Mercury Insurance offers these tips for First-Time Home Buyers:

What does Homeowners Insurance cover?

• Dwelling coverage covers the physical structure of the home, including the foundation, walls, roof, etc.
• Personal property coverage protects belongings like furniture, electronics, etc.
• Liability coverage protects you if someone is injured on your property. 

How much Homeowners Insurance do I need? 

• Dwelling coverage should match the cost to rebuild your home.  It is not the current market value.
• Think about high-value items, like jewelry or art, and purchase additional coverage for those items.
• Avoid being underinsured by reviewing your policy with an Insurance Agent each year.

What factors affect premiums?

• Location and local risks
• Age and condition of the home
• Credit score and claims history
• Coverage choices

How can you lower your homeowners insurance costs?

• Bundle your policies.
• Add safety features like smoke detectors, security alarms, etc.
• Choose a higher deductible.
• Maintain a good credit score.