By Ana Regina Myrrha, guest columnist and insurance specialist

Home insurance for new properties is crucial to protect the investment made in the property and to ensure the homeowner’s peace of mind. Newly built or recently acquired homes can be exposed to various risks, regardless of the fact that the property is new. Insurance offers protection for weather-related and accidental events. Below are some key points to consider:

1. Protection Against Physical Damage

Even newly built homes, no matter how well constructed, are not immune to events like fires, hurricanes, tornadoes, and other natural disasters. Home insurance covers these damages, ensuring that the homeowner doesn’t have to bear the cost of repairs or reconstruction alone.

2. Coverage Against Theft and Vandalism

New homes, especially in newly developed areas, can be targets for theft or vandalism. Home insurance protects against the loss of valuables in cases of break-ins and robberies, and it also covers damages caused by vandalism.

3. Liability Coverage

Home insurance offers liability coverage, meaning that if someone is injured on the property or if neighboring properties are damaged due to activities on the premises, the homeowner is protected against possible legal and compensation costs.

4. Investment Protection and Value Preservation

A new home is a significant investment, and home insurance helps preserve its value. In the event of major damages, such as natural disasters or accidents, insurance ensures that the homeowner does not suffer substantial financial losses and that the property can be restored to its original state. Knowing that your new home is protected against a wide range of risks provides peace of mind.

5. Coverage for Electrical and Plumbing Damage

New homes can present issues or defects in electrical and plumbing installations. Home insurance can cover these damages, including short circuits and leaks, protecting the homeowner from unexpected expenses.

6. Lender Requirements

If the new property was purchased through financing, many financial institutions require the homeowner to take out home insurance as a condition for loan approval. This reinforces the importance of having this protection.

7. Flood Insurance

One of the greatest risks homeowners face during hurricane season is flooding. In many cases, the biggest damage caused by hurricanes is due to flooding. Every home in Florida is subject to this risk, with some located in higher or lower flood-prone areas. However, no one is entirely immune. “Flood” insurance is not included in standard home insurance, and it is a separate policy. Be sure to consider this essential coverage.

8. Umbrella Insurance

Home insurance typically includes liability coverage. In the case of rental properties, whether long-term or short-term, it is recommended to increase liability coverage. Umbrella insurance offers an extra layer of protection for your assets, with excellent cost-benefit.

Taking out home insurance for a new property is a smart move to protect one of the biggest investments a person can make. It offers coverage against various types of damage, from natural disasters to everyday incidents, and ensures liability protection and the preservation of the property’s value over time.

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Learn more about American Insurance Point!
If you’d like to know more about insurance options to protect your property, visit American Insurance Point and speak with Ana’s team to find the ideal coverage for your home.Thinking of investing or building in Central Florida?
Contact BBG Developments to learn more about our projects and how we can help you achieve your dream of building or purchasing the perfect property. We are ready to assist at every step, ensuring the security and value of your investment.

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