How do I get homeowners insurance? How do I go about doing that? What do I need to provide to the agent and how do they get a quote and set up coverage for me?
That is a very common question. If you need homeowner’s insurance, you are buying your first home or your first condominium and you are not sure how to go about doing it, here are a few tips for you.
Call an agent. We don’t recommend trying to get insurance online or through an 800 number. With homeowner’s insurance that system has not been perfected yet. Using an agent who is going to act in your best interest is going to be your best bet.
So call an agent. We recommend using an independent agent. They can shop around for you and try to find the best coverages and the best rates. They represent more than carrier rather than just calling a company who just represents that one company.
When you talk to your agent they are going to ask you some features about the home. Be prepared to have the approximate year built, the square footage of the home. Of course you are going to need the address. And they are going to ask you a couple features about the home.
One of the things that they are looking for is the age of the electrical system, the age of the heating system, the roof. So you might want to have an idea how old these things are and what kind of condition they are in, because that will affect which carriers you can go to for insurance and how much you pay.
The other thing is too when you are setting this up, they are going to ask you a couple questions about the features of the home, like is there a pool? Is there a fence around that pool? Is there a diving board? Is there a slide? Those are some of the things you need to know. If you answer yes to some of those, you may end up paying more.
What area is the home located in? Is it in an area where there are fire hydrants and a fire department close by or is it in a rural area? Some of those things will certainly affect what you pay.
How old is the house? That will affect how much you pay as well. If it is a newer home, you will generally pay less than if it is an older home. Newer homes have different construction methods and better fire protection, and that is generally the reason why.
So there are a few factors that are going to go into it. But you need to have this information ready ahead of time when you talk to your agent.
And then if you find a company, a carrier, and a price you are comfortable with, that agent should be able to take care of all the paperwork with your mortgage company if you are financing the home and get all the paperwork to them so you can have a smooth closing.
I am Ron Philio with Philio Agency Insurance and thanks for watching videoinsuranceagency.com.