Jim Porter, a San Diego Insurance Specialist, says, “First time home buyers tend to be younger couples entering the world of real estate and home ownership.” One of the most important needs of the first time home owner is to understand their insurance needs. More specifically, Home Owners Insurance, the thing millions of people rely on to protect them from potential losses every single day. Purchasing a house is a big investment, arguably the largest investment a lot of us will ever make. This is the house which the family will be growing into, and eventually call their home.
This is clearly an exciting time in anyone’s life, but it can also be intimidating with new responsibilities and big expenses. Helping them to understand their policy, and how they are protected better, instills a new sense of peace of mind which a well trained and experienced Insurance Broker can help them achieve. The young family deserves the right protection.
Purchasing the right insurance for your needs is far more than getting a price. Every family is different and has different needs. Porter says, “Insurance is pretty widely recognized as a boring and tedious part of your finances and life in general, and I’m here to tell you it doesn’t have to be.” The new home owner can do several things that will make the insurance purchasing process easier.
First, have all of the pertinent information ready before you talk to the broker. Gather the current declaration pages for the current home policy (if applicable) and auto insurance and personal information for the home owners and all drivers. This includes birth dates and driver’s license numbers. Many companies also give discounts for select occupations, for instance, if you are a member of a credit union within California. You never know what may qualify for another discount so be sure to have all of that information ready.
Second, have the loan information ready. This includes the contact information of the loaning officer, company name, loan number, etc.
Third, gather the specifications of the house. Things like when was the roof, plumbing, heating and electrical system replaced or worked on? When was the house built? What is the square footage of the house? Is there a central or local burglar or fire alarm system? Are there any special features/customizations done to the house (ex. pools/spas, French doors, bay windows, wet bar, sky lights, etc.). Is there a pool with a slide or diving board? Are there dogs on the premises?
There are two parts to the insurance buying process. The policy itself is one half. The other half of the equation is the service the broker or agent provides. Select both carefully and when the time comes that you need to use the insurance, you will not be disappointed.
See more about insurance and Jim Porter at: http://www.financial.sandiegoprofessionaljournal.com/jim-porter/.