Does my home type matter when I buy home insurance?

When you purchase a home you probably know you need to also purchase home insurance for it, but which kind? Yes, more than one type of home insurance exists.

You’ll find eight types of home insurance on the market. You’d purchase a different type of policy to cover a condo than a newly built home or an RV. With respect to the latter, you’ll find two options – one if you use your RV for traveling, the other if you live in it full-time.

You must choose the right type of policy to cover your home, otherwise, if you need to make a claim, your policy won’t be valid. That’s when you need to call Leo Insurance Group serving Las Vegas, NV. We can help you determine which type of homeowner’s or renter’s policy you need and help you obtain it.

If you have bought a house, you’d either need a standard homeowners’ policy, a dwelling policy, or a homeowners’ policy that covers major perils or all perils. If you buy a historical home or architecturally significant home, you’d choose historical home coverage. You’d choose condo insurance if you purchase a condo or an apartment, but RV insurance if you purchase a fifth-wheel or RV.

Home insurance also provides an option for those who rent, called renter’s insurance. It covers just your belongings and your liability.
You might want to save as much money as possible, but home insurance is not the place to cut corners. Six major perils create the difference between major peril and all-peril coverage. Any one of them can wipe out your home.

Contact Leo Insurance Group serving Las Vegas, NV today to learn more about home insurance. Let us help you choose the ideal policy for your home.

Home insurance tips for new homeowners in Las Vegas, NV

Buying a home for the first time can be one of the most memorable moments in your life. It is usually connected to other major life decisions such as having children, getting married, or moving from a parent’s home. Apart from the lengthy paperwork, there are plenty of negotiations, inspections, and financial preparations to be done. That’s why Leo Insurance Group encourages the discussion of buying home insurance to protect your investment.  Here are a few tips to get you started and help you learn more about buying home insurance.

Do Your Homework

If you are a first time home buyer, the chances are that you are also a first time home insurance buyer. Before making any purchases, you may want to go the extra mile and conduct enough research. Familiarize yourself with your Las Vegas, NV neighborhood and know some of the most common home insurance claims in the area.

Know Your Home’s Value

Even though you might have bought the house at a lower or higher price than the market value, it is critical to know the real value of your home. You can check with an assessor or local builder who can give you an accurate home value. The last thing you want is to insure a house for more than it’s worth. Keep an updated inventory of your personal belongings to be recorded during the insurance purchase. This makes it easier to prove ownership to your insurance company when filing a claim.

Understand Your Policy

Accidents can happen anytime, and nature is sometimes unpredictable. That’s why most mother nature perils are not covered in a home insurance policy. Check what is covered in your approach and make sure it matches with your insurance needs and risks.

Don’t ignore your insurance purchase to the last minute; there is a lot more to home insurance than just signing several papers. Contact Leo Insurance Group for more tips on buying home insurance for the first time.