Get Homeowner's Insurance: What to Know & When to Buy

What is homeowner's insurance and when should I get it? We recommend setting up home insurance and starting shopping during the first 10 days of your inspection period. That way you can find out if there's something crazy that pops up. For example, in Arizona, the very few basement homes that we have, we find that they tend to be quite expensive, like three or four times the amount of regular homeowner's insurance. This is because, one, they're few and far between, and two, the insurance companies see them as being a little bit more risky than a regular homeowner's policy. For example, someone with decent credit, we find they're typically going to spend somewhere between $600 and $700 a year for homeowner's insurance in our metro Phoenix area.