HOME BUYER ALERT: Homeowner's Insurance

Purchasing your Homeowners Insurance Policy used to be a late in the process task.

I see this becoming more and more of a problem that needs to be addressed as early as the home inspection period to avoid problems prior to closing.

  In most cases when using financing to purchase a home, the lender will require you to pay the first year's policy upfront prior to closing. Most would wait until the process was close to closing and then take some time to call around for quotes and make a decision.

  With the recent events in the Northeast, namely Hurricane Sandy and one of the worst Winters in recent history last year producing roof collapses and ice dams, these companies are in recovery mode.  To say they are making the process more difficult is understating it.

I recently had a client call for a quote, the Insurance Agent went to the property and told her that he wasn't sure he could get the home covered because their were cracks in the sidewalk in front of the house.  (yes, we explained that this was the City's property and had nothing to do with the property in question).  Another client called only to be told that he could not get insured because one of the windows was cracked.  I can't make this stuff up!

 **** ADVICE **** Get your home inspection early and start getting Insurance quotes during the inspection period.  Some insurance companies are requesting to see the inspection report. If there are any issues that could prevent coverage, you want to address them with the Seller before the inspection period runs out. Call us today if you would like experienced representation when purchasing your home.  978-882-4659