It is a crazy experience when it comes to dealing with a home purchase. The stress can sometimes seem to the rood. Because of this, it is very easy to forget about important things like property insurance. This is essential. The professionals at Trueway Insurance is here to inform you why this type of insurance is so important. We are professionals you can trust, Palm Springs. We also specialize in home insurance quotes.

Is It Required?

You may be wondering if home insurance is required before closing on a sale. Technically, no. If you are paying your home off in cash, that is.

If you are like the rest of us and need to finance your new place, your lender will more than likely require that you purchase at least some homeowners insurance before settling on your mortgage. In most cases, you’ll be asked to provide proof that you’ve prepaid one year’s worth of coverage before the lender will consider closing.

Just like financing or leasing a car, your lender holds a lien on your house until you’ve paid off your mortgage. To safeguard what’s technically their property, lenders often want you to purchase financial protection in the form of a home insurance policy, just in case something bad happens. Ask us about our home insurance quotes.

What Exactly Do You Need To Get Covered With Property Insurance

This amount will vary depending on what your lender requires, but they’ll generally want you to carry enough coverage to pay for the cost of rebuilding your home from the ground up (at the very least), should a disaster occur. There are plenty of other factors to consider, too.

A standard homeowners insurance policy generally protects you against hazards like:

• Fire and lightning
• Damage from hail and windstorms
• Theft and vandalism
• Smoke damage
• Falling objects, like tree branches
• Damage from the weight of ice, snow, or sleet
• Frozen plumbing, heating, AC, or other household systems
• Vehicles (and even aircraft)
• Riots or civil commotions
• Explosions

That is just for your home itself. With homeowners insurance, you may also get automatic coverage for your liability, personal belongings, other structures on your property like carports and fences, additional living expenses if your home becomes temporarily unlivable, and more.

Our advice: pay it all at once. Since most lenders tend to require that you prepay one year’s worth of home coverage before you’ll be able to close your mortgage, it would help to know that you benefit in some way from this sometimes-hefty upfront cost, right? Right. Paying your homeowners insurance premium all at once allows you to exclude that premium from your closing costs, which generally include lender and other fees that you’re responsible for in addition to your down payment. Closing costs are generally paid in one lump sum.

Call Us Today

Trueway Insurance is an insurance company located in Palm Springs. We offer affordable insurance for home, car, among others. We have all the information regarding property insurance. We are here to provide quality for our customers because we believe in the power that insurance can have in any person’s life. If you are interested in learning more about what we can do for you or you have further questions regarding notaries and how they play a part in the insurance process, contact us for home insurance quotes.

Stricter Building Standards

As stated, Bay County homeowners living in floodplains must meet code standards. Individuals are instructed to raise their foundations if their hurricane damage repair costs exceed a certain threshold.

There are many homeowners that are unaware this is happening, which is alarming. The country has received calls from the residents residing in the floodplains that state they did not know they did not meet the stricter regulations. This is almost too late before they can get building permits to repair damage from Hurricane Michael. Officials state the extra regulations are needed so homeowners can keep access to relatively cheap federal flood insurance. If residents do not comply, affordable insurance may no longer be an option.

Attention Flood Zone Residents

There are roughly 104,000 people who live in the floodplains. Of this number, there is a good portion of them are in the dark when it comes to these new regulations. The county wants the public to be aware of this. They want them to be informed in order to avoid strife and delays in their repairs down the road. If the public is informed, they also get the chance to work with their insurance companies and receive the benefits they need.

The regulations on rebuilding will not apply to every floodplain homeowner, though. Any home reconstruction, rehabilitation, addition, or other improvements must meet the regulations only if the work equals or exceeds 50 percent of the building’s market value. Once the cost threshold is reached, the homes must meet the same standards as a new building, which typically means building up to current codes and raising the foundation to or above the base flood elevation.

Are you wondering who is behind these regulations? These are required by the Federal Emergency Management Agency’s National Flood Insurance Program. Since 1981, the county has participated in the program, aimed at making federal flood insurance available to homeowners living in floodplains. Without federal flood insurance, residents would only have access to private flood insurance options, which can be much more expensive.

Call Us Today

Trueway Insurance is an insurance company located in Lake Worth. We offer affordable insurance for home, car, among others. This includes those living in a flood zone. We are here to provide quality for our customers because we believe in the power that insurance can have in any person’s life. If you are interested in learning more about what we can do for you or you have further questions regarding notaries and how they play a part in the insurance process, contact us at TrueWay Insurance today.

