I have found that first-time buyers usually ask me what information they should have on hand when calling in for a quote? What information do you need or should they provide in order to get a quote?

This is a very good question. Telling your buyer what information they need will help the insurance person out and make your transaction go smoother. Basically all a first time buyer needs to have is information about their house that they are purchasing. Here is a list of important things that they should know.

Square Footage
Outside Building Materials
Inside Structure Building Material
Wiring Type
Flooring
Wall Finishing
Type of Dog
How close is the nearest fire hydrant
How close is the nearest fire station
Square footage of basement that is finished
Number of bathrooms, half baths and full baths
Last time roof, electrical, ventilation, and plumbing was updated
Does the home have any special features of the house.


All of this information pertains to how the home will be underwritten and how much the home will be insured for. Pretty much any information about the house that will tell the insurer how much to insure the house for and how much of a risk this the house is will all affect how much the house will be quoted for. Also to get a fair quote you should advise them that in most state precious items like jewelry have limits and to cover jewelry may require an additional charge. In Ohio this is the case. So tell them to make sure to include this when shopping around and getting quotes. This list should pretty much give you a good checklist of what to tell your buyers. Hopes this helps you out aklepac!!

Type of dog? Really? Never, ever would have thought of that one, but it sorta makes sense. Better go call my agent.

Some companies are not very strict about what kind of dog you have and some are. Certain dogs like Pit Bulls, Akitas, German Sheperds, any kind of wolf breed, Boxers and others may be restricted by some insurance companies. Some companies just won't write a home with these kinds of dogs. Or if they do, they have to meet certain guidelines. This is just because statistically, these dogs have been proven to bite more and thus increasing the liability risk. Therefore, some insurers will not want to take this risk. It is important that buyers are aware of this and tell the agent upfront if they have one of these dogs.

Woh. I was thinking more along the lines is a home was broken into, and there was some kind of pure bread in the home. Didn't think of the risky dogs. That is some really good info to know.

This is really good info. My if I copy it? I'm trying to put together a first time homebuyer checklist.

My insurance company will not write a policy where there is a pitt bull, doberman, or rottwieler, and they will cancel your policy if they find out you have one of these breeds. I think this is a bit silly, as I have known some vicious poodles in my day, and some very nice dobermans!

You are absolutely right. I also think the dog restrictions are silly however they are based on pure statistics. From an insurance company standpoint, they want to make the most money possible and therefore will be less willing to provide coverage for something that increases their chance of paying out.

Sure LuvDuv, feel free to copy this and include it in your first time buyer checklist. Since you’re from Florida, you still might want to check with a Florida agent to make sure that there isn't anything that I'm missing that may be specific to your state. Also because insurance has such a connection with Real Estate I would see if you can get your broker to have a knowledgeable insurance agent come into your office and speak about homeowners insurance. I have done these kinds of speeches at a few Real Estate offices and they have been very successful. It is a great educational experience for the realtors and gives them a chance to build a relationship with someone in the insurance field. This way realtors can have a resource in the insurance industry where they can direct all of their insurance related questions. I think it would be a good idea for every real estate office to have someone in the insurance business to work with. So ask your manager if this is something you can do at your office. And for anybody that works out of northeast Ohio, I would be happy to visit your office and give a free educational seminar on homeowners insurance.

Normally we would ask to email (give us a link) to the appraisal report. Neither buyer nor his/her realtor do not know all the answers to all the numerous questions on the quotation form.

No matter how many questions would be asked on the form the premium really depends on the square footage and construction cost in that local area. Local agent will give you a very close estimate just based on the ZIP code and square footage.

The best way of handling that situation with a first time buyer is to tell him - this is the business card of Jim Smith. He is the insurance guy to keep for the rest of your life. Call him today, tell you are referred by me, schedule an appointment in his office. talking on the phone is not an alternative. I am sending him all the information he needs to quote the home. Make sure he looks at your entire household - cars, life, health, disability, umbrella. You do not have to buy all at ones. But, becoming a home owner changes completely your risk exposures. You now must be taken professional care by the best insurance and not just insurance specialists.

And this is another business card of my favorite trust attorney Jake Lee. You also schedule an appointment with him so he explains you the purpose of will and trust.

And I'll call to both guys myself to make sure they meet you ASAP. Would you mind if I give them your cell phone number so they can call you?