Before you finalize the purchase of your first home, you must demonstrate to your lender that you have home insurance to protect your investment and theirs. This is a whole new world for a first-time buyer, and there are many factors to consider when choosing the right insurer and policy. In Rochester Hills, MI, the team at Guy Hurley McNeil is here to provide the guidance and information you need to make the right decision.

Home Insurance Doesn’t Cover Everything

Home insurance covers many of the hazards that your home may face, but like most types of insurance, there are exclusions. Flooding is an exclusion, and if you think it could happen to your home, you can purchase a separate flood insurance policy. Earthquakes and other types of earth movement are also excluded. If your house gets invaded by termites, your insurance won’t cover the cost of remedial treatment, so you should anticipate this type of event and get preventive treatment.

Coverage Has Limits

Some areas of personal property do not have unlimited coverage. If you have a lot of jewelry, electronics, antiques, or art, you should get additional coverage to protect it.

Two Types of Personal Property Coverage

You can insure your personal property at its current value (with depreciation) or at the replacement cost.

Not All Dogs Are Covered

Some breeds of dogs are considered so high risk that your home liability insurance will not cover them. Be sure to talk to your insurance agent about what those breeds are if you plan to have a dog.

Contact Guy Hurley McNeil in Rochester Hills, MI for the help and choices only an independent insurance agency can provide. We know home insurance and are here to help you get the coverage you need.