When Is the Right Time to Invest in Home Insurance?

With home ownership come many responsibilities, and among the most pertinent is security. In this regard, home insurance becomes a significant domain, not for guarding its money value but part and parcel of the package for the peace of mind it can provide. However, for most homeowners, the question at the back of their minds always revolves around the timing of this investment. When is the right time to get a homeowners insurance policy? Let’s find out!

What is Home Insurance?

Home insurance, also commonly termed homeowner’s insurance, refers to the kind of contract that the homeowner undertakes to have protection against given perils of possession, such as fire, theft, and natural calamities. Essentially, it caters to the expenses of repairing or rebuilding the policyholder’s home and replacing the contents if the property is destroyed or damaged by one of the covered perils. It also offers liability coverage for accidents in and around the property.

Optimal Timing for Home Insurance Investment

When to buy home insurance can matter more than the policy’s effectiveness and cost. Among the critical times that one should consider holding an updated home insurance policy or securing a home insurance policy include:

Buying a New Home

One of the best times to start mulling over homeowners insurance is when you finally decide to purchase the home. Insuring from the very beginning not only keeps your new investment protected but might also suffice for a mortgage lender for any insurance requirements that he would have. This ensures you’re covered right from the time you take ownership.

After Significant Home Improvements

If you have recently invested in a new kitchen or addition to the house, it is to update your home insurance. You may have added value to your home since the day you purchased your policy, and your policy is not by this added value.

Prior to the Expiry of Your Current Policy

This is yet another strategic time to consider your home insurance options before the expiry of the current policy. This will allow for the reassessment of the coverage required and the offers available in the market. Even when policy renewal or changeover to a new provider is done reasonably and considered with the options in place, the same could be even more favorable.


Knowing when to buy home insurance goes a long way toward ascertaining that you stay financially afloat and that your investments are safe. Whether you’re a first-time homebuyer, moving to your new home, or just re-evaluating your present insurance need, home insurance is something you should look at as one of the essential elements of your home ownership plan. At Pelican Insurance Agency, we work with you to tailor the coverage that fits your unique situation. Feel free to call for a quote and consultation. With Pelican Insurance Agency, you’ll be assured of making a sound financial investment in your home’s security and peace of mind.