Buying insurance is not like buying a tank of gas. When the gas light illuminates and that annoying little ping sound goes off (at least it’s an annoying little ping sound in my car) I look for the closest gas station to fill up my tank so that I can carry on with my day. At the end of the day, gas is gas. It’s a regulated product. Your tank is low (or often empty in my case); you pull into a station and fill up.

I don’t spend a lot of time researching and comparing. I may buy based on price but for the most part, gas is gas.

Insurance is different. It’s not a purchase one should make lightly and is certainly not one that should be made at the last minute. If there is one thing that I learned from Zach Ligon, my insurance agent extraordinaire, it is that it’s never too early to start thinking about insurance. I’m the kind of person who leaves a lot of things to the last minute so when he told me this, I knew it was information I should bold, highlight and star.

While I consider myself an expert in the field of shopping, I didn’t know the first thing about “shopping for insurance.” Where to begin? What questions to ask? My head was spinning just trying to take it all in.

Fortunately, Zach was patient. Extremely patient now that I sit back and think about it. He answered every single question and explained that there are three sources of insurance agents (that was news to me):

• Captive agents, who can sell you the insurance of only one company.
• Telephone representatives or direct writers, who can offer you the insurance of one company and who only do so over the telephone.
• Independent insurance agents, who represent an average of eight insurance companies, and research these firms to find you the best combination of price, coverage and service.

Listen up, first-time homebuyers. If you want coverage that is personalized to suit your needs and budget, go with an independent insurance agent. That is my No. 1 takeaway. Let me repeat that:

TAKEAWAY: If you want coverage that is personalized to suit your needs and budget, go with an independent insurance agent.

Here are three things to also keep in mind:

• Deductibles: Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay.
• You may want to purchase your home and auto policies from the same company: Some companies that sell homeowners, auto and liability coverage will take a percentage off your premium if you buy two or more policies from them. This is called “bundling” and it’s a good idea to ask about it when you are sitting in front of your insurance agent.
• When you buy a home: Consider how much insuring it will cost. A new home’s electrical, heating and plumbing systems and overall structure are likely to be in better shape than those of an older house. That being said, if you go with an older home make sure the heating, electrical, plumbing, roofing have been updated and/or renovated. Insurers may offer you a discount if your house is new.

All in all, when the time comes for me to take that big homebuying step, I know that I will be armed with the best knowledge possible. What questions do you have about insurance?

By Genevieve Jooste