209 W. Cedar Ave
Gladwin, MI 48624
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Buyers

Homeowner's Insurance

Homeowner's insurance is mandatory. When you purchase a home, your mortgage lender won't allow you to close the purchase until you've demonstrated that you have proper homeowners insurance. Lenders usually insist that you pay the first year's premium on said insurance policy at the time of the closing.

  • When you buy a home, you should want to protect your investment in the property (as well as cover the not-so-inconsequential cost of replacing your personal property, if it is ever damaged or stolen). Your clothing, furniture, kitchen appliances, and other valuables can cost a lot to replace.
  • You should shop for insurance ahead of time. Get quotes on insuring properties as you evaluate them or ask current owners what they pay for their coverage. If you overlook insurance costs until after you've agreed to buy a property, you could be in for a rude awakening.
  • When shopping for insurance, explain to the insurance agent what type and cost of properties you are looking at and where they are (zip codes). They should be able to give you a ballpark monthly cost estimate for insurance. Calling insurance agents now will also enable you to begin to evaluate which insurers offer the service and coverage you desire when the time comes to actually buy your home.
  • To help minimize the cost, you should buy the most comprehensive coverage that you can and take the highest deductible that you can afford

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