We understand, you need a realistic and competitive hazard insurance estimate for the GFE…We understand you need the binder and invoice 10 days before closing… More if closing gets to Hurricane Season. We understand if the rate changes a week from closing – that’s bad. That’s why we’ve created a specific process for home buyers which helps avoid those last minute issues and make sure we can get your processors the information they need on time…often before they ask for it.
We know there are also many factors about the PERSON buying the house which can affect their ability to get insurance or the rate. Click for the list of buyer insurance factors or send them to our Homeowner Insurance Prequalifier page so they can see what issues they may be facing if any. You can also sign up for our ‘Originator Update’ and we’ll email you about every 6 weeks with a SHORT update on what YOU need to know about changes in the insurance industry.
Pre Qualifications for insurance
Everyone gets prequalified for a mortgage, but almost no one gets pre-qualified for insurance. Below are a list of factors about YOU that can affect your insurance rate or eligibility. You can also complete our “Insurance Prequalification questionnaire” and you can see exactly how much those factors may affect your situation. If you’re already under contract, we suggest you complete our “Detailed Home Quote” questionnaire so we can get to work on your situation and contact you about what you should do based on your exact timeline and situation.
Factors not related to the property itself which may affect your home insurance rate or eligibility:
- Past property claims or losses in last 5 years
- Bankruptcy, short sale, repossession, and other negative financial issues within the last 5 years
- What types of animals you have or what breed of dog you have
- Ownership of recreational vehicles (ATV’s, Golf Carts, mini-bikes, Jet Skis, etc)
- Unrelated owners of the property being purchased
- Any owners of the property who will not reside there full time
- You are getting more than 2 mortgages/liens on the property
If you have any of these issues, it doesn’t mean you’re not going to be able to get an insurance policy. It simply means you want to start as early as possible. Your options may be limited and/or it may take more time to find a suitable policy. Give us a call right away or fill out our detailed home quote sheet and we’ll help get you pointed in the right direction, even if that means pointing you to another agency.