Insurance tips for home buyers


If you’re in the market for a new home, here are some tips to help you make an educated decision. Keeping a few simple things in mind while shopping may save you money on future maintenance and on your home insurance premiums.

What to keep in mind when purchasing a new home

  • Location: A history of theft, vandalism or flood in the area may affect the cost of your home insurance. A quick online search, chatting with neighbours in the area or talking to your real estate agent may help you identify these possible issues.
  • Nearest fire hydrant or station: In case of fire, this determines how quickly help could arrive. You should also find out if the local fire station operates 24 hours a day.
  • The home’s replacement cost: The size and construction of the home determines how much it would cost to replace it and its contents.
  • Types of utilities: Variations in heating, electricity and plumbing, including their types, ages and current conditions may have an impact on your premiums.

Always hire a reputable and experienced home inspector to identify all of the potential risks your new home may present. Doing your homework before you buy could save you money for years to come.

Grace Leong
Sales Representative
CENTURY 21 Miller Real Estate Ltd.
Brokerage Independently Owned and Operated
467 Speers Road, Oakville
ON, L6K 3S4Cell: 416.319.9160 | Business: 905.845.9180|Fax:905.845.7674E-Mail:

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