Buying a new home comes with a mixture of excitement and worry as there are many considerations to make, such as location, size, neighborhood, property taxes, packing, and so much more. Unfortunately, many people in Omaha, NE end up dwelling on the aesthetics and overlook the importance of getting proper home insurance. At Ed Thompson Insurance Agency, we recommend giving home insurance a priority as it protects your investment. Here are the four critical coverages you should seriously consider buying as a first-time homeowner.
1. Personal property
Your personal property makes up your home, and your things are probably the first thing you would want to save in the event of a fire or natural disaster. Your clothing, appliances, furniture, and even personal collections are covered under personal property coverage.
2. Additional living expenses (ALE)
Ever thought about what would happen when a disaster brings down your home? Of course, you would be lucky if you had ALE as it would allow you to live in a hotel or home in Omaha, NE to get your life back to normal as your home undergoes repair.
3. Dwelling and other structures
The dwelling coverage compensates you for damage to the interior and exterior of your house. The areas covered include the wall, floor, and ceiling. If you have other structures on your compound, such as a detached garage, other structures’ coverage helps protect them in the event of a fire or any other covered disaster.
You will need liability coverage whether you live alone, with a spouse, or parents. You never know when you will be slapped with an expensive lawsuit. Remember your guest or neighbor can sue you for injuries or property damage. The last thing you want is to start taking new loans after buying a new home.
For more information, questions, or policy discussion contact, Ed Thompson Insurance Agency today.