If you are searching for homeowners insurance for the first time, and you aren't sure if you should put both you and your spouse on the policy, there are some things to know. You could benefit from having two people on the policy, but if only one name is on the mortgage, it may be best to only have one person on the homeowner's insurance policy. Here are some things to look into before you pick the best policy and provider for your home.
A person that has a bad credit score, damaging information on their credit report, and other financial problems may not get as good of a rate when it comes to getting homeowners insurance. If you know that your spouse doesn't have as good as credit as you do and that's why they didn't go on the mortgage, you want to keep them off the insurance policy as well so you can get the most competitive rate.
If you are a married person, this could help to get you a better rate. It may be because the insurance provider thinks that you are more responsible or that there may be more than one person that is caring for the home. Either way, if you are married but going on the policy on your own, be sure that the agent knows you have a spouse. Talk with the agent to see how to play the situation to get the best rate.
Current Needed Upgrades
The number of upgrades that are needed could affect your homeowner's insurance rates. If you only have one person on the mortgage, you may want to use the other person's credit to get new appliances and fix things that put your house at the risk of damages. Not only does this make your home safer, but it also improves the home value at the same time.
There are a lot of different things that can affect the homeowner's insurance rate that you get when you are purchasing a home. If you and your spouse think that maybe it isn't best that you both go on the policy, make sure that you do everything you can to work it in your favor to get the best rate. You will want to combine as many insurance policies as you can to bundle with the same company to get the most savings possible.
For more information on home insurance, contact an agency like Accurate Insurance Services.