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Top Insurance Tips for First-Time Homebuyers in North Carolina

Buying your first home is exciting, but it also means making smart choices about insurance. At Paramount Insurance Agency, we’re here to help North Carolina’s first-time buyers protect their investment. Here’s what you need to know:

1. Know What Home Insurance Covers

Home insurance typically protects your house, personal belongings, liability, and living expenses if your home becomes uninhabitable. In North Carolina, however, flood and earthquake damages aren’t covered by standard policies. If your new home is in a high-risk area, consider adding extra coverage.

2. Compare Quotes to Save Money

Insurance rates differ between providers, so shopping around is essential. Paramount Insurance Agency works with top insurers to find the best coverage at competitive prices.

3. Bundle Policies for Discounts

Bundling home insurance with other policies, like auto or umbrella insurance, can save you money and simplify policy management. Ask us how bundling can maximize your savings.

4. Assess Your Coverage Needs

Take inventory of your belongings to determine adequate coverage. Also, ensure your policy covers the cost of rebuilding your home, not just its market value.

5. Choose the Right Deductible

A higher deductible can lower your premium, but make sure it’s an amount you can afford. Our agents can help you find a balance that fits your budget and risk tolerance.

6. Liability Protection is Essential

Liability coverage safeguards you if someone is injured on your property. Ensure you have enough protection, especially if you entertain guests or own pets.

7. Replacement Cost vs. Actual Cash Value

There are two ways to value your belongings:

  • Replacement Cost: Covers the cost of new items of similar kind and quality.
  • Actual Cash Value: Pays the depreciated value.
    Replacement cost provides better protection but at a higher premium. We can help you choose the best option.

8. Review Your Policy Annually

Life changes, and so do insurance needs. If you renovate or acquire valuable items, update your policy. Paramount Insurance Agency offers regular policy reviews to keep you protected.

Protect Your First Home with Paramount Insurance Agency

We understand the challenges first-time buyers face. Our team helps you navigate insurance options to get the best coverage at an affordable price.

Get a Free Quote

Ready to protect your first home? Contact Paramount Insurance Agency today at 336-869-3335 for a personalized home insurance quote and expert guidance.

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