Homeowners Insurance

Tips for Buying a Home in a Down Market

Monday, October 21, 2013

Buying a home in a down market could be one of the best decisions you ever make as a homebuyer. The real estate market fluctuates a lot these days which is why buying a home on the cheap could benefit you later on. Most people are reluctant to buy homes in a down market as they are afraid that prices may fall even further. But if you are willing to take the risk then you could buy a home under its original value and save a lot of money. Here are a few tips to help you buy a home in a down market.   

Research Thoroughly

In order to buy a home successfully in a down market you will first need to research thoroughly. Start by deciding a location where you want to buy a home. You should consult your family members as well when making this decision. Go and have a look at the neighborhood and find out as much as you can about the area. You should also take advice from your realtor about property prices in the area and then proceed accordingly.

Motivated Sellers

Every home buyer should be aware of the seller’s motivation. Some people are in a hurry to sell their homes and these are the sort of people that you have to look for. If a seller is in a hurry to sell the property you will have bargaining power on your side. You can negotiate a better price in such circumstances.

Be Patient

It is often said that patience is a virtue and when it comes to buying property in a down market this statement is certainly true. As a home buyer in a down market you should take your time because it is likely that a lot of people will be selling. You will have the upper hand so analyze all the available options before making a decision.       



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Can Insurance Policies Be Combined?

Tuesday, June 18, 2013

Whether it is home, auto, medical or life, most of us have an insurance policy. Many of us even have multiple insurance policies, even from the same insurance provider. Did you know that insurance policies can be combined? Did you know that there are multiple benefits to combining your insurance policy?

Can you combine them?

More often than not, your insurance policies can be combined. However, depending on your insurance provider, the terms of your combined policy may be different. In most cases, similar types of policies are usually combined, for example: health with life insurance or property with auto insurance. But why combine them?

Why combine Insurance Policies?

The biggest reason why people combine their insurance policies is to pay reduced premiums. When you pay more overall, you receive discounts to both insurance policies. In essence, you are paying less for both policies. In fact, many combined policies may offer discounts up to 45%.

People also choose to combine their insurance policies because they receive various benefits. These benefits are usually incentives that give customers the ‘push’ they need to combine their insurance policies.

Finally, people choose to combine their insurance policies because it makes policy management and payment easier. When their premiums are due, it makes it easier to simply pay one premium rather than two. This is particularly important if you have multiple policies from different providers.

Evidently, there are many benefits to combining your insurance policies. Most importantly though is the fact that you can, quite easily, combine your insurance policies. Combining your insurance policies is not only possible, it is highly recommended. When you combine your insurance policies, you receive a significant discount on the total premium you pay. Additionally, you also receive various incentives to aid your decision making process.


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Premier Homeowners Insurance Video Web Ad

Tuesday, April 30, 2013

Premier Homeowners Insurance is the online division of Moran Property & Casualty, located in Ponte Vedra Beach, Florida.  Ponte Vedra is located out at the beaches in Jacksonville, Fl.  This is where you will find our independent insurance agents working on solutions for customers locally and through out the Sunshine State.  We serve customers in areas like Miami, Tampa, Orlando, Jacksonville, and everywhere else in the state a consumer is looking to maximize coverage, while obtaining the best possible rate.  We offer all of the top A rated carriers you would want to insure your home, while offering outstanding support and personal service.  Check out Premier's newest home insurance video Web ad below:


If you are looking for a new insurance policy in Florida please give us a call today at 1-800-554-9142.  Working with one of the experts at Premier Homeowners Insurance will help alleviate an issues or fears you might have in finding the best coverage for your home.  It doesn't matter whether you are a new homeowners or just looking for a better rate on an existing policy, we recommend giving us a call so we can complete a free analysis of your current situation.  


by Morgan Moran


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Hurricane Sandy Premiums

Saturday, November 17, 2012

One of the largest storms ever to hit the United States started as Tropical Storm Sandy, but ended up turning into a devastating Hurricane that wreaked havoc on many homeowners located in Maryland, New Jersey and New York.  Many of the homeowner’s insurance companies doing business in these areas will be out serious claims dollars in the months ahead.   Do you think some of these carriers will go out of business?  What are the odds policyholders in these states will see dramatic premium increases?

