Although there is no law requiring homeowners to carry insurance, purchasing a house is likely to be the largest investment anyone makes so having coverage is a no-brainer. While it is true that homeowners insurance is not required by law, if you are purchasing a home with a mortgage then it is highly likely that the mortgage company will require you to have insurance before financing the purchase.

When shopping for homeowners insurance, you’ll want a policy that covers rebuilding or repairing your house and other structures on your property like a shed or garage, after a covered loss. In addition, look for a policy that helps pay to replace your belongings if they are damaged in a covered loss, lodging if you are displaced due to a fire, natural disaster, or other incident and legal bills if a visitor or tradesperson is injured while at your home. Generally, a homeowners policy does not cover earthquakes or floods and you may be required to purchase additional insurance policies if you are in an area prone to one of those natural disasters.

Begin looking for homeowners insurance once you have signed the contract to purchase a home. Waiting till this point will likely allow you about a month to find the right insurance company and have a policy in place. At San Marcos Insurance Group in Chandler, AZ we specialize in homeowners insurance and can assist in customizing a policy that meets your needs.

Whether you are buying your first home or moving to Chandler, AZ for retirement, San Marcos Insurance Group wants to help. Give us a call today or stop by our conveniently located office to schedule an initial conversation with one of our talented insurance professionals.