Step 12: Set Up Homeowner’s Insurance

One of the things the mortgage underwriter will require you to do, is to set up Homeowner’s Insurance. It’s better to get a start on this task now. As most people, your home is the biggest purchase you will ever make and you want to make sure it’s properly insured.

Our biggest piece of advice is to shop your homeowner’s insurance around because rates can vary dramatically, we recommend starting with whatever company insures your car, and getting a quote from them first. You’ll likely get a discount for already having car insurance through them. After that, reach out to our two recommended providers for quotes:

  • Pemberton Insurance Group, Keith Pemberton  317-656-7793
  • Ward Insurance Company, Andy Ward  317-344-6694

Insurance Research

The research to obtain the quote, will bring attention to any past property claims or flood zones that may affect your quote. You want to know this, but should not expect to see anything that was not already disclosed. When you choose your insurer, send a copy of your policy to us, and your lender.

Have your homeowner’s insurance policy go into effect the day BEFORE you close on your new home.  That way if (heavens forbid) your new place burns down while you’re at closing, you’ll be covered. Again, get proper documentation from your new homeowner’s insurance company to provide to your lender; they will require proof of insurance before they’ll approve you for your loan

 

Have any questions?

Call or text: 317.413.1360

Email me: LeeAnnBalta@C21Scheetz.com

Posted on November 20, 2018 at 12:45 pm
Lee Ann Balta | Category: Buyer Step by Step

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