Step 18: Set Up Homeowner's Insurance

One of the things the mortgage underwriter will require you to do at some point during the underwriting process is to set up Homeowner’s Insurance, so it’s better to get a start on this task now. For most people, your home is the biggest purchase you will ever make and you want to make sure it’s properly insured.

Our biggest piece of advice is to shop your homeowner’s insurance around because rates can vary dramatically we recommend starting with whatever company insures your car and getting a quote from them first as you’ll likely get a discount for already having car insurance through them. After that, reach out to a few other insurance providers for quotes:

Know the difference in coverage as well. Ask the agents what their policy coverage is ACV OR RCV. One is better than the other on coverage, and pricing will vary. 

• State Farm - Tyler McCall 918-639-0143
• Tipton Insurance Agency - David Tipton  405-376-6611

Here’s a great article with tips on shopping for your homeowner’s insurance policy!

Have your homeowner’s insurance policy go into effect the day BEFORE you close on your new home. That way if (heavens forbid) your new place burns down while you’re at closing, you’ll be covered. Also, be sure to get proper documentation from your new homeowner’s insurance company to provide to your underwriter; they will require proof of insurance before they’ll approve you for your loan.