Purchasing Home Insurance is the final step of your home purchase.  It will protect you from paying extra money to repair or rebuild your home in case of an unexpected event.  The Prescott, AZ, real estate market advises homeowners to purchase insurance in case of natural disasters or unexpected damage to belongings.

A good price for home insurance is one that’s affordable and covers everything you need.  Paying a low cost for little to no coverage isn’t saving you money.  Paying for additional features you don’t need or want is wasting money.  Along with the purchase price for the home, other cost factors include home age, neighborhood, condition of plumbing, heating and electrical, security system installations and distance from the home to important places (i.e., fire department).  Here’s a general synopsis of what is covered:


  • Protection from wind, theft, fire, etc
  • Liability insurance
  • Living expenses during home repair/rebuild
  • Medical payment
  • Personal items / belongings protection


Homeowners need to shop around to find the best value for their insurance.  Coverage details, cost, deductibles, compensation, ease of filing a claim and policy terms should be examined thoroughly with each quote given.  Compare several insurance companies through their websites and social media, and by asking questions over the phone.  Some insurance companies offer discounts for joining home and car/life insurance. Choose three to five companies and get a quote from each through the website or over the phone.  Compare prices based on coverage, not cost alone.  Be prepared – sometimes your home or belongings will need an inspection prior to a quote. Ask more questions before choosing one and drawing up a policy.  Sign the policy on your terms – never succumb to pressure.


An insurance policy requires maintenance – the process isn’t over just because you’ve signed a policy!  Revisit your policy yearly to evaluate if you’ve acquired too much coverage or if you can save money by unloading coverage you don’t need.  You have an option of changing the policy each year.


You worked hard to find the perfect home.  You need home insurance to keep the four walls, the roof and floor safe.  An agent or realtor is here to assist you with questions and concerns.  For more information on home insurance, contact us.