurance.shtml.
- The National Association of Insurance Commissioners (www.naic.org) provides information to help you choose an insurer in your state.
Check the Quality and Compare Home Damage Coverage
- Also check consumer guides, insurance agents, and online insurance quote services. This research will give you a better idea of your price range and tell you which companies have the lowest rates.
- Don’t forget: Quality service and the scope of coverage are as important as price.
- Be sure to check the resources above for complaints against any company you are considering.
NEXT STEP: Close On Your Home
- You’re so close to buying your home!
- Learn how to prepare for a successful closing.