Most insurance carriers do not just raise home insurance premiums due to one large catastrophe, but since this was such a large storm, with damages in the $20 billion range, you can be sure these carriers will have to increase premiums to stay in business.  Everyone across America feels compassion for the homeowners in these areas.   We at www.PremierHomeownersInsurance.com pray for the devastated areas to have a speedy recovery!  Let us know your thoughts in how everyone can help the victims of Hurricane Sandy today!

Read More Here:  http://www.webwire.com/ViewPressRel.asp?aId=164872


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Insurance Quotes Online

Tuesday, November 6, 2012

Homeowners insurance quotes online are a fact of commercial life. Any adult who is paying attention knows that getting free, relatively detailed insurance quotes online—and comparing them with others gotten online—is a wonderful and relatively recent addition to a consumer’s toolbag.

Quick internet access saves time. Think how many minutes are consumed looking up an insurance agent, calling and making an appointment, climbing in the car to keep the appointment, and then meeting and discussing possible premium options. Now think how long it takes to enter the name of an insurer in an internet search engine, get a quote from the company, and look up the address of a local independent or company agent to talk about the quote. No comparison.

The online quote also saves a homeowner from embarrassment. Industry jargon can be confusing. When an agent—even one trying his best not to confuse—drops in elementary terms that nonetheless mean nothing to a homeowner who is reluctant to ask for an explanation, a breakdown in communication has begun. Better that a property owner gets preliminary homeowners insurance quotes online and tackles the jargon later when he is refining the quotes.

Perhaps the biggest boon to home buyers is the ability to quickly compare online quotes. The key to doing so effectively is to be certain that the same coverage is sought from each insurer so that the comparison is apples and apples. Independent agents are ready to help with policy comparisons, perhaps after a rough determination of value is made by an insurance customer.

Agents are vital in explaining the vital details of a policy. Online quotes are based on good, general information, but every house and every homeowner are a different combination. All of the possible variables in a policy affect the final premium and a knowledgeable agent becomes a homeowner’s best friend in the refinement of a quote.

Homeowners insurance quotes online are a marvelous way to explore insurance policies and get a feel for what is out there. Only a foolish homeownerwould buy a policy with no more information than is given in such a quote. For the rest, insurance agents are available to turn the quote into a perfect policy option.


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Hurricane Sandy Home Insurance Claims

Wednesday, October 31, 2012

Hurricane Sandy is causing devastation for the majority of homeowners across the eastern seaboard.  Many people in New York, Massachusetts and Connecticut will have to negotiate claims with home insurance carriers.  We will see wind and water damage that will exceed $15 billion.  Was your house hit by Hurricane Sandy?

Homeowners' insurance companies have gotten tougher as weather is almost certainly more cataclysmic. They've raised rates, carved out some coverage and tucked in new wind and hurricane exclusions and deductibles.

Homeowners have to have to participate in the game right if he or she need claims paid quickly and thoroughly. Start early - some tips about what in order to complete now and soon after.

If you your flashlights loaded with fresh batteries along with your water bottles in a very row, dig out your homeowner's insurance policy and see type coverage you actually have. You could potentially be unpleasantly surprised: After Hurricane Irene hit in August 2011, more insurers tucked hefty wind and hurricane deductibles regularly in their policies. They run 2 percent to 5 percent that belong to the insured property value of your private home, says Charles Hahn, an insurance coverage agent in Little Falls, New Jersey , where "we're known for flooding a lot."

Needless to say many insurers have "anti-concurrent causation clauses" in policies now that say people damage from multiple causes, say wind and flooding, where wind is covered but flooding is not actually - they won't cover some items.

A new flood insurance law passed come July 1st requires insurers which you may use federal data to allocate the actual expense if a home is totally destroyed by flooding and wind damage.

