If you’re a first-time homebuyer working on a budget for your future plans, you might be wondering about homeowners insurance - how much will it cost, anyway? Unfortunately, the answer can get complicated, as it depends on several factors.
To help you budget for your first home, here is a quick guide to what goes in to determining the cost of your homeowners insurance:
Geographic location can have a major impact on your insurance coverage limits and premiums. This is because dwelling coverage limits are based on labor and replacement costs, which both vary significantly in different areas.
The hazard portion of your homeowners insurance policy can differ based on location, too. Hazard coverage protects you in case your home is damaged by fire, wind, falling objects and other events included on the list of “covered perils.”
Because natural disasters and weather-related hazards vary by region, so does the level of risk to the insurance company.
Some hazards, like tornadoes and earthquakes, require an additional insurance policy to cover. Additional insurance coverage will protect you from a wider variety of peril, but may cost more.
Homeowners insurance policies also include a personal property coverage component that includes your personal belongings separate from your home. Clothes, electronics, appliances and furniture are examples of property included in this coverage.
Consider the overall value of your personal property when deciding how much homeowners insurance coverage you need, as it will also affect how much you pay.
In the event your personal property is damaged or stolen, this part of your homeowners insurance can help you pay to repair or replace them.
Insurance can be complicated, and homeowners insurance policies are no exception. Until you get a quote from an insurance company, it may be difficult to budget for the expense. However, if you keep these variables in mind, you will have a greater understanding of what goes into your homeowners insurance policy cost.
I have provided award-winning service to many clients over the past 25 years. Few other REALTORS are as trusted as I am. My clients trust my advice, and they know that I always look out for their best long-term interests. You can expect, and you will receive personal service that is second to none. When you hire me as your Agent you work with me and only me. I will answer your calls and respond to your text messages. I promise not to hand you off to another member of "My team" like others do. When you hire Ryan, you get Ryan.
I have called Southwest Michigan home for 40 years. My mother's family ran a local locksmith service, and my father served as the Chief Investigator for the County's Prosecutor's office for many years. I love all that this area offers, and I enjoy serving the buyers and sellers who are moving in or out of Southwest Michigan.
My wife and I have two children, and we would not want to raise them anywhere else. Between the award-winning schools and the plethora of youth activities offered in Southwest Michigan, it's a great place to call home. We enjoy spending time with friends at the beach, boating, golfing, hunting, skiing "Up North," and fishing.
We give back generously to the community that has been so good to us. Currently, I serve on the Lakeshore Public Schools Foundation Board (LEF), as Past President of the St. Joe Kickers Sports Club, and as a Rotarian in the Stevensville-Lakeshore Rotary Club. We donate throughout the year to various local organizations, schools, and youth sports groups.
I want to put my experience and knowledge to work for you. Having sold more than 500 properties while earning the trust and respect of my fellow REALTORS, who voted me the "REALTOR of the Year," I am confident I can earn your trust as well.
Looking to buy, sell, or invest in real estate? Please allow me the opportunity to serve you. I promise you will not be disappointed.
Ryan Arnt
Real Estate Broker/Company Owner
Keller Williams of Southwest Michigan
You can reach me anytime, call or text 269.470.6666, or email me at [email protected].
When you need a REALTOR, Rely on Ryan!