By a Rollo Insurance Client
Closing on a home is the culmination of many building blocks. If you have bought a home before, or are in the midst of the process, you know that there is always some kind of moving part that you are trying to nail down to make sure everything is ready by closing day. The process can be full of many “first times,” and one of those is buying homeowners insurance. This can be exciting and overwhelming at the same time. The implication of being a first-time home buyer is that this is likely the first time you have had to look closely at homeowners insurance.
Deductibles. Claims. Rebuild cost. Market value. Flood insurance. No flood insurance. I have to pay more money? Covered. Not Covered. Why does it matter how far a fire hydrant is away from me? Huh?
I was in my twenties, trying to navigate the home buying process (and life), and just knew that researching insurance on my own was not going to cut it. It would be time-consuming and risky in the event that I needed to file a claim down the road. That’s where Rollo Insurance came in.
And they nailed it.
Instead of just being another building block to worry about or box to check before closing, Rollo Insurance was on my team every step of the way. Their unique approach emphasized education and relationship to give me confidence that my home would be covered in the event of the unexpected and kept me informed on the content of my coverage for the right price. So, if you are a young, first-time homebuyer, you don’t have to be in it alone. Becoming part of the Rollo Insurance family was foundational in being ready for closing day.
Working with a mortgage lender? You’ll need homeowners insurance.
Lenders want to make sure that their investment is protected, so most require proof of insurance (with specific policy requirements) by closing day. Make sure your Rollo family knows when you are expected to close so your individualized policy can be effective on that date (and so they can celebrate with you!).
Cash deal? You’ll want homeowners insurance.
If you are paying cash for your home, you want to protect your investment, too. It’s a good idea to have your homeowners policy in place by closing day to make sure you are covered starting on day one of owning your home. The unexpected doesn’t have to be scary, but it can be if you are not prepared.
Location may be more important than you think
Where your future home is located helps determine how much you will pay. For example, living in an area with frequent tornadoes may lead to your premium being higher because your risk is higher. This further showcases the importance of working with an insurance agent that has an individualized approach for you and your family. Rollo Insurance got to know my situation and where I would be to create a plan for protection, both physically and financially.
“If it can rain, it can flood”
The Texas Department of Insurance states, “If it can rain, it can flood…most home insurance policies don’t cover flood damage.” Your Rollo family will ask if you live in a flood zone and about the possibility of adding additional coverage in a flood insurance policy (only if you need it).
Discounts versus counting the cost
You are likely either making a down-payment plus closing costs for your home or paying a hefty sum for a cash deal. Homeowners insurance can often seem like just another hit to your bank account, but it is vital to view insurance as more than just another transactional endeavor. We are talking about protecting your hard-earned assets that you have worked years to attain. Discounts that will save you money (not at the expense of good coverage) can include multi-policy discounts with the same carrier and quote comparison. Distance from fire hydrants or fire stations are just a couple examples of how your quote can be affected.
I wanted to work with an insurance professional I could trust to help me understand the possibility of true discounts. The cheapest premium may not always be the best for your situation and the most expensive may not be the best for your pocket. Rollo Insurance prioritized education about my quotes to help me learn the difference.
Speaking of differences, they like to say “The Difference is Real” at Rollo Insurance. Working with my Rollo family in securing the policy that fit my insurance needs made a real difference in the homebuying experience. They can serve as a key component before you get your keys, too.
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