5 Questions to Ask Before Getting Home Insurance

Illustration of a house protected by a bubble

Homeownership is a big commitment, and it’s important to know what you’re getting into before diving in headfirst.

Home insurance coverage provides financial protection against losses or damages to your house and possessions, as well as injuries that may occur on your property.

So, if you’re a new homeowner, we’re sure you’ll be happy to know that you can get home insurance in San Angelo at an affordable price.

Save yourself the stress, time, and money — read this guide to find out what to ask before buying home insurance.

1. What Will My Policy Cover?

The first step to buying home insurance is understanding what it covers. Every policy is different. Some will cover damage from a flood, fire, and other natural disasters, but you may need to add additional coverage for earthquakes or landslides. Some policies will cover the structure of your home and the items inside, while others may only cover the structure.

A standard homeowners insurance policy includes coverage for your home and personal belongings, temporary living expenses if your home is uninhabitable, personal liability, and medical payments for people injured at your home.

The amount of coverage offered varies by state, but it tends to be around $100,000 to $500,000. Of course, you can buy more than that if you need it.

2. How Much Does It Cost?

When you buy a home, you’ll probably be spending more than you ever have on your monthly expenses. As a rule of thumb, home insurance should cost about 0.2% to 0.4% of your home’s value per year, depending on the region and any special features (like a swimming pool).

For example, if your home is valued at $160,000, insurance should run between $320 and $640 per year — or $27 to $53 per month.

3. Can I Get A Discount?

Installing a few things can earn you a discount. These include:

Fire alarms and smoke detectors
Burglar alarms
Deadbolts on all exterior doors
Gated community
Swimming pool with a fence around it
Sprinkler system in the house, or one outside for the lawn and garden
New roof, siding, plumbing, or electrical wiring

4. What Isn’t Covered?

Events usually not covered under standard homeowners’ policies are:

Flood damage (may require a separate policy)
Earthquake damage (may require a separate policy)
Damage caused by poor maintenance (for example, if termites or dry rot cause part of your home to collapse).

5. How Much Coverage Do I Need?

The amount of coverage you need depends on the value of your home and its contents. In addition to the structure of your house, you’ll want to insure your belongings and other structures on the property, such as sheds or fences. Be sure to list high-value items like jewelry or collectibles separately with their own valuation schedules.

Pronto Insurance is a trusted provider of home insurance policies, auto insurance, and various health coverage plans to its valuable clients residing in San Angelo.