TC Me BLOG

Oct
19
Discuss Home Insurance with your clients from the Get-Go!

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As a Real Estate Agent, it is incredibly important to dive into the topic of Home Insurance with your clients right from the start, whether you are representing either a Buyer or a Seller. Understanding the average cost for Home Insurance Policies for the property is a significant part of the process and can be crucial for the sale/purchase, as the Buyer will most often not be able to obtain a mortgage without it.


There are many insurance companies that offer homeowner’s insurance. Make sure your clients know the details or the plans and what it does and does not cover – for example, homes in a High Fire Zone can be difficult to find coverage depending on the area. Floods and other natural disasters are usually not covered by home insurance.



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There are three basic kinds of homeowners insurance:


• Guaranteed Replacement Cost


• Replacement Cost


• Actual Cash Value


The age of the home, the location, type and even your personal history will determine the cost of your coverage Many homeowners’ insurance premiums can be escrowed and included in their monthly mortgage payments.


Understanding their costs and coverage before homeowners commit to a particular policy is imperative. The deductible should not be more than they can reasonably afford, and the rate also should fit into their budget to ensure they will in fact be able to purchase the property.


By researching Home Insurance Policies as the home is listed so sellers are aware of approximately what the new buyer will need to afford, or to know what your buyers can expect, makes you a great support to confirm that your clients are well prepared and your transaction goes as smoothly as possible.


The age of the home, the location, type and even your personal history will determine the cost of your coverage Many homeowners’ insurance premiums can be escrowed and included in their monthly mortgage payments.


Understanding their costs and coverage before homeowners commit to a particular policy is imperative. The deductible should not be more than they can reasonably afford, and the rate also should fit into their budget to ensure they will in fact be able to purchase the property.


By researching Home Insurance Policies as the home is listed so sellers are aware of approximately what the new buyer will need to afford, or to know what your buyers can expect, makes you a great support to confirm that your clients are well prepared and your transaction goes as smoothly as possible.


For more information on why Home Insurance is important go to….


https://www.millerpublicadjusters.com/free-property-insurance-claim-advice-blog/understanding-the-importance-of-homeowners-insurance


Homeowners insurance is a crucial step in your journey to home ownership, in fact, you may not be able to obtain a mortgage without it. Your policy will cover both your property and events that may happen on your property. There are three basic kinds of homeowners insurance: actual cash value, replacement cost, and guaranteed or extended replacement cost.


Comparing insurance policies for coverage and price is always an important first step! Make sure you know the particulars or your coverage, and what it does and does not cover – for example, floods and other natural disasters are usually not covered by home insurance. Your location, type, and age of home as well as your personal history will determine the cost of your coverage.


There are many insurance companies that offer homeowner’s insurance. This gives homeowner’s multiple options and lets them price-shop, too.


Before homeowner’s commit to a policy, they need to understand their costs and coverage. The deductible should not be more than they can reasonably afford, and the rate also should fit into their budget.


Many homeowners’ insurance premiums can be escrowed and included in their monthly mortgage payments. Most importantly, homeowners need to have a good understanding about what their policy covers…and what it might exclude.



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