A Simple Guide to Home Insurance for First-time Buyers

After all the excitement of trying to find the perfect first home, you may be exhausted as you get ready to go to your closing. Home insurance may be the last thing you want to spend time thinking about. Finding the perfect home insurance is essential to making sure you won’t get any nasty surprises when you make a claim. Given that 1 in 5 homeowners makes a claim every year, you will likely make one at some point. In Indianapolis, IN, Irvington Insurance is a locally owned independent agency that gives our customers more choices. 

Don’t choose just by price.

While the price is an important consideration in any insurance purchase, it shouldn’t be the only one. You don’t want to overpay, but you also want to make sure the policy you choose has the coverage you need. 

Choose your deductible carefully.

Your policy’s deductible is what you pay out of pocket on each claim you file. Even if you have more than one in a year. With a higher deductible, you may pay less, but it may not be a good value. You need to be able to pay the deductible if you file a claim. 

What type of content coverage to choose

Content coverage comes in two types, replacement cost and actual cash value. When you file a claim, the payout is very different. With actual cash value, you will receive the amount worth today, taking depreciation into account. A 10-year-old sofa is not worth the same as a new one. With replacement cost, you will receive the amount a 10-year-old sofa would cost you to replace today. 


Your home policy doesn’t cover everything. Floods, earthquakes, sinkholes, and sewer back-up are common exclusions. 

Contact Irvington Insurance in Indianapolis, IN for all your home insurance needs.