Step 21 - Set up Homeowner’s Insurance

Homeowner’s Insurance

One of the tasks the mortgage underwriter will require you to do at some point during the underwriting process is to set up Homeowner’s Insurance, so it’s better to get a head start on this task now. Your home is likely the biggest purchase you will ever make, and you want to ensure it's properly insured.

Our top advice is to shop around for homeowner’s insurance because rates can vary dramatically. We recommend starting with whatever company insures your car and getting a quote from them first, as you’ll likely get a discount for already having car insurance through them. After that, reach out to at least two recommended insurance providers for quotes. Email us for our recommended providers.

It’s a smart idea to have your homeowner’s insurance policy go into effect the day BEFORE you close on your new home.  That way if (heavens forbid) your new place burns down while you’re at closing, you’ll be covered. Also, make sure to obtain the necessary documentation from your new homeowner’s insurance company to provide to your underwriter; they will need proof of insurance before approving your loan.