Buying a Home and Don’t know what to do about insurance? Here are 5 things to consider from a Norwood Insurance Agent:
1) You will need insurance prior to the closing and a lot of times you have to pay the first year in full to satisfy the mortgage requirements.
2) Is the home in a high risk flood zone? If so you might need to purchase flood insurance as well as homeowner insurance.
3) Make sure that your home insurance agent, closing attorney and mortgage company all have each other’s contact information.
4) Does the home have a fuse electrical system? Is the roof in bad condition or is there existing damage? This could limit your insurance options.
5) Take the opportunity to quote the home with your auto insurance.