If you haven’t yet found a realtor, mortgage broker, or home inspector, your Local independent insurance agent can usually provide recommendations on for local professionals. Like many small business owners, independent insurance agents have strong roots in their community through networking, volunteering, family events, schools, and more. If they haven’t worked with a person directly, they often know someone who has!
Claims’ History
Once you’ve found a property you like ask your independent insurance agent to check for a claims’ history. Insurance agents have access to this information using the Comprehensive Loss underwriting Exchange, also known as CLUE. It is important to get this information as it can expose any trends in claims (for example: if they have several water damage claims over a number of years, this could indicate an on-going issue). Insurance carriers may also look at claims’ history when they determine your insurance premiums, a couple of claims in the past 3 years could result in higher premiums.
It is important to note, that just as a claims’ history of a property can impact insurance rates, so to can the claims’ history of the insured. If you had one or more claims at your previous home, those claims could be taken into consideration when determining the insurance rate of your new home.
Review your home inspection
Sharing your home inspection report with your independent insurance agent can help you identify red flags when it comes to insurance. Insurance agents understand what insurance carriers look for and can highlight any potential areas that could cause your rates to be higher than expected.
Additional Information an Insurance Agent can provide
- Estimated cost of coverage - An insurance agent can give you an estimate on what it will cost to insure the home.
- Recommend additional coverages – An independent insurance agent can discuss additional coverage options for your new home, including endorsements such as Underground Service Line Coverage endorsement
Concklin Insurance Agency is here to help you with your homeowner’s insurance, whether you are buying a new home, renting, or currently own your home we are here to assist you with finding a homeowner’s policy that offers you the best combination of coverages, value, and price.
