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Homebuyers Insurance Handbook

Homebuyers Insurance Handbook

The Insurance Information Institute (Triple-I) and the National Association of REALTORS® (NAR) have jointly launched the Homebuyers Insurance Handbook to educate potential homebuyers about their property insurance requirements. Given the growing risks associated with climate changes and economic challenges, the handbook aims to equip homebuyers with the necessary tools to make informed decisions about their property investment.

The handbook provides consumers with valuable insights during the crucial process of purchasing a home and explains the importance of having the right type and amount of insurance coverage to protect their largest investment.

The handbook offers practical guidance for prospective homebuyers, particularly for those who are first-time buyers. It emphasizes the need to accurately assess coverage requirements based on factors like rebuilding costs in the event of a loss and stresses the significance of understanding what is covered and excluded in standard homeowners insurance policies.

The document outlines six key strategies for obtaining the appropriate amount of homeowners insurance, including adjusting deductibles, exploring discounts and bundle options, making the home more resilient to disasters, reviewing coverage annually, and considering an insurer's overall value beyond just the premium cost.

Overall, the handbook is designed to empower homebuyers with essential knowledge to engage in meaningful conversations with insurance professionals and make well-informed choices regarding their property insurance needs.

View the Homebuyers Insurance Handbook.

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