Buying or Selling a Home – What the Insurance Process is Like
The home buying/selling process can be drawn out and stressful. From dealing with your mortgage company, realtor, and inspector to worrying about accepted or rejected offers it seems everyone and everything deserves your undivided attention throughout the process.
Luckily, if you have a local CRG agent on your side, they can streamline part of the process for you.
Buying a Home
The insurance portion of the home buying process starts when an offer is accepted on a new home. The first step is to call your insurance agent to let them know you will need new homeowners insurance. Your insurance agent will need to know a bit of information about the home in order to provide a quote.
Here are a few of the things they would need to know:
|Address||Age of roof|
|Year built||Finished basement?|
|Type of home (Ranch, 2 story, etc)||Closing date|
|Square footage||Mortgage information|
Once given this information, your agent will get to work to find you the best rate for your home insurance. While the home buying and moving process can be pricey, your home insurance doesn’t have to be!
Your mortgage company will want proof that the home will be insured on the closing date well in advance. Your CRG agent can get in contact with your mortgage company directly to alleviate any messenger role you would need to play.
If your home insurance is escrowed, your insurance agent can get all the information needed to set that up.
Let’s say you have a closing date set for December 18th. Something comes up and the closing date is pushed to December 21st. You already have your home insurance set to take effect on December 18th.
What do you do? This is actually a fairly common thing to happen and your insurance agent knows how to fix it. Simply give them a call and they can have it adjusted for you.
Your CRG agent is here to make the insurance aspect of home buying easy for you. We take as much of the burden as we can so you can focus on purchasing your perfect new home.
**Did you know packaging your home and auto insurance gives a discount? It does! Make sure you have both your home and auto insurance insured with CRG and your agent will be sure to get you the discount.**
Selling a Home
When selling a home, the insurance process is relatively simple. Really the only thing that you need to do is to notify your insurance agent that you are selling your home. However, be sure to give them a heads up to make sure they have enough time to get insurance in place for your next residence. Also, be sure to verify when the home officially closes – in case there is a change in your closing date.
**Did you know home insurance insures your personal property even while moving to a new home? Yes it does!**
Imagine you do not have a CRG agent handling your insurance. You purchase a home and have to figure out what insurance you need and where to purchase it from.
You may even blindly accept the insurance offered by your mortgage company (FYI – the coverage is normally subpar and expensive for the insurance provided). Are you overpaying for insurance or even worse, not have the proper insurance on your new home?
Your insurance agent provides the proper home insurance at the best rate available. Leave the insurance to the trusted experts at CRG. We’ll ease a good amount of unneeded stress. You’ll know you’re protected.