Booming start to 2010 at Purves Insurance!
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 2/24/2010 9:48 AM
We started 2010 with new plan for our old goal. The goal: to earn a 20% capture rate with Lyon buyers. The plan: Making it quick and easy for you and your buyers to do business with us! The response to our plan has been overwhelming...
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I bought my house for $300,000 and need how much insurance?
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/21/2009 9:46 AM
In today’s real estate market (August 2009) many homes are selling for less than what it would cost to build in the first place. In fact, the price you paid for your home and the cost to re-build it after a fire is rarely the same. Remember a few years ago when there were multiple offers, bidding wars and prices seemed to be on a perpetual upward climb? In those days you could pay $200,000 more than it cost to build!
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What is this magical extra 50% coverage?
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/21/2009 9:45 AM
If your agent tells you that you can reduce the coverage because of the “extra 50%” endorsement, the warning sirens should start ringing in your ears. This is the unforgivable sin in the insurance business – lowering coverage to reduce cost. You’ll be happy about saving $100 in premium right up until your house burns down. So, what is this endorsement?
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Buying a home = death by fees. How do I reduce my insurance cost?
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/21/2009 9:43 AM
There are a lot of good ways to reduce your insurance costs one bad one. First, make sure you are using an agent who can shop multiple carriers. You might be surprised at the price variance between carriers for the same amount of coverage. An Independent Agent, like Purves & Associates, has relationships with many good carriers and can compare all of their rates.
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Is your Insurance Agent being held Captive?
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/21/2009 9:39 AM
If your agent is with State Farm, Farmers or Allstate the answer is YES! A “captive” agent is an agent who works for one carrier, like these guys. He or she sells only the policies offered by their one carrier. So if State Farm decides to be competitive in zip code 99999, then the captive agents in that area will be competitive. But if the carrier’s rates are not competitive there, well, you’re paying too much.
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I’m using a moving company – do I have coverage for my stuff?
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/21/2009 9:36 AM
This is a great question and has to be answered with a little policy jargon, but I’ll interpret as we go. Your home is insured for “all risks” subject to the exclusions in the policy, such as earthquake and flood. This is why you have to buy a flood policy separately, or add earthquake if you want it.
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I sold my house but I’m renting back for a month. Am I still covered in the house I no longer own?
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/21/2009 9:32 AM
The first thing you should do is call us. Each company has a slightly different way of handling this situation. Some insurance carriers will allow you to keep your current home insurance active until you move, even though the house has been sold. Your belongings and personal liability coverage will continue without change but there will be no coverage for the dwelling.
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Cleaning inspections!
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/18/2009 5:24 PM
I never liked it when I had cleaning inspections at my apartment. My roommates and I would spend hours cleaning, knowing that the manager would come around with her checklist, anxious to point out what we missed.
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Apartment Owners: Pools are great to increase rentals BUT be Protected!
Purves & Associates Insurance Agency Blog By Purves & Associates Insurance Agency on 8/9/2009 3:34 PM
Managing properties unfortunately doesn’t mean that you can manage all the activities of the tenants or even those who aren’t your tenants.
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