Regarding Real Estate LLC
If you’re a first-time homebuyer working on a budget for your future plans, you might be wondering about homeowners insurance - how much will it cost, anyway? Unfortunately, the answer can get complicated, as it depends on several factors.
To help you budget for your first home, here is a quick guide to what goes in to determining the cost of your homeowners insurance:
Geographic location can have a major impact on your insurance coverage limits and premiums. This is because dwelling coverage limits are based on labor and replacement costs, which both vary significantly in different areas.
The hazard portion of your homeowners insurance policy can differ based on location, too. Hazard coverage protects you in case your home is damaged by fire, wind, falling objects and other events included on the list of “covered perils.”
Because natural disasters and weather-related hazards vary by region, so does the level of risk to the insurance company.
Some hazards, like tornadoes and earthquakes, require an additional insurance policy to cover. Additional insurance coverage will protect you from a wider variety of peril, but may cost more.
Homeowners insurance policies also include a personal property coverage component that includes your personal belongings separate from your home. Clothes, electronics, appliances and furniture are examples of property included in this coverage.
Consider the overall value of your personal property when deciding how much homeowners insurance coverage you need, as it will also affect how much you pay.
In the event your personal property is damaged or stolen, this part of your homeowners insurance can help you pay to repair or replace them.
Insurance can be complicated, and homeowners insurance policies are no exception. Until you get a quote from an insurance company, it may be difficult to budget for the expense. However, if you keep these variables in mind, you will have a greater understanding of what goes into your homeowners insurance policy cost.
Johnna grew up in Amherst NH and still has strong ties to the Amherst & Mont Vernon Communities. Johnna moved to Manchester at 19 when she purchased her 1st home. She has resided in the West Side of Manchester since 2007. Always having a strong interest in real estate, Johnna and her husband, Jeff, started investing in rental properties in 2017 with the purchase of a 2 bedroom condo in Manchester. They now own 10 properties with the goal of growing to 60 total rental properties. In 2020 Johnna and Jeff started adding short term rentals to their portfolio focusing in the NH Lakes Region and Southern Maine Coast. Johnna achieved Airbnb Super Host and VRBO Premier Host status within the first year.
From May to October Johnna divides her time between Manchester, NH and her beach cottage in Wells Maine. Johnna’s extensive experience with both long term and short-term rental properties makes her the ideal real estate agent to help you start or build your real estate investment portfolio. Johnna works with a lot of home owners selling their homes and buying homes simultaneously and also sellers relocating out of the area.
Johnna prides herself in being hard working, dependable and down to earth. In her free time, she enjoys reading, jigsaw puzzles and spending time outdoors with her husband, dogs and friends.
