We are buying a house, how do we find out how much the insurance will be.?

Question

We are looking at houses to purchase. We know the amount that we will need for the mortgage and the taxes , but I am not sure where to go to find out how much our insurance will be.We want to make sure we do not go over our monthly budget. Does a pool make your insurance higher?

Answer 1

Call a local agent or three, and ask them for a quote.

Some companies surcharge for a pool, for the liability, and some don't. As long as the pool is properly fenced in, it won't CREATE a problem. An unfenced pool, however, could make the house uninsurable.

Answer 2

You should insure your home for replacement cost value and depending on the age of your home, it might be much different from market value. Call a local agent who represents several companies and can quote your insurance to find you a good rate. He will need the age of the home, square footage, and dates of any major updates to heating, plumbing, wiring and roof. Estimate if you don't know exact year the updates were done. A pool may not necessarily make your rates higher, but some insurance companies will deny coverage if you have a pool. Most will accept as long as there is an approved fence around it to limit the liability exposure.

Answer 3

If you already have Automobile Insurance check to see if they write homeowners as well. If you can group them together you can sometimes get a better rate on the insurance premium.

As far as a swimming pool, check with your insurance agent on that question and whether a fence with the ability to lock a gate will be necessary to write the coverage for the homeowners policy.Your best bet is check with a local insurance agent in your state. P.S. If you have a security system in the home that is working, you definitely should be able to get a discount on your homeowners policy, just check with your agent if a document is required to be obtained from alarm company.

Answer 4

Hi, just like to know, when you mean insurance, do you mean by the mortgage reducing term insurance or the home property fire insurance?

For any insurance application, the premiums will take note of your current age, occupation, health conditions, smoker/non-smoker and the coverage period.

If you are looking for a mortgage insurance, normally its a term plan with no cash values and the basic plan covers you or joint life for death, permanent disability and terminal illnesses. Add some riders to make your plan comprehensive. The premium is the cheapest compared to other plans.

Answer 5

Start shopping. Insurance agents and brokers will give estimates for free. Most will offer more than one package. You may be surprised at the range of prices. The pool usually does incurr a slightly higher rate in liability but not much. In some fire prone areas of Ca. Ins. co.'s were giving discounts for pools because they provided water to protect property.

Answer 6

Ring an Insurance broker of company, that's their bread and butter

Answer 7

Call a Farmers agent. They have a great homeowners policy and will answer all your questions.