New Colorado Home Buyers: Things You Should to Know About Homeowners Insurance

So, you’re just getting ready to settle into your new Lakewood, Colorado home. The next step is to start looking at insurance coverage options to protect your investment. Your previous home insurance plan might not be the best fit for this new residence, so be sure to keep the following in mind when choosing the right coverage policy for your needs.

1. The Requirements of Your Loan Provider

Although Colorado law doesn’t technically require homeowners to purchase home insurance, mortgage companies likely will require you to purchase some sort of insurance to protect their investment. Talk to your loan provider before looking through coverage plans to make sure you meet at least the minimum of their requirements.

2. The Weather

Lakewood, Colorado frequently experiences snow storms, but this area isn’t really at risk for hurricanes and tropical storms. Make sure to carefully read the property damage policy of your insurance provider to be sure it covers damage caused by natural disasters that are relevant to your new location. Remember that many homeowner policies will not insure you in the event of a flood, so talk to your insurance provider about flood insurance if this is a concern.

3. Coverage for Others

Do you plan on frequently entertaining guests in your home or inviting clients over to conduct business? If so, you might want to look into liability coverage as well. Liability insurance would protect you from a lawsuit or any kind of financial responsibility in the event that someone is injured on your property.

Our independent insurance agents are dedicated to finding a plan for Lakewood residents that fits their needs and exceeds their expectations. To talk to one of our trusted and knowledgeable representatives, contact us today.