Millennials' Guide to Home Insurance

Buying your first home is an exciting experience. However, it can get stressful very quickly, especially if you don’t know what you’re doing. 
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If you’re a first time home buyer, here are some tips you can do to save money on home insurance. 

The Cost of First Home Insurance
Typically, home insurance policies cost around $952 annually. However, insurance agencies also offer more expensive plans and can cost at least $2,000 a year. Although some agencies offer tons of discounts, first time home buyers are typically not qualified to receive them.

What you can do to prepare is to look around for options. Talking to insurance agents also helps you lower costs. 

Home Insurance Cost-Cutting Tips
Before purchasing your first home, there are various ways that you can take to save money. 

If you’re wondering, here are some cost-cutting tips to save on your first home purchase.

1. Avoid Last-Minute Insurance Purchase
   Purchasing home insurance is not as simple as signing up for any insurance plan. Typically, first time home buyers get overwhelmed and leave insurance to the last minute. As a result, options become limited, and coverage might not be as great. When this happens, you can incur high costs from home insurance.
   
   To avoid putting insurance to the last minute, make sure to research home insurance providers. Also, ensure that you choose a provider that could cater to your needs and budget. 
   
   
2. Don’t Assume Costs of Insurance
   Typically, first time home buyers ask the home’s previous owner about the expenses that come with the house. These are usually electricity and taxes. However, asking about the price of home insurance might not be a smart move.
   
   The previous owner’s insurance cost is not a good measure of how much you’ll pay. What you can do is get insurance quotes from your chosen provider. Also, know that insurance agencies consider various personal information, including profession and credit rating.
   
   
3. Build Up Credit
   If you want to qualify for discounts that insurers offer, it’s best to start your insurance history as early as you can. Usually, insurance agencies offer discounts of up to 20%. Some have claims-free deals and loyalty discounts as well.

Conclusion
Purchasing a home for the first time can get quite stressful. However, through the help of home insurance, getting your dream home can be a breeze. 

At Howe Insurance Brokerage, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (435) 674-8771. You can also request a free quote by CLICKING HERE.