1. Find a Trustworthy Insurance Agent
a. Install that person as a key member of your team!
b. Find someone you trust and like
c. Find an agent that can handle most of the business you refer
2. Use the HECK out of your Insurance Agent:
a. Run CLUE reports and Flood Zone Determinations
b. Strategize if there are existing claims on properties
c. Discuss Options if Flood Insurance is mandatory
3. Secure clients Homeowners Insurance during the Option Period:
a. Provide an insurance solution on listings with claims
b. Make sure buyers aren’t assuming that they can get coverage
c. Homes or buyers with claims or credit problems may be surprised at their insurance rates
d. They may be surprised to see that they have claims
4. Understand the differences in Home Owners Insurance Coverage
a. Two types of coverage “All-Risk” and Named Perils for the dwelling
b. Do not recommend Named Perils/HO-A/Texas Fair Plan unless it is truly the last resort
c. You wouldn’t consider Named Perils on your car, why would you on your home?
d. To compare available Home Insurance policies: http://www.opic.state.tx.us/hoic.php
5. Always Recommend Flood Insurance
a. If you are selling or buying a home in Flood Zone AE, always ask the seller of the home to provide a copy of their current flood insurance policy declarations page
b. It could save hundreds to thousands of dollars annually
c. FEMA’s flood policy is transferable from one owner to another
Bottom Line:
Secure an insurance solution early so there are no surprises! The Option Period or Due Diligence Period goes by quicker than you expect….don’t get caught in a purchase that is jeopardized by the lack of insurance or denied insurance coverage.
Need a good Insurance Agent for your team during your purchase?
Leash Yu
Nationwide Financial Network
Tel: 713-688-8881
Let me show you the way...
I understand that finding your new home is just one of the tasks that face you when you're purchasing a new house. I can assist you in the home buying process which includes offer negotiations, assisting in the inspection and negotiations process after inspections. Beat other home buyers to the hottest new homes for sale in Houston with my New Listings Notifications. You'll receive updates via email to the properties that match your search criteria in the Greater Houston area.
Sincerely,
Diego E. Jaramillo
Realtor, ABR, e-Pro
Keller Williams Houston Metropolitan
Cell: 832-282-2069
Online at www.HoustonHeritage.com
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