How To Buy Homeowners Insurance For Your First House

Congratulations! There's little in life that brings a greater sense of accomplishment than signing on the dotted line for your first mortgage-and knowing that your house, yard and surrounding property are yours and yours alone. Imagine, no more greedy landlords or stupid rules. You can enjoy your home the way it was meant to be enjoyed. The next step is making sure you pick up the right homeowners insurance policy.

Buying homeowners insurance for your first house isn't nearly as intimidating as you might think it is, so relax. Once you know the fundamentals of shopping for home insurance you're going to have no problem finding a great deal on the insurance coverage your home deserves.

1)Rule Number 1-Don't insure the land. It's very tempting when you're declaring the value of your home to lump the cost of the land in with the building. While this might give you a little extra kickback if disaster ever does strike it's going to cost you more in insurance premiums in the long run than it's likely to be worth. Remember, your land isn't going to be completely ruined by hail or fire (unless you're a farmer, but that's another story altogether). It doesn't need to be insured.

2)Rule Number 2-Don't confuse cheap homeowners insurance with affordable coverage. When it comes to your insurance you get what you pay for, and the last thing you want is to sign on the dotted line for a policy only to find yourself holding the bill for thousands of dollars in damages because you didn't get enough coverage in the first place.

3)Rule Number 3-Shop around! Not all homeowners insurance companies are created equal. They have different homeowners insurance rates with different discounts, so there's no telling which one is going to give you the best deal on your homeowners insurance rates.

4)Rule Number 4-Pump up your home's security features. You're going to be filing homeowners insurance claims if your house is broken into, so your insurance provider is going to give you some discounts for keeping those damages to a minimum. Add a deadbolt to your front door, consider investing in an electronic security system and invest in double paned window glass that can't be broken into easily. These simple measures can save you 20% or more on your annual premiums.

5)Rule Number 5-Keep a fire extinguisher in the house. You'd be amazed at the number of small kitchen fires that turn into blazes every year because homeowners don't have the resources they need to put them out quickly. Just having a fire extinguisher lying around the house, full and ready for use, and a set of smoke detectors can save you up to 10% on your insurance premiums.

Shopping for homeowners insurance isn't nearly as hard as most people think it is. With a little research you should have no trouble finding a home insurance policy that will give your new house the insurance coverage it deserves.