Purchasing a home comes with obvious costs: sale price, legal fees, moving costs and more — but what about insurance? More than being an afterthought, insurance should be a key component of a home sale or purchase but not just any policy will do! Many mortgage companies or lenders will require buyers to have an insurance policy in place before sales are finalized. This is great for peace of mind but it can push new homeowners to choose a policy that doesn’t necessary fit their needs.
From the point of view of a REALTOR® if a client feels rushed or considers themselves to be unprotected with their chosen policy, they will ultimately be unhappy and that just doesn’t work for us! An experienced insurance agent is able to create customized policies with specialized coverage areas to ensure that your unique property is covered and you can rest easy.
An agent-broker relationship is mutually beneficial for everyone involved: insurance brokers meet new clients and grow their networks, REALTORS® provide a better experience for their clients and owners/buyers have coverage that is a perfect fit for them. By working together, REALTORS® and brokers are able to provide the best possible deal for their clients and take the process from stressful to smooth.
Real estate agents have key insights into neighbourhoods and the issues that are common within the community. This insight helps clients understand the advantages of the area as well as the obstacles facing properties and the right questions to ask:
• Do I need specialized coverage for personal property that is valuable/collectible/antique?
• Is it recommended to have additional coverage for business inventory kept at home?
• Is my area prone to flooding or water damage and does that impact the cost of home insurance?
• What type of insurance do I need for a home business?
• Is it a good idea to invest in selling insurance?
• Do home insurance premiums increase in rental properties
• How does an insurance claim impact my premiums going forward?
• What does home insurance cover?
• And more…
A partnership between Winnipeg REALTORS® and insurance agents means that real estate experts are kept up to date with policy changes and shifting industry standards, meaning clients are always in The Know.
Things to Consider When Working With An Insurance Broker
Taking an amateur approach to finding the right policy can mean having to wade through a ton of options and insurance companies, which is confusing and time consuming. More than that, it is easy to book an appointment with an agent but this doesn’t necessarily mean that they are an expert in homeowners insurance. Anyone that is working in partnership with your REALTOR® will have a good reputation within the industry and will come along with plenty of benefits:
Time Savings: Buying a home can be a stressful experience, particularly when it comes to managing timelines. Moving into a new home means having to leave your current one and that means packing, changing addresses, organizing utility hookups and other bits and pieces. With all these things considered, shopping for insurance is just another thing that takes up time and energy. REALTORS® working with insurance agents can help to streamline the process, saving clients time to focus on other areas.
Cost Savings: Getting the best coverage is important but so is getting the best price. Between household bills, growing families, and additional living expenses, the cost of living is on a steady increase and every dollar counts. An experienced insurance broker can help clients achieve all of the desired coverage within a budget that works.
Expertise: Discussing your needs with an insurance broker is key to choosing the right policy for you. While homeowners are able to provide insight into what is necessary inside a home and relating to personal property, a REALTOR® can help to shed light on the needs of a home from a structural, condition and location perspective. Working with an expert can also help to take the guesswork out of technical terminology and the finer points of your policy.
Whether you are working with an independent agent or choosing home insurance companies your REALTOR® can help to connect clients with the right agent in Winnipeg to suit your needs. When you are in the market for a home insurance quote, don’t look to the yellow pages, just ask your REALTOR® instead!
For homeowners, buyers and sellers in the Winnipeg area who are looking to benefit from a successful team dynamic, Dino Stepic has got you covered. With a network of local brokers who are highly trained and experienced, clients can rest assured that they are getting the best coverage and peace of mind that they are protected. By working with local insurance experts like Meaghan Grey with the Richard McKenzie Insurance group, clients have access to a wide range of resources, experience and industry tools to make choosing their home insurance policy simple and enjoyable. Meagan is highly committed to her craft and dedicated to finding the most appropriate policies for homes throughout Winnipeg.
