Triple-I, Nat’l Assn. of REALTORS® Release Homebuyers Handbook


For immediate release
New York Press Office: Michael Barry, 917-923-8245, 


NEW YORK, Aug. 8, 2023—To educate prospective homebuyers about their property insurance needs, the Insurance Information Institute (Triple-I) and the National Association of REALTORS®  (NAR) today released a Homebuyers Insurance Handbook


“Now more than ever, given increased climate risk as well as economic and inflationary challenges, homebuyers need tools to help them make informed decisions to better manage what is often their largest individual investment,” said Sean Kevelighan, CEO, Triple-I.  “Having the right type and amount of insurance provides critical safe keeping to homes, and so by Triple-I teaming up with the National Association of REALTORS®, we will empower even more consumers with key insights during a most important transaction." 

Purchasing a home can be an exciting event that can also come with new responsibilities and questions, especially for first-time buyers. The Handbook’s readers will discover information on making sense of these concerns in line with their financial goals.

“The Homebuyers Insurance Handbook clearly explains how purchasing a homeowners insurance policy with the right type and amount of coverage protects a homeowner’s investment and financial future,” stated Kenny Parcell, President, NAR. “This eight-page Handbook includes the essential information a prospective homebuyer needs to prepare for a conversation with their insurance professional.”

For instance, the amount of coverage for the home itself should be based on what it would cost to rebuild the structure in the event of a total loss, in its current location, with comparable construction materials–at prices that may be affected by disaster-related demand surges or inflation. Protection to rebuild a home's structure is typically listed as dwelling coverage. Once the home's dwelling coverage limit has been established, personal property coverage usually equals 50 to 70 percent of that number. Also, to be covered for property damage caused by either floods or earthquakes, a homebuyer must purchase separate policies because both perils are excluded in a standard homeowners insurance policy, the Handbook notes.

The Handbook says these are the six ways to get the right amount of homeowners insurance:

  • Raise your deductible in exchange for a lower premium 
  • Ask about discounts and bundle options 
  • Make your home more disaster-resilient 
  • Don’t confuse the total amount you pay for your house with its rebuilding costs 
  • Review your insurance coverage annually after you’ve purchased the home 
  • Keep in mind an insurer’s value also includes the services it provides to policyholders 

The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.


Articles:                                      Homeowners Insurance Basics                                                   
                                                   What Is Homeowners Insurance?                                                   
                                                   How To Save Money on Your Homeowners Insurance 

Facts & Statistics:                       Homeowners and Renters Insurance

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