Home Buying: When to Get Homeowners Insurance

Homeowners Insurance

Purchasing a home is a significant investment, and it’s essential to protect it with homeowners insurance. Homeowners insurance covers the cost of repairs or replacements if your home is damaged or destroyed by natural disasters, theft, or other covered perils. However, you may be wondering when to get homeowners insurance when buying a house. 

In this article, we’ll discuss the right time to purchase homeowners insurance and why it’s crucial to have it.

Why Do You Need Homeowners Insurance?

Homeowners insurance is not only a requirement for most mortgage lenders, but it also protects your investment and provides peace of mind. A standard homeowners insurance policy typically covers the following:

1. Dwelling Coverage

This covers the cost of repairing or rebuilding your home if it’s damaged or destroyed by covered perils such as fire, lightning, hail, windstorms, and more.

2. Personal Property Coverage

This covers the cost of replacing your personal belongings, such as furniture, clothing, and electronics, if they are damaged, destroyed, or stolen.

3. Liability Coverage

This provides protection if someone is injured on your property and sues you for damages.

4. Additional Living Expenses

This covers the cost of living elsewhere if your home is uninhabitable due to covered perils.

When to Get Homeowners Insurance?

When buying a house, you should get homeowners insurance as soon as possible. Most mortgage lenders require proof of insurance before closing on your loan. The lender wants to ensure that their investment is protected and that you can afford to repair or rebuild the home if it’s damaged. Therefore, you must purchase homeowners insurance before closing on the home.

It’s essential to start shopping for homeowners insurance as soon as you have a contract on the house. Shopping around for insurance quotes can help you find the best coverage at the most affordable price. 

Comparing prices and coverage from different insurance companies can help you save money on your policy. It’s also important to note that insurance rates can vary depending on the location, age, and home condition.

How to Get Homeowners Insurance?

When shopping for homeowners insurance, you should consider the following factors:

1. Coverage Limits

Make sure you have enough coverage to protect your home and personal belongings adequately.

2. Deductibles

Choose a deductible that you can afford to pay out of pocket in case of a claim.

3. Discounts

Ask about discounts for bundling your insurance policies, installing safety features, or having a good credit score.

4. Insurance Company Ratings

Research the financial strength and customer service ratings of the insurance companies you’re considering.

Once you’ve selected an insurance company and policy, provide your lender with proof of insurance. The lender will require a copy of the insurance policy and payment to be made for the first year’s premium. The insurance company will then send a declaration page to your lender, which shows proof of insurance and the coverage you have.

Conclusion

When buying a house, it’s crucial to get homeowners insurance as soon as possible. Homeowners insurance protects your investment and provides peace of mind. Most mortgage lenders require proof of insurance before closing on your loan, so it’s essential to shop for insurance as soon as you have a contract on the house. 

Shopping around for insurance quotes can help you find the best coverage at the most affordable price. When selecting an insurance company and policy, consider coverage limits, deductibles, discounts, and insurance company ratings. Providing proof of insurance to your lender is necessary before closing on your loan.

Are you looking for a reliable home insurance company in Fort Myers? Look no further than Bassine Insurance. We are a reputable insurance provider that has been serving the needs of homeowners in Fort Myers for many years. Our aim is to provide quality insurance products at affordable rates to help homeowners protect their homes and belongings. Get started now!

5 Best Practices For Maximizing Auto Insurance Policies

car accident

Auto insurance is a must-have for every car owner in the United States. It provides financial protection in case of an accident, theft, or damage caused to your vehicle. However, simply having auto insurance is not enough. People should follow some best practices that can help them maximize their coverage and save money. But how do people maximize auto insurance policies? Here are some ideas.

1. Still Drive Safely

Driving safely is one of the best ways to maximize your auto insurance policy. Safe driving reduces the risk of accidents and can help you avoid costly fines and penalties. By following traffic rules, maintaining a safe distance from other vehicles, and avoiding distractions while driving, you can reduce the likelihood of accidents and increase your chances of staying accident-free. It can help you maintain a good driving record, leading to lower insurance premiums.

2. Install Anti-Theft Systems

Installing anti-theft systems in your car can also help you maximize your auto insurance policy. Anti-theft systems, such as car alarms, GPS trackers, and engine immobilizers, can make your vehicle less attractive to thieves and increase its chances of recovery if it is stolen.

