FOSTER CITY, Calif.,
April 28, 2021 /PRNewswire/
-- When engulfed in the thrill of purchasing a first home,
some buyers confess to confusion on an important element of the
transaction: home insurance. To help first-time buyers
understand their options, Insurance.com releases a robust guide to
buying home insurance for the first time. The resource describes
major home insurance components and explains how to make the right
coverage choices for each.
Insurance experts surveyed 997 homeowners in March 2021 to learn which home insurance coverage
level is most difficult to determine. The value of replacing
personal property topped the list, followed by determining the
appropriate dwelling coverage.
Survey findings show the following items as the most challenging
for home insurance buyers:
- Personal property -- value of your possessions: 21.5%
- Dwelling coverage -- cost to replace your home: 17.4%
- Deductible -- low or high: 8%
- Liability -- for injuries/damage to others:6.7%
- Loss of use -- pays for temporary housing: 3.9%
- (Not applicable: don't have home/renter's insurance:
42.5%)
In response to homeowner confusion, the resource explains in
detail how to:
- Calculate the value of personal property
- Estimate a home's replacement cost
- Choose a homeowners insurance deductible
The guide also includes average premium information for ten
levels of dwelling, deductible and liability levels and explains
what is and is not covered in a typical home insurance policy.
"Since lenders require that home insurance coverage be secured
before approving a mortgage, it's important to research your
options as soon as possible," explains Michelle Megna, editorial director for
Insurance.com. "In order to properly protect your most important
investment and its contents, it may be worthwhile buying more than
the most basic coverage."
Megna is available to discuss this home insurance guide and
answer questions about how to avoid first-time buyer mistakes.
About Insurance
Insurance is owned and operated by QuinStreet, Inc.
(Nasdaq: QNST), a leader in providing performance marketplace
technologies and services to the financial services and home
services industries. QuinStreet is a pioneer in delivering online
marketplace solutions to match searchers with brands in digital
media. The company is committed to providing consumers with the
information and tools they need to research, find and select the
products and brands that meet their needs. Insurance.com is a
member of the company's expert research and publishing
division.
Insurance is a trusted online resource dedicated to educating
consumers on auto, home, health and life insurance, developing
relationships directly with carriers to offer consumers comparison
rates from multiple companies. Since 2001, Insurance.com's
industry-first online tools, data-based reporting and experienced
experts have helped consumers make informed insurance-related
decisions, so they can choose the right insurance for their
individual needs.
Twitter: @InsuranceDotCom
Facebook: https://www.facebook.com/InsuranceDotCom
Media Contact
Jacqueline Leppla
Senior Director of Public Relations
Direct +1 775 321 3608
Email: jleppla@quinstreet.com
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SOURCE Insurance.com