Hi. Thank you for explaining the parts of the insurance policy, it was very helpful. I am a first time home buyer buying a new construction home North Texas and will close on it the end of June. Is there any additional coverage you would recommend for new construction homes? Should I pay extra close attention to any specific area of the policy when buying a new construction home? Thanks.
Congrats to you🎊🎉! Here are a few things to focus on: 1) amount of insurance on the home, make sure it is enough to rebuild, don’t focus on just enough to fulfill your mortgage. The reconstruction cost could be more. 2) make sure to buy enough liability. I suggest $500,000. It costs just a little more but is very important for protecting you from law suits. 3) seepage and leakage coverage. This is for mysterious and slow water leaks. With a new home, someone may have a mistake with plumbing that has not been discovered yet. 4) guaranteed replacement cost. This protects in event of a large storm and building costs rise. We provide home insurance in Texas. If we can help, we are happy to.
