Set Up homeowner’s insurance
One of the things the mortgage underwriter will require you do at some point during the underwriting process is to set up Homeowner’s Insurance, so it’s better to get a start on this task now. For most people, your home is the biggest purchase you will ever make and you want to make sure it’s properly insured.
Home insurance provides coverage for any sudden and accidental events unless stated otherwise in your policy. Homeowner’s insurance does not cover wear and tear. You are responsible for maintaining your home. Please keep in mind that flood insurance is separate from homeowner’s insurance and may be required if you are in a flood zone. Flood insurance costs will vary depending on which flood zone you are in and what type of mortgage you are obtaining (FHA loans require more expensive government sponsored flood insurance, however, this is currently being fought so that private flood insurance would be acceptable). Flood zones may surprise you for their locations. Check with me if the property you are interested is in a flood zone.
Our biggest piece of advice is to shop your homeowner’s insurance around because rates can vary dramatically. Pricing looks at credit history, claim history, the cost to rebuild the home and location.
To get a quote for homeowner’s insurance, you will need the address of the property, names, birthdates, and possibly your social security numbers. They will run a soft credit check.
I recommend starting with whatever company insures your car and getting a quote from them first as you’ll likely get a discount for already having car insurance through them.
I offer Utility Connect Concierge! This is a fantastic program to help you get set up in your new home from utilities to internet, to security, to insurance! If you have not heard from Utilities Connect, Go Here and fill out the form and someone will be in touch!
If you are not using the Utilities Connect Concierge, you can contact:
Dynamic Insurance
Dynamic Insurance Solutions - Jolie Stanton
Jolie.Stanton@outlook.com
(215) 858-8897
Simple Insurance
THEY OFFER BUSINESS INSURANCE for Commercial clients!
Simple Insurance- Matt Sundermier
(610) 871-1545
Info@mysimpleagent.com
Grisafi Insurance
Michael Grodanz, Agent
The Grisafi Agency
2626 Audubon Road
Norristown, PA 19403
Office....610-676-0353
Fax.......610-676-0232
mike@insuranceandtags.com
www.InsuranceAndTags.com
Have your homeowner’s insurance policy go into effect the day BEFORE you close on your new home. That way if (heavens forbid) something happened while you’re at closing, you’ll be covered. Also, be sure to get proper documentation from your new homeowner’s insurance company to provide to your mortgage underwriter; they will require proof of insurance before they’ll approve you for your loan.
