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Usually, the closer you get to downtown, the higher the cost of real estate. However, if you happen to live in Butner, NC, you can enjoy low real estate prices with the proximity of Raleigh, the big city nearby. Getting more house for your dollar comes with the responsibility of insuring that home for loss, and particularly in North Carolina, that can mean risks that range from hurricane flood and wind damage to repairing bullet damage from the local deer-hunter who missed his quarry. Whether its new or old construction, you will want to make sure you’re covered for what life has in store for you.

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New Construction is Popular

New construction in big cities can be limited by a lack of space, but more available outside. These “bedroom” communities get the best of both worlds: new construction at a bargain basement price. However, new construction requires several different types of home insurance. Builder’s insurance is necessary while the home is being built and then, house insurance is required, after it’s passed inspected. This is not to protect the builder. It’s to protect the owner of the house. If you’re paying someone to build your house, you will want to make sure that you have coverage so you don’t lose money if something or someone is harmed during the construction of the home on your property. It won’t cover a full building because there is no full building to call a home, yet. However, this type of home insurance can be even more important to keep the building process going even if something happens on the job site. Otherwise, without insurance, the home may never get built in the first place.

Existing Home Insurance

Once the home is completed and passed inspection, you still need homeowner’s insurance to prove to the financing company that you’re covered for any potential loss. The fact is that you can still have issues with shoddy construction years after a builder leaves the site. If that isn’t a problem, you might have a fire or a passing storm could gut your house completely, before the note on your house is fully paid off. At that point, you will need to rebuild, which is why homeowner’s insurance estimates the cost to rebuild the home when they are trying to figure out how much to insure your house for. It may be surprising, but it’s not the original amount it cost to build or buy the home. It’s usually far more than that. Not only should your house rise in value as each year goes by (due to inflation), but also the cost of materials will rise, making far more expensive to rebuild. It’s better to estimate the house at more than its original value when seeking out a home insurance policy that guard against catastrophic losses.

Find a Good Deal for You

Home insurance premiums don’t have to be high. You can settle on a policy that insures your home, but keeps the premiums affordable. You can always insure for less than the full cost of replacement in today’s dollars, and that can lower the premiums. If you don’t live in a flood plain and flood insurance is optional, that can also save you some money, too. If you’re ready to discuss your options call 800.601.7829 to speak with one of our representatives today.