Hazard Insurance – Give Insurance the Attention It Deserves In A Real Estate Purchase

Don’t Let Insurance Be the Forgotten Detail of  Your Real Estate Purchase

Hazard insurance (more commonly know as homeowners insurance) is often the forgotten detail in a real Leo Young Jr - State Insuranceestate transaction.  Usually, the buyer gives us the insurance agent’s name, we secure a declaration page and the insurance milestone is complete.  

For the loan to fund, the insurance policy must meet the minimum requirements of the lender.  I often wonder if the homeowner has met with the insurance agent to determine if the lender’s minimum requirements are enough to insure their particular needs.  My guess is the buyers don’t take much time meeting with insurance agents reviewing coverages, before the loan is closed.

In complex insurance states like Florida, flood and wind mitigation is serious business.  Lack of proper attention to the insurance requirements of a specific property can delay closings and cause undue stress on agents, buyers, and sellers.

Hurricanes, wind, flood – Florida has it all and you need an insurance expert.

I have had the distinct pleasure of working with Leo Young, Jr at State Insurance.  Leo is licensed in Florida and he is an insurance expert.  I can’t tell you how much I have learned about this important topic in the past few months alone.  

Insurance Cheat Sheet Mike Nelson-KR

Leo has developed a tool called “The Insurance Cheat Sheet”.  Trust me, it is an invaluable resource when agents, buyers, and sellers are involved in Florida real estate purchases.  He makes a lot of sense about a complicated topic.  Click on the sheet above for your copy.  

Leo and I will be posting a series on Florida real estate insurance over the next month or two.  Click on my YouTube channel below for our first installment.   I hope you find it useful.  We are also thinking about hosting a lunch and learn, in Tampa, towards the end of July.  Please drop us a note if you are interested.

As always, feel free to text, email, or call if you want to continue the dialogue.

Great success and Happy House Hunting!

Mike
720.213.6260 (voice & text)
mnelson@efficientlending.net
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Mike Nelson - efficientlending.net

 

 

 

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