Georgia Home Insurance.com

Are you purchasing homeowner insurance when you buy a house?

Most new home buyers are NOT buying homeowner insurance…   That statement may be a bit over the edge.  Reality: The homeowner is paying for a policy and getting coverage required by the mortgage company but the home buyer is not personally purchasing their policy and not all insurance is equal.  The coverage provided in a policy has the ability to be positioned for the owner and not the home. 

A realtor wanting to sell a home, buys a home for the homeowner…  Hum.. That seems strange.  What are the chances the realtor will find the home, colors, location, etc. that meet the buyer’s need?

Too many homeowners are never talking to the insurance company and more importantly, they are signing an application at closing never knowing what information was incorporated into the application and validating the information is correct.

Mortgage companies provide a good service of providing referrals.

Realtors provide a good service of providing referrals.

Make sure the REFERRAL is just that and not a policy.   Consider the following:

• Talk to the insurance agent
• Get an alternate quote
• Understand the coverage
• Ask questions about what the policy covers
• Ask questions about what the policy does NOT cover
• See the application and sign the application for insurance PRIOR to closing

The list is longer and I’ll consider writing more later.   When you are provided a referral, consider giving us a call to to provide an alternate solution.  Our services are more than insurance.  Let’s us define what that means too.

Our phone number is: 1-877-MattLocke or 678-682-9700

Coverage Pricing is based on:

Location of the Home- Fire (ISO) Codes and Other Location Information

Value of the Home- The dwelling coverage amount has a direct coorelation to the policy price.

Coverage Selected- Liability Limits, Loss Assessment Coverage, Lock Rekey for stolen keys, Scheduled Personal Property values (Wedding Band or other Jewelry), Identity Protection, and other additional coverage.

Deductible- Deductible levels provide a wide variety of prices.  $500.00 – $5,000.00 deductible could provide pricing changes of over 50%.  The higher the deductible the lower the price. 

Loss History- The absence of prior claims in the last 3-5 years has a significant on the cost of the homeowner policy.

Prior Insurance- Having property insurance without a lapse in coverage shows an insurance company that you understand the importance of having coverage.  There are discounts to new property insurance policy when there is not lapse in coverage.

Security Devices- Dead bolt locks, Monitored or non-monitored alarm system, home sprinkler system

Home Construction- Solid Brick has huge discounts, Brick vaneer has good associated discounts, while wood siding may not carry as high of a discount.

Multi-Policy Discounts- Having related home and auto policies with the same carrier positions the insured with additional discounts.  These same policies can provide additional discounts on boat insurance, motorcycle insurance,  pwc insurance, other other powersport coverage.

Credit Worthiness of the Insured- (we do not ask for or require social security numbers)  The indebtedness of the insured can pose additional risks for loss.  Debt ratios and the amount of credit used vs. available credit can play into the pricing of the homeowner policy.