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Think Renter’s Insurance is Only for Your “Stuff”? Think Again!

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  Think Renter’s Insurance is Only for Your “Stuff”? Think Again! Clients often think they don’t need renters insurance — “Nothing I have is worth that much,” they’ll say, or “I don’t have a lot of stuff.” That’s how most people think of renter’s coverage: protection for stuff, and nothing more. After all, it’s inexpensive and it doesn’t even cover the structure itself. So how important can it be, especially if you don’t think you have anything valuable to protect? Plenty important, because you have more to protect than you realize. You just have to stop thinking only about “stuff.” Here are three key financial protections a renters policy provides: Loss of use coverage. What would you do if a fire or other issue forced you out of your home? You’d have to find a temporary place to stay, maybe even for months — which might cost you more than your normal rent. Loss of use helps cover that and other additional expenses. Personal liability protection. If someone trips and injures themsel
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Top tips every house-shopper should do before signing on the dotted line

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Top tips every house-shopper should do before signing on the dotted line…

Before House Hunting:

Check Your Credit Rating

A good credit history helps you in many ways. Good credit makes it easier to get a mortgage at a competitive rate, and it may also qualify you for a good credit discount on your insurance. Get a copy of one or all of your credit reports. Make sure they are accurate and report any mistakes immediately.

While House Hunting

As you search for your new home, remember that the physical characteristics of the house—its size, location, construction and overall condition—can affect the cost, choice and availability of home insurance. Following are some factors to consider when shopping for a home:

  • Quality and Location of the Fire Department

  • Age of the Home

  • Condition of the Roof

  • Is the Home Well-Built and Up to Code?

  • Risk of Flooding

Damage from flooding is NOT covered by standard home insurance policies. If you are buying a home in an area at risk from flooding, you will need to purchase separate insurance.

  • Swimming Pool or Other Special Feature

Before You Place a Bid on the Home

Check the Loss History Report

Ask the current homeowner to obtain a copy of the loss history report on the home. Homeowners can obtain either a Comprehensive Loss Underwriting Exchange (C.L.U.E.) report, which is available from LexisNexis, or an A-PLUSTM property report from ISO®. These reports provide a record of the type of loss on the home, the date of the loss and the amount and status of each claim—going back five years. If the report indicates there has been damage to the house, have it checked by a professional.

Get the House Inspected

You’ll need to have the house properly inspected in order to get your mortgage approved. Accompany the inspector and make sure he she does a thorough inspection of the home.

Estimate How Much It Will Cost to Maintain the House

Routine maintenance is your responsibility as a homeowner. Losses caused by failing to properly care for your home are not covered by standard homeowners insurance policies.

Call Your Insurance Professional

Don’t wait until the last minute to think about insurance. Ask your insurance professional if the house will qualify for insurance, and get an estimate of the premium. Call me at (602) 750-0616 or click here for a free estimate.


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Location: Mesa, AZ 85206, USA

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