Guest post from John Fabry of John Fabry State Farm

Buying your first home is exciting. Understanding how to protect it doesn’t have to be complicated. Don’t do it alone. Use a trusted local partner to help you when you need it.

Homeowners insurance is about more than satisfying your mortgage company. The right policy can help protect your home, your belongings, your finances, and the life you’re building inside your new home. Coverage and protection matter!

Here are some of the most important things every new homeowner should consider.

1. Start With Your Mortgage Requirement — But Don’t Stop There

If you're financing your home, your mortgage company will generally require you to carry homeowners’ insurance.

In Pennsylvania, lenders may require you to insure the home for at least the amount of the mortgage. But that number should not automatically determine how much dwelling coverage you purchase.

Your mortgage balance and the cost to rebuild your home are two different things.

For example, you could purchase a home for $500,000 and borrow $400,000, but the estimated cost to completely rebuild the house could be $450,000, $550,000 or another amount entirely.

Your insurance professional can help estimate the cost of rebuilding your home using factors such as:

  • Square footage and number of stories
  • Type and quality of construction
  • Kitchens and bathrooms
  • Finished basements
  • Attached structures
  • Custom features
  • Current construction and labor costs

The goal is to have coverage that reflects the estimated replacement cost of the home, subject to the terms and limits of your policy.

2. Don't Forget What's Inside the House

Your house isn't the only thing you're protecting.

Think about everything you would have to replace after a major covered loss: furniture, televisions, computers, clothing, appliances, kitchenware, tools and countless other possessions.

Ask whether your personal property is covered on a replacement cost or actual cash value basis and understand the difference. Do you want to buy items at today’s prices or search on Facebook Marketplace for a 5 year old TV?

Also consider creating a simple home inventory. Walking through your new home with your phone and recording your belongings can give you a useful record of what you own.

3. Pay Attention to the "Smaller" Coverages

Some of the most important conversations aren't necessarily about the house itself.

Personal Liability

What happens if the Amazon driver slips and falls on your porch?
Have a dog, what happens if it bites a neighbor?
Own a pool?

Make sure you understand your liability limit and whether it's enough to protect your financial assets.

Medical Payments to Others

This can provide limited coverage for medical treatment when someone is accidentally injured on your property.

Loss of Use / Additional Living Expenses

If a covered loss makes your home uninhabitable, where would you live while repairs are being completed?

This coverage can help with eligible additional living expenses while your home is being repaired.

Other Structures

Have a detached garage, shed, fence or other structure? Make sure you understand how much coverage your policy provides for them.

Jewelry, Collectibles and Other Valuable Items

Standard policies may place special limits on certain categories of property. If you own valuable jewelry, artwork, collectibles or other high-value property, ask whether additional coverage should be considered.

4. Understand Water Coverage

"Water damage" doesn't always mean the same thing from an insurance standpoint.

A homeowners policy may cover certain sudden and accidental water losses, while other situations may be limited or excluded.

For example, flooding from rising or surface water is generally not covered by a standard homeowners policy and typically requires separate flood insurance.

5. Choose a Deductible You Can Actually Afford

A higher deductible may reduce your insurance premium, but it also means taking on more of the financial responsibility when you have a covered claim.

Don't choose a deductible based only on getting the lowest premium.

Ask yourself:

"If something happened to my house tomorrow, could I comfortably pay this deductible?"

Choose a deductible that makes sense for both your monthly budget and your emergency savings.

6. Look Beyond the Cheapest Quote

Two homeowners policies with similar premiums aren't necessarily providing the same protection. Policy language matters!

When comparing insurance, look at:

  • Dwelling coverage
  • Replacement cost provisions
  • Personal property coverage
  • Liability limits
  • Deductibles
  • Water-related coverage
  • Additional living expenses
  • Special limits and exclusions
  • Optional endorsements
  • Available discounts

Price matters. What you're getting for that price matters too.

7. Work With Someone You Can Call

Buying a home involves realtors, mortgage companies, title companies, inspectors, contractors and plenty of paperwork.

Insurance shouldn't become another source of confusion.

Working with a trusted local insurance professional gives you someone you can talk to before you buy the policy—and someone you can call when your needs change or you have questions about your coverage.

Your Local Insurance Partner

At John Fabry State Farm, we believe buying homeowners insurance should start with a conversation, not just a price.

We'll help you understand your mortgage company's insurance requirements, estimate the appropriate coverage for your home, review the smaller coverages that are easy to overlook, and explain your options in plain language.

Whether you're closing on your first home or simply want a second look at an existing policy, we're here to help.

John Fabry State Farm
Helping protect your home, your family and what you've worked hard to build.

Questions? Give me a call at 610-543-6167 or check me out online at https://sfdelco.com

Before you close, give us a call and let's review your new home together.

About John Fabry

John Fabry runs John Fabry State Farm. You can reach his office at 610-543-6167.

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A note from me, from the mortgage side of things: a late insurance binder, or coverage that doesn't match what the lender asked for, is one of the more common reasons a closing gets pushed. Get your quotes started as soon as you're under contract, not the week before settlement. And if the home inspection turns up something like old wiring, read what your inspection report isn't telling you about electrical before you shop policies, because some carriers won't write a policy on a house with active knob-and-tube.

If you're buying in Delaware County and want to talk through the rest of the process, reach out anytime. Still deciding where to look? The Delaware County community guide covers every town. And if you already own and are curious what your place is worth, start here.

Licensed Real Estate Agent in Pennsylvania and Delaware | Premier Property Sales and Rentals | 192 Saxer Avenue, Springfield, PA 19064 | 484-442-0295