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Buying a new home is a major investment that will need to be properly protected and insured. For those that are buying a home in California, the best type of protection that you could have is home insurance. When looking to get a new home insurance policy, there are several factors to consider.
While buying a home is a major investment, you are not legally obligated by law to carry home insurance. However, if you are taking out a mortgage to finance the purchase, the mortgage lender will undoubtedly require you to carry insurance. Furthermore, many condo and other home associations require that residents in the community carry an appropriate level of home insurance.
When you are acquiring property insurance, you also need to consider the level of protection. There are three types of protection available that include the actual cash value, the replacement cost, and the guaranteed or extended replacement cost. Of the three options, guaranteed or extended replacement cost as it will guarantee to cover the cost of rebuilding your home, even if the total costs exceeds the final policy amount.
When you are looking for a home insurance policy, you also need to consider the additional levels of coverage offered. Most consumers should look into a liability insurance policy as well. This will protect you in the event someone is injured in your home and you are found liable.
If you are buying a new home in California or are reconsidering your insurance needs, reaching out to Citywide United Insurance Services in El Centro, CA should be your first stop. Citywide United Insurance Services in El Centro, CA is a consumer-focused insurance company that can help you to better understand your insurance needs. Try our online rating tool for quotes on home and auto insurance and reach out to our agents to learn more about your home insurance options.