Many insurance companies offer discounts to car owners with anti-theft systems installed in their vehicles. As a result, car owners will not have to spend as much as others in the process. Investing in these systems can protect your car and save money on insurance premiums.

3. Opt For Higher Deductibles

A deductible is paid out of pocket before your insurance policy kicks in. Opting for higher deductibles can lower your insurance premiums and save money in the long run. Therefore, people can expect lower monthly dues as they already paid for a chunk of the policy.

However, it’s essential to ensure you can afford the deductible in case of an accident. Choosing a deductible that you can comfortably pay out of pocket without putting yourself in financial strain is best. Remember not to go overboard or suffer from the consequences later.

4. Remove Unnecessary Coverage

One way to save money on auto insurance is to remove unnecessary coverage. For example, if you own an older car with low market value, you may not need collision or comprehensive coverage. Eliminating these coverages can help you save money on insurance premiums.

It’s important to review your policy regularly and ensure you have the coverage you need. Removing unnecessary coverage allows you to maximize your auto insurance policy and save money simultaneously.

5. Combine Policies

Combining auto and home insurance policies can also help you maximize your coverage and save money. Many insurance companies offer discounts to customers who have multiple policies with them. Combining policies should also make it easier to pay for them in the future.

By combining policies, you can save money and simplify your insurance needs. It can help you avoid confusion and ensure you have the coverage you need when needed. Therefore, when using the policies, claiming them should become more accessible and faster.

Conclusion

Maximizing your auto insurance policy can help you save money and get the most out of your coverage. You can protect your vehicle and finances by following these best practices, such as driving safely, installing anti-theft systems, opting for higher deductibles, removing unnecessary coverage, and combining policies. It’s important to review your policy regularly and ensure you have the range you need. Contact your insurance provider to learn more about maximizing your auto insurance policy.

Protecting your assets and loved ones is essential, and at The Bassine Insurance Agency, we offer a wide range of insurance products to help you achieve that peace of mind. If you’re looking for reliable life insurance in Fort Myers or need a trusted auto insurance agency, we’re here to help. Contact us today to schedule a consultation and learn how The Bassine Insurance Agency can provide you with the necessary insurance protection.

The Basics of Collision Coverage and How It Helps Car Owners

car accident

Owning a car comes with many responsibilities, one of which is having insurance. Car insurance is a legal requirement and a financial safety net in case of accidents or damages. For this reason, you must have the right insurance coverage to protect yourself and your vehicle from unforeseen circumstances while on the road.

One of the most critical types of car insurance is collision coverage. It’s an optional coverage that pays for the damages to your vehicle in case of an accident but is highly recommended, especially if you own a new or expensive car. It works by reimbursing you for repairing or replacing your car if it is damaged in a collision, regardless of whether you are at fault or not, whether it’s with another vehicle or object, such as a tree or fence, or building. Few people know how it works, so we will discuss the details in this article.

The Benefits of Collision Coverage

When you get collision coverage, you can reap the following benefits:

Coverage of Various Accidents

Collision coverage protects you from a wide range of accidents that could happen on the road. It covers damages caused by collisions with other vehicles or objects or if your car flips over. It also covers damages caused by single-car accidents, such as hitting a pothole or a tree.

Pays for Repairs or Replacements

If you have collision coverage, you can rest easy knowing that your insurance company will pay for the repairs or replacement of your vehicle if it gets damaged in an accident. This can be especially helpful if you have a newer car that would be expensive to repair or replace. Without collision coverage, you would be responsible for paying for the repairs or replacement out of pocket, which can be a significant financial burden.

Flexibility in Repair Shop Selection

Part of owning auto insurance with collision coverage is going to a repair shop that your insurance company recommends. This can be a benefit, as these repair shops are often reputable and have a good track record of providing quality repairs. However, with collision coverage, you also have the flexibility to choose your own repair shop if you prefer. This can be helpful if you have a preferred mechanic or concerns about the quality of work from the recommended repair shop.

Increased Protection for Financed or Leased Cars

If you are financing or leasing your vehicle, the lender or leasing company often requires collision coverage to protect their investment in the car. Without collision coverage, you would still be responsible for paying for any damages to the vehicle, even if you don’t technically own it.

