Buying a new home is an exciting milestone but comes with various responsibilities, including securing homeowners insurance. Knowing when to purchase homeowners insurance during the home-buying process is essential to protect your investment. Let’s explore the optimal timing for buying homeowners insurance and what it covers and doesn’t cover.

How Soon Before Closing Should I Get Homeowners Insurance?

It’s crucial to start shopping for homeowners insurance as soon as your offer is accepted and you’re in contract to purchase a home. This allows you ample time to select a policy that meets your needs. Ideally, it would be best if you aimed to have homeowners insurance in place before your closing date to ensure your new home is protected from day one.

What Does Homeowners Insurance Cover?

Homeowners insurance provides financial protection against damage to your home and personal belongings, as well as liability coverage for accidents that occur on your property. A standard homeowners insurance policy typically covers:

  • Dwelling coverage: Repairs or rebuilding costs for damage to your home’s structure caused by covered perils such as fire, theft, vandalism, or natural disasters.
  • Personal property coverage: Replacement or repair costs for personal belongings damaged or stolen due to covered perils, both inside and outside your home.
  • Liability protection: Legal expenses and damages if someone is injured, their property is damaged on your property, or if you accidentally cause harm to others.

What Does Homeowners Insurance Not Cover?

While homeowners insurance provides comprehensive coverage for many perils, it does not cover everything. Common exclusions from homeowners insurance policies include:

  • Flood damage: Coverage for flood damage requires a separate flood insurance policy, as standard homeowners insurance typically excludes flood-related losses.
  • Earthquake damage: Similarly, earthquake damage is typically not covered by standard homeowners insurance and requires a separate earthquake insurance policy.
  • Wear and tear: Homeowners insurance does not cover damage caused by normal wear and tear or lack of maintenance.
  • Certain high-value items: Expensive items such as jewelry, fine art, and collectibles may require additional coverage through endorsements or scheduled personal property coverage.

Protect Your New Home with Our Homeowners Insurance Policy

Protect your new home with the right homeowners insurance policy from Scautub AgencyContact us today to learn more about our comprehensive homeowners insurance options and get a personalized quote tailored to your needs. Our experienced agents are here to guide you through the process and ensure your new home is adequately protected. Call us at 518-346-3427 for further assistance.


  1. When should I start shopping for homeowners insurance?

    It’s best to start shopping for homeowners insurance as soon as your offer is accepted and you’re in contract to purchase a home. Aim to have coverage in place before your closing date.
  1. What factors determine the cost of homeowners insurance?

    The cost of homeowners insurance depends on various factors, including the value of your home, its location, the level of coverage you choose, your claims history, and more.

  1. Do I need additional coverage for high-value items?

    Suppose you own high-value items such as jewelry, fine art, or collectibles. In that case, you may need additional coverage through endorsements or scheduled personal property coverage to protect them adequately.

  1. Does homeowners insurance cover all types of damage?

    While homeowners insurance provides coverage for many perils, it typically excludes flood and earthquake damage. You may need separate policies for these risks.

  1. Can I adjust my homeowners insurance coverage over time?

    You can adjust your homeowners insurance coverage as needed to reflect changes in your home’s value, your belongings, or your risk tolerance. It’s important to review your policy regularly and make updates as necessary


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