ALL ABOUT HOMEOWNER’S INSURANCE
LEO DESSELLE OF PENNANT REAL ESTATE SITS DOWN WITH PHIL SCHMITT OF SCHMITT INSURANCE TO DISCUSS COMMON TOPICS RELATING TO HOMEOWNER’S INSURANCE.
1. WHAT MAKES SCHMITT INSURANCE DIFFERENT FROM OTHER COMPANIES?
I am an independent insurance agent so I am not tied to one carrier. A lot of the larger companies who take up a large share of the market can only sale that one product. There product may be the right fit for some people but it is not always the best for most. Being an independent agent allows me so shop a wide selection of carries and choose the one that fits best for each individual client.
2. WHAT ARE SOME OF THE OTHER THINGS THAT YOU DO THAT ENSURE YOU PROVIDE THE HIGHEST QUALITY SERVICE TO YOUR CLIENTS?
Virtually all insurance companies these day are inspecting the house. Some companies however, may not send an insurance inspector out to the home until after they have already closed on it. The problem with waiting until after the closing is if there is an issue with say the roof that client has already bought the home. If an insurance agency feels that the roof is too old or is damaged to a point that they feel it is too risky to insure then they will drop the coverage for that home and the home owner is left owning a home without home owner’s insurance. In order for them to get coverage, they will have to replace the roof. These are things that clients need and should know prior to buying a home and that is why we send out our inspectors before closing to ensure that the home and its major structural parts are insurable by the companies we write policies for.
3. IS THERE A TIME FRAME AFTER THE PURCHASE OF THE HOME THAT REPAIRS OR REPLACEMENTS CAN BE MADE TO THE HOME TO AVOID BEING DROPPED FROM THE INSURANCE POLICY?
Typically, there is a 30-45 day period in which any concerns addressed by the insurance inspector can be fixed before the policy is dropped. Most of the time the concerns are minor such as trimming back tree branches from the roof line but there are instances where major concerns are addressed. Being hit with a large ticket item right after purchasing a home can be a devastating burden on a new home owner. Again, that is why we do front line underwriting to avoid this type of surprises for the home owner after the purchase of the home. If an appraisal show questionable pictures or statements we are out there evaluating with our own eyes and informing our clients so that they can negotiate these issues prior to closing.
5. WHAT IS THE “BUNDLE” POLICY THAT YOU HEAR ADVERTISED? IS IT REALLY CHEAPER TO BUNDLE ALL OF YOUR POLICIES WITH ONE COMPANY?
That is more from the mainstream companies that try to sell you on bundling your home and auto insurance policies to save you money. It is very similar to the phone and internet companies trying to get you to “bundle” to save you money but in reality, it is just a way for them to get more business from you. Sometimes it can be a good deal for you and others just end up being a marketing ploy. What we do is shop each individual policy to get you the best rate for each item. The company that can give you the best rate and coverage for your homeowner’s insurance may not be the best company for your auto insurance. So we make sure you have the best policies to save you money rather than “bundling” your policies with one company. We ensure that you get the best value for your money. You still have only one person to call and I handle the different carriers.