Protecting your Client’s Assets

For the majority of homeowners, their home is the single most expensive purchase and their most valuable asset. Whether you are representing a first-time homebuyer or a buyer who has owned many homes be sure to remind them to evaluate their insurance options. Home insurance is the single most important piece of homeownership when it comes to protecting your client's biggest asset. Things your clients should consider about home insurance:

• Obtain a C.L.U.E. (Comprehensive Loss Under Writing Exchange)/loss history report to evaluate the claims history of the property; the report may have information not included on a Seller’s Disclosure
• Past claims filed against the property may affect the price of insurance
• Always determine whether a home is in a flood zone and the cost of flood insurance
• An early request for insurance quotes allows time to evaluate various coverages and prices; transactions can be delayed or terminated due to problems associated with obtaining insurance
• Mortgage lenders typically require that the property is insured for replacement value
• Insurance premiums included in escrow will affect the monthly mortgage payment
• Availability of insurance options may be limited by the area in which the property is located

Protecting your client's new home and biggest asset starts by ensuring adequate coverage can be obtained at an affordable price before an offer is made. Our experienced insurance agents can assist your client by providing an insurance analysis, and verifying their dream home can be insured with the right coverages? and price.

I wish you and your clients much success finding their dream home!

Tom Carpentier