Category: Bourne Flood

Is home insurance required to buy a home?

9/4/2024

Is home insurance required to buy a home?

You're often required to show proof of homeowners insurance to your lender before they'll relinquish the keys to your property and fund your home loan. Until your home is paid in full, your lender holds a lien on your property, so it's in their best interest to make sure that the property is insured while you're paying down your mortgage.

If you're purchasing your new home with cash or an unsecured line of credit (credit card or personal loan), you may not be required to show proof of home insurance before closing. Home insurance isn't mandated in any state, but you should still consider buying homeowners insurance to protect the equity in your home. Learn more about what home insurance covers and how homeowners insurance works.

How to shop for home insurance

During the mortgage approval process, your loan specialist will let you know when to buy homeowners insurance. However, you can start shopping for a policy as soon as you've solidified your new address. Shopping for homeowners insurance early gives you more time to select the right policy and look into ways you can save.

While your lender may provide a referral, it's a good practice to compare homeowners insurance quotes and pricing, homeowners insurance coverages, and consumer reviews before making a final choice.
You can often save money by bundling homeowners and auto insurance with the same insurer. Learn more about switching your homeowners insurance.

What to look for in a home insurance policy

Check the limits on your personal property and liability coverage
Your belongings, such as clothing, furniture, electronics, and jewelry, are insured under Coverage C (personal property coverage) on your home insurance policy. Make sure the limit is enough to cover everything you own. Keep in mind that certain items may fall under a specific category with a "sublimit" set by your insurance company. And if you have any expensive items, such as art or collectibles or jewelry and engagement rings, you may need to add an insurance rider to fully cover them.
Coverage E (personal liability coverage) protects you if you're liable for an incident that injures someone. Be sure to select a liability limit that properly covers what you have in assets. Most home insurance policies max out at a $500,000 liability limit. If you need additional coverage, you can purchase umbrella insurance, which provides extra liability coverage for home insurance policies.
Be aware of exclusionsDepending on where you are shopping for home insurance, there will be a list of things that won't be covered on a standard policy. These could include earthquakes, landslides, mudflows, and flooding. If you're at risk for a peril that isn't covered on your policy, ask your home insurance agent or company if there's an option to purchase protection for excluded incidents.
Understand your deductibles
When buying home insurance for the first time, it's important to pay attention to your homeowners insurance deductible for property damage. Your deductible is the portion of the claim you're responsible for, so make sure the deductible amount is within your budget.
Unlike car insurance, your home insurance deductible won't always be a set dollar amount. It could be a percentage of your policy's dwelling coverage. Your policy may even include a split deductible. That means you have a set dollar amount for most claims, but a percentage may apply for wind damage or other covered perils.

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Why You Should Do an Annual Check-In

6/7/2023

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When was the last time you gave your home and auto insurance policies an annual checkup?

A lot can happen in a year, and reviewing your current coverage is worthwhile to see if anything needs to be updated or changed.

Keep reading to learn why you should check in on your policies.

Major Home Renovation

If you added on to your home, upgraded the kitchen and bathrooms, or made any other big changes to the property, make sure you have enough dwelling coverage to rebuild your newly remodeled home.
Even if you’ve only done minor renovations, rising construction labor and materials prices could mean that your coverage wouldn’t be enough to rebuild your home in its current condition. In that case, you’ll want to increase your coverage to avoid having to foot some of the bills yourself.

Addition of Valuable Objects

Have you purchased or inherited valuable artwork, antiques or jewelry in the past year? It’s time to update your home inventory and see if you have the proper policies to replace the value of the items inside your home. And if you added a home security system to protect your valuables, you may be eligible for a discount.

Change in Marital Status

Did you get married recently? You could be eligible for a discount if you bundle home and auto insurance policies with your new spouse.
If you got divorced or your spouse has passed, you can no longer be on a joint car or home insurance policy with that person. Reach out to get a quote for your own policy.

Payments on an Auto Loan

Review your auto insurance coverage to see if it still meets your needs. For example, if you’ve paid enough of your auto loan down, you may no longer need gap insurance. If you’ve changed jobs and are doing less driving, you may be able to get a discount.

Do you have questions about your coverage? Reach out so we can discuss your

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A Homeowner's Guide to Safe Digging

5/4/2023

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Are you planning a backyard project?

With spring here and summer on the horizon, many homeowners are ready to spruce up their backyards or take on a big project.

If you’re ready to plant new trees, build a deck or patio, add a pond, or do anything else that requires digging, make sure you know where underground utilities are before you break ground.Send me a Home Insurance Quote
Keep reading to learn who to call before you dig, how to identify different utility markings and how to keep yourself safe during an excavation project.
Call 811.

This is the national call-before-you-dig number. You or your contractor should call 811 to request the marking of buried utilities so you don’t accidentally damage an underground utility line. You can also contact 811 online through your state’s website.

