One of the things the mortgage underwriter will require you to do is to set up homeowner’s insurance. It’s best to get a start on this task now. Like 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 around because rates can vary dramatically. We recommend starting with the company that insures your car or your current home and getting a quote from them first. You’ll likely get a discount for already having 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
The research to obtain the quote will bring attention to any past property claims or flood zones that may affect your quote. You should not expect to see anything that was not already disclosed. If something new does pop up, it’s best to address it now, before closing. When you choose your insurer, send a copy of your policy to me 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 insurance company to provide to your lender; they will require proof of insurance before they’ll approve you for your loan.