Buying A Home
cls78
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Homeowner Insurance Shopping
Any tips? Going through quotes and trying to pick the best one. TIA!
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Re: Homeowner Insurance Shopping
In terms of how much to insure, don't include the land your property sits on. For example, if you bought your house for $300K, but the house could be totally rebuilt for $200K...then you would only want to insure for $200K.
Keep the deductible on the higher side to decrease your costs. The nasty thing about home owner's insurance is it will go up substantially and for a very long time if you ever have a claim...as such, you only want to use your HOI if something MAJOR happens.
And definitely shop around...but always make sure you are comparing apples to apples.
Even if you are not in a flood zone, consider getting flood insurance. If you aren't in a flood zone, it is pretty cheap to buy (<$300/year). Generally speaking, floods are NOT covered in an HOI policy. But crazy things can happen. My parents' house is not in a flood zone, but was partially flooded many years ago because a trash can had fallen into the street's gutter and all the water rerouted into their home.
Good luck! I know it is a hateful process, lol.
If you're shopping for homeowners insurance for a home that you're in the process of purchasing - don't take too long to make your decision. Some insurance companies will wait until after closing to do their inspection, but the one we chose wanted to do the inspection before closing. So after we picked the company, we had to wait a week to receive the insurance binders. After we passed the binders along to our lender, they needed another week to finalize the loan before closing.