Understand the different colors.

Once the buried utilities in your yard are marked, you may see different color markings. Here’s what they mean:

Red: Electric lines or cables
Yellow: Gas, oil, steam or petroleum
Orange: Communication or alarm lines
Blue: Potable water
Purple: Reclaimed water or irrigation
Green: Sewers and drain

Stretch your body before digging.

If you’re doing your own backyard digging project, make sure to stretch and warm up before you get started. Otherwise, you risk injuring yourself.
Use the right equipment.

Are the hand tools in your shed or garage enough, or do you need to rent equipment for your project? Do your research before you begin so you have the proper tools.
Contractors should be insured and bonded.

If you’re hiring a contractor for your digging or excavation project, check that they have insurance and are bonded. This protects you if they don’t finish the project or cause damage to your property.

If you accidentally hit a utility line while digging, call 911. And if you have questions about your home insurance, reach out for answers.

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Cape Cod Insurance Agent Cares About Home & Flood Insurance Service

11/14/2014

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Cape Cod Homeowners - Search Your Zip Code for Up to Date Flood Maps

5/14/2014

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Cape Cod Flood Map Update Schedule

Flood Map Update Schedule Reflecting data as of 02/06/2014

Enter your Zip Code to see all of the communities in your county that have maps scheduled to be updated. Even if your community is not listed, changes may still be in progress.

To view preliminary maps issued since May 1, 2013, visit FEMA's Preliminary Flood Map Search Tool.

Yes! I want a FREE Flood Insurance Estimate.

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The Homeowner Flood Insurance Affordability Act and Cape Cod Flood Zones

5/13/2014

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The Homeowner Flood Insurance Affordability Act was signed into law by the President March 21. It amends some provisions of the Biggert-Waters Flood Insurance Reform Act of 2012. Find details here as they are made available.

Don’t wait until water is at your door

Consider purchasing flood insurance sooner rather than later. Keep in mind that there’s often a 30-day wait after purchase for the policy to take effect. So call or write us today about flood insurance. It’s rainy day protection that could help save your most valuable investment: your home or business.

Click HERE for a HOME & FLOOD Estimate

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Are you 1/2 mile from a water source? You may NEED Flood Insurance

5/7/2014

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Flood Insurance is a separate insurance policy and there is also an Excess Flood Insurance Policy available if your house needs MORE than the FEMA $250,000 coverage amount for your home.

Most Home & Flood Insurance Options Available for Cape Cod Residents living in Coastal Properties!

The Cape Cod Commission has interactive comparison flood maps showing old flood maps against the new proposed maps. Towns also have online interactive maps and more information:· Barnstable· Bourne· Brewster·
Chatham· Dennis· Eastham· Falmouth· Harwich·
Mashpee· Orleans· Provincetown· Truro· Wellfleet
· Yarmouth·

Click HERE for a FLOOD quote

Cape Cod Flood Maps - You may NEED Flood Insurance to protect your property during this upcoming hurricane season!

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Testimonials & Endorsements for the Best Insurance Agent on Cape Cod, MA

PHONE: (800) 479-2601 CUSTOMER SUPPORT & SERVICE

Please note: The above is meant as general information to help you understand the different aspects of insurance. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provisions, limitations, or exclusions expressly stated in any insurance policy. Descriptions of all coverages and other features on this page are necessarily brief; in order to fully understand the coverages and other features of a specific insurance policy, we encourage you to read the applicable policy and/or speak to an insurance representative. Coverages and other features vary between insurers, vary by state, and are not available in all states. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. References to average or typical premiums, amounts of losses, deductibles, costs of coverages/repair, etc., are illustrative and may not apply to your situation. We are not responsible for the content of any third-party sites linked from this page. Arthur D. Calfee Insurance Agency, Inc. respects your privacy. No mobile information will be shared with third parties or affiliates for marketing or promotional purposes. All categories above exclude text messaging originator opt-in data and consent; this information will not be shared with any third parties. We use SMS communications solely for direct customer service and account-related purposes. We do not use SMS for unsolicited marketing communications.

Is home insurance required to buy a home?

Why You Should Do an Annual Check-In

A Homeowner's Guide to Safe Digging

Cape Cod Insurance Agent Cares About Home & Flood Insurance Service

Cape Cod Homeowners - Search Your Zip Code for Up to Date Flood Maps

The Homeowner Flood Insurance Affordability Act and Cape Cod Flood Zones

Are you 1/2 mile from a water source? You may NEED Flood Insurance

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Testimonials & Endorsements for the Best Insurance Agent on Cape Cod, MA

CAPE COD MASSACHUSETTS HOME INSURANCE

Arthur D. Calfee Insurance Agency, Inc.

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PHONE: (800) 479-2601 CUSTOMER SUPPORT & SERVICE