Don't Forget About the Home Insurance When Buying a House

Surprisingly, insurance can be one of the last bits of business a home buyer will take care of before closing on a new home. Buyers tend to take care of mortgages, home inspections and termite inspections immediately after they get a contract to purchase. Not so much with insurance.

It is not uncommon for buyers to wait until just a few days prior to closing to call about homeowners insurance. So, if the buyer hits a snag,  the closing could be delayed.  Since Beaufort is in a coastal region, insurance guidelines can be tougher or easier than in some other parts of the country.

For instance, the insurance company may want information on the condition of the roof and a/c unit, among other things, before writing the insurance. Time may be required to make these determinations.

Or, the insurance company may require an elevation certificate, which reveals how high above sea level the house sits, and the level of coverage which will be required. This often requires an elevation survey be conducted, which can take several days.

• Ask for different deductible options.
• Make sure you know what each policy covers.
• Since Beaufort is in a flood zone, make sure you know which zone the new home is located in.
• Ask if the insurance company offers any additional deductions for security systems.
• Determine whether the home is eligible for wind mitigation credits for roof condition, impact windows or shutters.
• Ask for multi-policy deductions. If you already have existing auto or life insurance policies with a particular company, there may be additional discounts available for buying home owners insurance with the same company.

If you have any questions regarding the home-buying process or real estate in Beaufort SC, please don't hesitate to let us know.