How to keep your “Buyers” Home Insurance Premium low:
- Buy New(er) or Renovated Homes. Age of home is a crucial factor in the pricing. New homes tend to get the best pricing. However, older homes can have low premiums too. If your client is looking for something vintage or a quality ranch, make sure the Roof, HVAC, Plumbing, and Electrical have been updated.
- Get quotes sooner than later…the longer you wait, the higher the premium (by 10% in some cases). Many companies offer an “early shopper” discount for Insured’s who are responsible enough to get quotes 10 -30 days in advance of their closing.***TIP: Refer to us after you have submitted the contact to the Title Co/Bank.
- Zip Code matters…some companies look at both what city you are buying in and also the zip code the home is in. Crime and Economic statistics impact the pricing.
- Bundle, Package, Combine...no matter what you call it, the more you can have with one company, the better your home insurance premium will be!
- Buy a home that is 67% brick or more…a Brick property gets better discounts than a property rated Frame.
- Purchase a Monitored Home Security System: Burglary and Fire. Not always, but more often than you’d think, the discount on the home insurance offsets the monthly cost for the alarm monitoring.
- Look at the Deductible…Depending on the purchase price, and insured’s deductible tolerance, a higher deductible may make sense.
- Lastly, and most importantly…talk to an Independent Agent….Like us! The buyer will be shopped with more than one insurance company, more options on price and coverage can be researched, and the agent can have a more objective opinion on the coverage/cost options.
If you have any questions, please don’t hesitate to reach out to me or my team. Happy Selling!
Thank you for your referrals!
Ryan P. White
6 Cadillac Drive - Suite 100
Brentwood, TN 37027
The Ashton Real Estate Group of RE/MAX Advantage
The #1 Real Estate Team in Tennessee and #2 RE/MAX team in the World!