Cost Savings

While collision coverage may seem like an additional expense, it can save you money in the long run. Without collision coverage, you would have to pay for the repairs or replacement of your car out of pocket, which can be expensive, especially if you own a new or expensive vehicle.

What Does Collision Coverage Cover?

Collision coverage usually covers any of the following:

Collision Damage

As the name suggests, collision coverage covers damage to your vehicle resulting from a collision with another vehicle or object. This can include damage to your car’s body, frame, and mechanical components.

Damages Caused by Uninsured or Uninsured Drivers

Some collision coverage policies also include coverage for damages caused by uninsured or underinsured drivers. This means that if you are involved in an accident with someone who does not have insurance or does not have enough insurance to cover the damages, your collision coverage can help cover the costs.

Damage Caused by a Hit-And-Run Accident

Collision coverage may also provide coverage for damages caused by a hit-and-run accident. If you are involved in an accident where the other driver flees the scene and cannot be identified, your collision coverage can help cover the costs of repairing your vehicle.

Deductibles

Most collision coverage policies come with a deductible, which you must pay out of pocket before your insurance kicks in to cover the rest of the cost. The higher your deductible, the lower your monthly premium will be.

Where to Get Collision Coverage

Collision coverage is available through most car insurance companies. When choosing an insurance company, comparing rates and coverage options is essential to find the best policy for your needs. You can also consult an insurance agent to help you understand your coverage options and choose the best policy for your budget.

The cost will depend on several factors, including your driving record, the make and model of your vehicle, your age and location, and the coverage you choose. Comparing quotes from multiple insurance companies is recommended to ensure you are getting the best deal. Additionally, some insurance companies offer discounts for safe driving, multiple policies, or if you have certain safety features installed in your vehicle, so ask about these discounts when getting a quote.

Conclusion

Collision coverage is an essential type of car insurance that protects your vehicle in case of an accident. For this reason, you must shop around to find the best coverage options and rates that fit your needs and budget. This way, you can drive with peace of mind knowing that you are protected in case of an accident.

If you’re looking for an auto insurance agency in Fort Myers, Bassine Insurance has what you need! We offer comprehensive auto insurance coverage to protect you during undesirable situations for fair prices. Call us today at 239-995-0333 to request a quote!

The Importance of Home Insurance: Protecting Your Investment

home insurance

Homeownership is a significant investment, and protecting it is crucial. A home insurance policy is a contract between the homeowner and the insurer, providing financial protection against unexpected circumstances such as fire, theft, and natural disasters. Home insurance policy offers peace of mind by safeguarding the homeowner’s property and assets.

Protection against Natural Disasters

Natural disasters such as floods, hurricanes, and earthquakes can cause severe damage to a home. The home insurance policy covers the costs of repairing or rebuilding a home that has sustained damage from natural disasters. Without insurance, homeowners may be forced to bear the full cost of repairs, which can be financially crippling.

Protection against Theft

Home insurance policy provides coverage against theft or burglary. In the event of a break-in, the policy will cover the loss of personal property, such as electronics, jewelry, and other valuables. Homeowners can also opt for additional coverage to protect against specific types of theft, such as identity theft.

Liability Protection

Home insurance policy also provides liability protection to homeowners. Liability coverage protects homeowners against lawsuits arising from injuries or damages sustained by visitors to their property. For example, if a visitor slips and falls on the homeowner’s property, the liability coverage will pay for medical expenses and legal fees associated with the lawsuit.

Mortgage Requirement

Most mortgage lenders require homeowners to have a home insurance policy. The insurance policy ensures that the lender’s investment is protected in the event of damage or destruction to the property. If the homeowner does not have insurance, the lender may require the homeowner to purchase it, and the cost may be added to the monthly mortgage payment.

Protection for Personal Assets

Home insurance policy covers personal property within the homeowner’s property. Personal property includes items such as furniture, clothing, and electronics. Without insurance, these items would not be covered in the event of damage or destruction to the home.

Temporary Housing Coverage

In the event of significant damage to the home, homeowners may be forced to seek temporary housing. Home insurance policy provides coverage for temporary housing expenses. This coverage ensures that homeowners are not left without a place to stay while their home is being repaired or rebuilt.

