The Facts About Home Insurance

Buying your first home is exciting, but there are many little things you need to take care of as a first-time homeowner. If you're purchasing an Alabama home and need home insurance, The Tusk Agency LLC can help.

Do I Need Home Insurance?

No law says you're required to carry home insurance, but that doesn't mean you don't have to have it. Most people secure a mortgage loan to purchase their home, which means the bank technically owns your home until you've paid off a certain amount of your loan. Typically, these banks will require that you carry home insurance until you've paid off a certain percentage of your home. You can learn more about your bank's home insurance requirements by talking to a mortgage expert at your bank.

Even if your bank doesn't require you to carry home insurance, it can provide crucial coverage that can keep you from paying for expensive home repairs out of pocket. Every Alabama homeowner should have home insurance.

Finding the Right Policy

When it comes to home insurance, not all policies are equal. Ensure you're getting all the coverage you need for your home, including coverage for separate dwellings such as your shop or garage. It would be best to keep in mind that earthquakes and floods aren't covered through your home insurance, so you'll need to purchase that coverage separately. If you live in a designated flood zone, your bank may require that you carry flood insurance in addition to home insurance.

Get a Quote Today

Home insurance is a great way to protect one of the most valuable assets in your life, and The Tusk Agency LLC can help. If you need an Alabama home insurance policy, contact an agent or try our online rating tool for a free quote.