Understanding Home Insurance and other insurances . #34

Homeowners insurance is made up of coverage that may help pay to repair or replace your home and belongings if they are damaged by certain perils, such as fire or theft. It may also help cover costs if you accidentally damage another person’s property or if a visitor is injured at your home.

To cut straight to the point, the primary purpose of property insurance is to protect your investment from Fire; Homeowners Insurance is designed to protect you in case of loss or damage to your property. The second most important purpose of property insurance is to provide liability protection.

Home insurance is mandatory if you got a mortgage/loan on the property . If you purchase your house with Cash it isn’t Mandatory but you should have it on your property . You don’t want something happening out of surprise not have anything covering .

It important to talk to an insurance agent early in the process . They will have questions about the property . Which will help you keep an eye out for in once you find a property

Clue Reports

If your Home owner You can get a free CLUE report for your home once a year from LexisNexis. You can request your CLUE report online https://www.lexisnexis.com/ or by calling (866) 312-8076. Here’s the catch for a home buyer: Only the owner of a property may access its CLUE report. So if your Home Buyer you can request to see if Seller has order their Clue Report

Also known as a Loss History Report, a CLUE Report is a record of insurance losses. Each month, participating homeowners and auto insurance companies report claims history information, which goes into a central database called the Comprehensive Loss Underwriting Exchange (CLUE). … CLUE Personal Property Report. You can also ask your Home insurance agent about Clue Report.

Other insurance Like Life insurance

Let me start by tell you all a story . I was in 2 -3 years . I was in the once one day and a lady came in speaking Spanish . That day their was no other agent in the office who spoke Spanish so they ask me who speaks Portuguese . So I brought her into my private office . I tried to help with my bad Spanish more like span-port. It when a person mixes Spanish with Portuguese. She tell me her husband has died and he was the Stronger Provider of the household . She only has 3-4 months of Saves and her housekeeping salary. To cover the mortgage and that she purchase the house that past year .

My First question who was your agent on the purchase to which she said an Top producer in office at then time . At this point my mind was say great he be back in the office in 20 minutes and I truly going to need his help . I was scared to give bad advice at this point . I never came a cross this yet . My second question what kind of life insurance Did your Husband have ? To which she replied nothing he didn’t have no life insurance .

At this point I was crying inside and she was crying outside . I start to run a Home price analysis report hoping that market had increase . To which it don’t , it had drop by 4% so I was now stuck to which the top producer came in and took over the conversation . She end up listing the house selling the house (short sale ) Post#13 has the meaning . The top producer gave her some is commission to help with get a rental place .

I never forgot that story because I always tell my buyer get Life insurance to the value of the house because if one of family member die you always have the mortgage coverage . The best idea is to pay off the house with Life insurance this way you only have Taxes and utilities to cover .

The second reason I never forget that experience. I wasn’t prepared for that customer that day . I learn after that day I will need to be prepared for all challenges that will be through at me . You can only grow from being finding solutions when others run .

I Forgot post my Gratitude challenge on my blog post because normally don’t right on the weekend . I have have been great with Facebook and my Journal

Thankful Day 3 Nieces and Nephews
Day 4 Thankful for pizza
Day 5 the unknown of the Day the surprise
Day 6 Friendship my friend have been great