Rating & Reputation of Home Insurance Companies

The insurance company that you select is going to be the one that you rely on when something goes wrong. If you pick the wrong company or you select one that does not have a good reputation of helping its clients, you will be left vulnerable at an already difficult time in your life. This is why it is so important to do your research and look up ratings and reviews of the companies you are considering. You can find these both from actual customers and from legitimate agencies who dedicate themselves to evaluating insurance companies. Be sure to look at both to get the most accurate picture of how the insurance company will serve you.

Modernity

The fact of the matter is that we conduct most of our business online now. In the past, we might have taken the time to go to an insurance office to speak to an agent about policies and discuss claims, but that is not the way it is anymore. While some companies have adapted to this fact, not all of them have. If accessibility is important to you and you want to be able to conduct your claims and other business online, be sure to find a company that invests in this. Check out their website for functionality and see how easy it is to navigate. Chances are good that if the website seems clunky and outdated, they are not a company that will be readily accessible.

Payment Options

Some companies will allow you to pay your premium off in installments. Some will require a down payment along with monthly payments while others will only allow quarterly payment installments. Others will not have payment installments at all and will require your premium in one lump sum. Depending on what your preference is, be sure to ask those questions before you commit to any policy. You do not want to be left paying for something you were not anticipating, especially when it is something as costly as an insurance premium.

Multiple Policies & Bundling

Some insurance companies will only offer one type of insurance. This may not appeal to you if you are in need of multiple different kinds of insurance. For instance, if you are in the market for both car and home insurance, you would benefit from selecting the same insurance companies for both of these policies. The reason behind this is that many affordable insurance companies who offer more than one type of insurance often offer bundling discounts. This allows the customer to save money and hassle because they are able to direct their monthly payments to one single company.

Contact Us

Trueway Insurance is one of the top home insurance companies in Lake Worth. We offer affordable insurance for both car and home. If you are interested in learning more about what we can offer you, contact us today.

Home insurance is necessary for homeowners everywhere. When it comes to home insurance policy shopping, there are just a few things to keep in mind. As purchasing a home is one of the largest financial decisions you will have to make, it’s good to be informed when looking at home insurance quotes to protect your investment. Trueway Insurance is a top insurance provider in Palm Springs offering comprehensive and affordable insurance policies for any budget. We pride ourselves on our customer service and offer some of the best insurance prices in South Florida. Call us today for a free initial consultation!

What To Look For When Looking at Home Insurance Policies

When looking around online for home insurance, you may think that price is the only factor and go for the cheapest option, or perhaps not be thorough in your examination of the policy itself as well as the evaluation of your current situation. There are just a few thing things to consider when shopping for home insurance, as it is always good to be informed in order to make the best decision for your specific situation. Firstly, you should consider the location of your home when determining how much you should pay for home insurance. If you are in the market for purchasing a house, you should keep in mind that where your house is located can have an impact on how much you pay for home insurance. For example, if the house is located in the same area as volunteer firefighters, or the closest fire station is over 5 miles away, rates may be significantly higher. Your insurance premiums may also be higher if the house is in a geographical location that is more prone to natural disasters such as hurricanes or wildfires. There are also other regional factors that can affect your insurance rates, such as the crime rate of the area as well as the general building costs in the area.

When shopping for home insurance, you should know the costs that are involved. When purchasing a policy, you will want to have the house insured for its replacement cost, not its market value. The amount a buyer pays for the home is the market value, while the replacement cost is what expenses are needed to repair or rebuild the entire home, including the costs that may be necessary to transport the materials to the site, as well as other factors such as inflation being taken into account. As you start to build your policy, you will need to set homeowners insurance deductibles. The deductible on your policy is how much you’d pay out of pocket on a claim. If you choose a higher deductible, your monthly premium may be lower, but if you file a claim, you will need to pay more out of pocket.

Things You Should Know When Shopping for Home Insurance Quotes

When looking for practical and affordable insurance quotes, you should know your property well. This means that you should obtain a claims history report from the seller detailing any previous damage to the home, such as flooding, fires, and other incidents. This report can let you know about any of the home’s frailties that could increase your premiums, or even make it difficult for you to get insurance. Lastly, when it comes to selecting home insurance coverages and receiving your quote, it is essential to be honest. Providing the proper information helps your insurance company provide more reliable protection and a more accurate quote. If you provide incorrect information, you could not only end up with an inaccurate quote, but the insurer may end up canceling your policy.

Contact Us today

There are just a few considerations to keep in mind when shopping for home insurance quotes in order to get the right policy for your situation. Trueway Insurance in Palm Springs provides affordable insurance for every budget. Call us today for a consultation!