Spring is known as “homebuying season,” and with good reason. That’s because April, May and June account for 40 percent of home sales for the entire year.
If you’re in the market for a new home, you probably already know there’s a long list of things to consider when it comes to one of life’s biggest purchases. From the mortgage payment to the neighborhood to the property taxes, there’s a lot to ask about.
One thing you definitely want to add to the list is homeowners insurance. It’s important to think about coverage before you put in a bid, since past claims for more serious issues could be a cause for concern. Serious claims can leave unseen damage behind—and make it hard to get coverage once the home is yours.
Furthermore, the location, size, materials and condition of the home can all affect the cost of insurance. And everyone wants to know the true cost of a home before making an offer.
Learn which insurance questions to ask before buying a new home by watching the video above, which was produced by the Insurance Information Institute.