Factors to Consider When Purchasing Massachusetts Homeowners Insurance

Congratulations!  You have just bought into the American dream and made the biggest purchase of your life, you bought a new house in the suburbs of Boston, MA.  Home insurance should be the next thing on your mind to make sure you protect yourself and your investment.   Purchasing homeowners insurance in Boston can be daunting especially for the new homeowner so it’s important to know about the basic facets of a home insurance policy.

• The Structure of your home – often referred to as dwelling.  This piece covers the actual physicality of the house or replacement cost.  The replacement cost refers to how much it would cost to rebuild the structure in today’s dollars.
• Liability  - This aspect of your homeowner’s policy covers you in the event of that someone has an accident on your property.   It’s important to have this piece in case someone accuses you of wrongdoing and plans on legal action.
• Personal Possessions – You will want to take the time to catalog everything that you have in terms of belongings;  art, clothing, furniture, tools, etc.  If you own something of high value, you will have the option to add specific riders to your policy.
• Living Expenses – In the event that something happens that forces you out of your home, this portion covers the living expenses associated with being away from your home.

These are the basic necessities for a homeowner’s policy but there are certain policies that you can add on;  flood, earthquake, umbrella, animal liability.   Your needs are unique which is why it is important to talk to a trusted insurance agent.  They can help customize policies that fit your individual needs.