Buying A Home
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Homeowners insurance @ Closing
I'm almost ready to close on a house, the last thing we need is the paid Homeowners insurance binder. DH and I have been talking about changing insurance policies for years as I'm sure we can get a better rate elsewhere, but, everything will be combined (home, cars, ring, etc.) and if we're going to close in less than a month I don't want to be shopping around for a new agent to hold up the process. Should we just get it over with or change policies later?
Re: Homeowners insurance @ Closing
i would shop around. It doesn't really take all that long.
If you get some quotes that are less, instead of changing call your current insurance company and ask them if they can match the lower rates you are getting.You might get a lower rate without having to go through all the paperwork of changing policies.
I know this may be a little late. But I'm an insurance agent, I won't mention for what company. Make sure that your homeowners policy is an HO-5. This provides you with the broadest coverage possible meaning "all perils" covered except where excluded ie earthquake. While some companies may offer a lower premium, but the policy is very strict, called an HO-3. This means that the homeowners insurance will only cover the things listed, nothing else.
Good luck!