Sellers
TRUE OR FALSE:
Homeinsurance is transferrable.
False
What are the components of home insurance?
Dwelling, other structures, personal property, Liability protection, Loss of use, medical payments.
What is the number one reason for claims?
Property damage
Part of policy thats shows who, what, when, and where.
Declaration Page
Who needs insurance?
EVERYONE! (at least at some point)
home/auto/motorcycle/umbrella/boats/life we can help with it all!
TRUE OR FALSE
Upgrades and new installations will help you save on home insurance?
TRUE
Updates to plumbing, heating,electric, water leak detections, etc.
What does home owners insurance cover?
Damage to exterior/interior (covered perils), liability for harm to others, loss or theft of possessions, etc.
How often should homeowners prune trees on property?
At least every 2 years
Deductible
Whats the average home owners insurance cost in CT?
Around $1650
When should seller cancel active home policy?
At the closing! Cancelling prematurely leaves seller at risk!
Homeowners insurance protects?
Buyers investment/ financial future
15 years or newer
Is there additional insurance for homeowners other than home insurance?
LIFE / UMBRELLA /AUTO
When was the first combined homeowners policy bound?
1950- home, fire, theft, and liability in one policy
Claims history follows the property not the homeowner?
It follows both. CLUE reports pull the properties claims. The same property claims follow the homeowner that's lived at the address during the time of the claim.
How many carriers does Comparion carry?
31 Carriers to help assist you and your clients!
MARKET vs REBUILD VALUE
Market - perceieved value for buying and selling
Rebuild- actual cost to build based on cost of labor, lumber, gas.
What does Coinsurance encourage?
Owners to insure properties to reasoable percentage of their value.
Which founding father has founded one of America's first insurance companies in 1752?
Benjamin Franklin