Page 24 - AAA Hudson Valley – AAA Every Day – March/April 2019

MOVER’S HANDBOOK
New Homeowner Tips
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Things to consider when buying and insuring your new home.
Buying a house is considered one of the most significant decisions and also one of the biggest purchases we will make in our lifetime. It’s where we will
live, raise a family, be part of a community and eventually retire. Almost all people have a “must-have” list when looking at possible new homes, however not many have a checklist when it comes to insuring it.
If you’re a first-time homebuyer, many banks offer a “First-Time Buyer” mortgage program; however, you also might qualify for a “First-Time Buyer” discount on your homeowner’s insurance. Likewise, if you’re retired, many insurance companies offer a “Mature Homeowner” discount.
While many homes built in the last year or two might cost more to buy, most insurance companies offer a “New Home” discount that can last for the first several years. Having a newer home means that the roof, plumbing, electric and heating is up to date; insurance companies often ask when these elements have been updated. Older homes must have had these updates (usually within 20 years) to qualify for an insurance policy.
Security systems are a great feature to look for when researching your new home. Discounts are offered for having deadbolts, fire extinguishers, smoke and carbon monoxide detectors. More sizeable discounts are given if you have monitored burglar or fire alarm systems, especially if they are “live” and connected to a central station. You also have the comfort of knowing that your house is always being monitored.
To start the process of finding the best policy for you, try calling the insurance company that currently insures your vehicle. It’s worth checking out the multipolicy discounts that are available. Every person’s needs are different and every company offers a different insurance package. Make sure you ask the right questions to get the best coverage for your new home.
For more information on homeowner insurance, contact AAA Hudson Valley Insurance Agency at 518- 649-1717 or visit us online at AAA.com/insurance. Happy house hunting!
Eman Badr is a Certified Professional Insurance Agent and Manager of AAA Hudson Valley Insurance Agency.
24 I MARCH/APRIL 2019