FROM HOUSE HUNTING TO CLOSING
Homebuyer insurance guide.
Buying a home comes with plenty of decisions. Use this checklist to prepare for a homeowners quote, understand your options and coordinate insurance with your closing.
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START BEFORE THE FINAL PAPERWORK
Have the property details ready.
Once you have a property in mind, leave time for an insurance review. Most lenders need proof of homeowners insurance before closing. GEICO’s homebuyer guidance explains why shopping early helps.
Tell us you are buying a home and your target closing date. Keep loan numbers, payment information and private documents out of the website’s message field; our team can explain any additional information needed.
- The home: address, approximate square footage, year built and construction type.
- The roof and systems: roof age and material, known repairs, and available inspection details.
- How you will use it: whether this will be your primary home, a second home or a rental.
- The closing: expected date, lender contact and any insurance instructions you have received.
ASK WHAT CHANGES BETWEEN QUOTES
Compare more than the annual premium.
Put the proposed coverage limits, deductibles and settlement terms beside each other. Ask the agency to explain differences before choosing a policy.
Coverage limits
Review the amount to rebuild the home, plus belongings, liability and additional living expenses after a covered loss. Ask which limits and optional coverages fit the property. TDI’s shopping checklist is a useful starting point.
Your deductibles
Ask for each deductible in dollars, including any separate wind/hail amount. A higher deductible may lower the premium but leaves more for you to pay after a covered claim. See TDI’s deductible guidance.
Roof settlement
Ask whether roof losses use replacement cost or actual cash value. Actual cash value subtracts depreciation, which can increase your share of a repair. Confirm any roof-specific limits or exclusions. TDI explains the difference.
What does a 2% deductible mean?
If a quote applies a 2% deductible to a $300,000 dwelling limit, that deductible is $6,000—not 2% of the repair bill.
Illustration only. Check the amount the percentage applies to and when that deductible is used in your proposed policy.
CHECK THESE SEPARATELY
Wind, hail and flood are different questions.
Wind and hail
Confirm whether they are included, what deductible applies and how the roof would be settled. Some Texas coastal homes need separate wind/hail coverage; do not assume every home policy includes it.
Read TDI’s home insurance guideFlood
Most homeowners policies do not cover flood damage. Ask about separate flood insurance, lender requirements and the start date; a waiting period may apply. Flooding can happen outside high-risk areas.
Ask about flood coverageReference: TDI’s flood insurance guidance.
KEEP THE CLOSING TEAM IN THE LOOP
Before you pick up the keys.
Use these questions to coordinate with your agent and lender. An estimated closing date can change, so let the office know when yours does.
Use our separate binder and evidence of insurance request page for closing documents or a mortgagee update. Documents and changes require review; submitting a request does not confirm coverage or a completion date.
Confirm the effective date.
Ask when coverage needs to begin for your purchase and confirm the date with the agency. Update the team if the closing is rescheduled.
Check lender and payment details.
Confirm the mortgagee name and address, which documents the lender needs, and how the initial premium and any escrow payments will be handled.
Get written confirmation.
Verify the policy’s status, effective date, coverage and deductibles. A quote request or document request alone is not proof that insurance is active.
PLAN YOUR NEXT STEP
Ready to discuss your new home?
About this guide
General information, with Texas-specific wind/hail guidance identified above. Coverage, eligibility, deductibles and underwriting requirements vary by state, property and insurer. Homeowners coverage is written by non-affiliated insurers and secured through GEICO Insurance Agency, LLC. The policy controls; our office can review available options with you.