Your #1 referral choice should be Goodlad & Swank Insurance. Why? Your clients trust you and rely on you with questions you might not have time to answer. We love answering any question you may have so you can inform your client or better yet… have them call us directly and we’ll handle it for you!
PS: We return all calls the same day.
The reality is that policies, just like people, are highly individualized.
Two identical houses right next to each other can have totally different premiums. Some potential reasons are prior claims history, credit scoring, discounts for multiple policies, and “Pride of Ownership” which is another waying of saying upkeep. Just because a client pays a lot for insurance also does not mean they get a lot of coverage. The reverse is true as well. Your client can pay far less than others and enjoy much broader coverage. Insurance is highly specific to each client and house. Remember, it does not cost any more to partner with a licensed insurance professional for guidance and also that working with the wrong one could cost you dearly.
These answers are critical to ensure they have the appropriate coverage. Also, keep in mind that the Market Value of a house often has no relationship to the Replacement Value. If your client is paying a premium for a great location or if they got a great deal, there is likely to be a big gap between what the bank thinks the house is worth and what the insurance carrier thinks. These two are important to know so you’re now in a better place to handle client questions.
The reality is that policies, just like people, are highly individualized.
Two identical houses right next to each other can have totally different premiums. Some potential reasons are prior claims history, credit scoring, discounts for multiple policies, and “Pride of Ownership” which is another waying of saying upkeep. Just because a client pays a lot for insurance also does not mean they get a lot of coverage. The reverse is true as well. Your client can pay far less than others and enjoy much broader coverage. Insurance is highly specific to each client and house. Remember, it does not cost any more to partner with a licensed insurance professional for guidance and also that working with the wrong one could cost you dearly.
Keep in mind any home built before 2002 will need this inspection. A licensed contractor creates a report that details the roof condition and construction method. It can also show other countermeasures the house has to combat winds. That data can allow us to offer discounts, sometimes huge, to the home insurance policy. Alternatively, if a house has a very old roof it is important to know your client will pay much more for insurance. Perhaps you can use this knowledge to negotiate for a credit or reduced price on the house. Long term, your client will be much better off if they can get that roof updated once they take ownership.
People often think flood insurance is only for high risk coastal locations. The reality is that roughly 30% of flood claims occur in “low risk” areas. There is almost no where in Florida that is free of potential flood damage. Another important thing to consider is banks can insist on flood insurance for homes in “high risk” areas. Sometimes those premiums can be astonishingly high and might impact a potential sale. Be sure to work with an insurance agency that can quickly get you or your client pricing on these higher risk houses. You will save yourself and the client time and, as a bonus, look like a hero for looking out for them. After all, this is likely one of the largest financial investments they make and is precisely why they picked you as their realtor!
The four points here are the plumbing, air conditioner, electrical wiring and roof. Most insurance carriers demand this inspection if the home is over 30 years old. These for points here are the ones most likely to cause a future loss so the carriers are interested to see if they have been recently updated. If they have not been, then you can use this knowledge to negotiate a better price for your buyer or advise your seller the potential need to update. Older houses have a lot going for them like mature landscaping and trees, established communities, neighborly feel, and nearby businesses. Keep the Four Point in mind when your client is considering the pros and cons of a potential house.
Copyright © 2020 Goodland & Swank - All Rights Reserved
Open Hours:
Monday through Friday 8 AM – 5 PM
Phone: (239) 674-7630
Email: info@goodladandswank.com
Home Office: 702 Leeland Heights Blvd W.
Lehigh Acres, FL 33936