Peace of Mind

Home insurance policy provides peace of mind to homeowners. Knowing that their investment is protected against unexpected circumstances such as natural disasters, theft, and liability claims can ease the stress of homeownership. Homeowners can focus on enjoying their homes and not worrying about the financial consequences of unexpected events.

Cost-Effective

Home insurance policy is cost-effective. The cost of insurance is a small price to pay for the peace of mind and financial protection it provides. Homeowners can choose the coverage that best fits their needs and budget. The cost of insurance varies depending on factors such as location, age of the home, and the coverage amount.

To Sum Up

Home insurance policy is essential for homeowners. It protects against natural disasters, theft, liability claims, and personal asset loss. Homeowners can also benefit from temporary housing coverage and the peace of mind that insurance provides. Most mortgage lenders require home insurance policy, and it is cost-effective. Homeowners should choose the coverage that best fits their needs and budget. Home insurance policy offers financial protection and peace of mind, making it an investment well worth the cost.

Bassine Insurance is a reputable home insurance agency in Fort Myers. We also offer a wide range of insurance products. Get started now. 

Here Are Some Boat Insurance Myths You Need to Know!

boat owner

Boating is one of the most popular recreational activities worldwide. Whether you are a seasoned sailor or a beginner, owning a boat can be an exhilarating experience. However, just like owning a car or a house, owning a boat comes with unique risks. That’s where boat insurance comes in. It protects you from financial losses due to damage, theft, or liability issues. Unfortunately, boat insurance is not well understood by many boat owners.

Here are the top boat insurance myths you need to know.

1. Boat Insurance Is Not Necessary

Many boaters believe that boat insurance is unnecessary, especially if they have a small boat or only use it occasionally. However, accidents can happen anytime and anywhere. Even the most experienced boaters can encounter unexpected situations resulting in significant financial losses. Boat insurance can protect your investment and give you peace of mind.

2. Homeowner’s Insurance Covers My Boat

Many homeowners assume that their homeowner’s insurance policy will cover their boat. However, most homeowner’s insurance policies have limited coverage for boats. They usually cover small boats with low horsepower and low value. If you have a bigger boat or a more expensive boat, you need a separate boat insurance policy to protect it adequately.

3. Boat Insurance Is Too Expensive

Many boaters believe boat insurance is too expensive and not worth the cost. However, boat insurance premiums are based on many factors, such as the type of boat, its value, the navigational area, and the coverage limits. You can find affordable boat insurance that fits your budget with proper research and comparison shopping.

4. Boat Insurance Only Covers Damage to My Boat

Boat insurance covers more than just damage to your boat. It also covers liability issues, such as injuries to others or damage to their property caused by your boat. It can also cover medical expenses, salvage costs, and towing expenses. Some policies even offer coverage for pollution liability and wreck removal.

5. Boat Insurance Only Covers Accidents on the Water

Boat insurance covers more than just accidents on the water. It also covers theft, vandalism, and damage while your boat is in storage or transported. Some policies even cover hurricanes, earthquakes, and other natural disasters.

6. Boat Insurance Is Not Necessary If You Only Use Your Boat for Personal Use

Many boaters believe that boat insurance is not necessary if they only use their boat for personal use. However, accidents can happen anytime, even during recreational use. If you invite friends or family members aboard your boat, you are responsible for their safety. Boat insurance can protect you from financial losses due to accidents or injuries.

7. You Don’t Need Boat Insurance If You’re a Safe Boater

Even the safest boaters can encounter unexpected situations resulting in significant financial losses. Boat insurance can protect you from these losses, regardless of your safety. Additionally, many marinas and waterways require boaters’ insurance before entering the water.

Conclusion

Boat insurance is an essential part of owning a boat. It can protect you from financial losses due to accidents, theft, or liability issues. Understanding the facts about boat insurance and dispelling any myths you may have heard is essential. By doing so, you can make an informed decision about the right coverage for your needs.

Protecting your investment with the right boat insurance policy is crucial as a boat owner. The Bassine Insurance Agency, a specialized boat insurance agency, offers various insurance products to fit your needs. Contact us today!