Homeowners who live close to the shoreline do most likely to have federal flood insurance; their mortgage lenders require it. But Hahn says he saw an uptick in inland purchasers after Irene. Nationally, some 5.65 million federal flood insurance policies were put in place when they get home of 2011 - that represents a 17 percent increase over the previous year, in keeping with data coming from the Insurance Information Institute.

That's good, because a great deal of rain fell during Irene that basements flooded in neighborhoods a long way away from rivers and streams. The same identical - or worse - is expected now.

In case you do not need flood insurance, you may have extra protection from water damage and mold as well as insurance policy covers failure of your sump pump, says Richard Cohen, a property loss consultant at Clarke & Cohen in Bala-Cynwyd, Pennsylvania. This coverage is generally included a number of high-end homeowners' policies, although other policies may offer limited coverage.

One silver lining: More often than not water rises really at high point locally it floods car or truck, more than likely covered because of your comprehensive auto policy, reports the insurance coverage Information Institute.


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Best homeowners insurance providers

Wednesday, October 24, 2012

The best homeowners insurance provider is a matter of, well, opinion. Facts can be assembled to demonstrate superior service or rates or coverage. However, in the end, an insurance customer often lauds one company over another because of immeasurable attributes like “friendliness” and “caring.” Neither of those qualities is measurable on a rational scale, yet they honestly reflect how a homeowner has ultimately evaluated his insurance provider.

So “best” is subjective. Yet every homeowners insurance company can be judged according to industry criteria that are purely objective. Pricing is one such criterion. The bottom line is the bottom line and every homeowner looks there first in evaluating an insurance policy quote. A company striving to be the best homeowners insurance provider in an area must be price competitive. The price of a policy can be a little higher than the competitors’ prices, but only if there is perceived extra value in a policy.

The “best” company also will have its act together in providing homeowners billing and processing that is easily accessible, easily understood, and straight forward in its intent. Upsetting small print won’t be found in the policy documents of an insurance provider wanting to be deemed the best. By the same token, a company representative should be easily reached and the company operated transparently. An insurer that operates mysteriously does not inspire confidence and probably will not be forthcoming when disaster strikes a home.

The variety of coverages offered by a company will add to its luster. If choices are few, a provider does not really seem to be in business to benefit homeowners. When customer policies are so rigid as to be intimidating, a company has little hope of winning and keeping the loyalty of homeowners. Only so much flexibility is possible in any financial transaction, but circumstances sometimes require a little more give than take and a “best” company is structured to do just that.

What the best homeowners insurance provider covets is high placement in the category of “Best Overall Satisfaction.” This category of evaluation contains both subjective and objective criteria. It summarizes what customers have concluded about a company—that is, what they think of a company, how well they perceive a company works with them, how they feel—yes, feel—about a company. Good feelings make for good customers, and the best homeowners insurance providers know the feeling.



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Home insurance rates can vary

Thursday, October 18, 2012

Home insurance rates are subjectively determined. They are not neatly listed in a book, each ready to be pulled out and applied to a home. That is the first rule that a homeowner must understand when he is looking for a suitable rate on a policy to protect his home: His rate might differ substantially from his neighbor’s.

Home insurance rates vary greatly from state to state. Straight across the country, North Carolina’s average 12-month home insurance rate is $654, Oklahoma’s is $1,730, and California’s is $803, according to homeinsurance.com. The average premium is $853. The variation is wide and based somewhat on regional factors, including weather hazards, fire protection standards, and construction material and costs. Identical homes in different parts of the country will not have identical rates, just as the homes won’t have identical selling prices.

However, one needn’t travel across the country to find $600 annual home insurance rates and $800 annual rates. The varying rates can be in as close proximity as literally next door. That’s because important distinctions can be made between two houses in a neighborhood. One might be older than the other, and the age of a home is a consideration for an insurer. One might have a new roof and another one a potentially leaky one; insurers are concerned about what that means for a house structure and its contents.

Other variables includes whether the occupants of a home smoke—discarded cigarettes have started many a home blaze—and whether the house is constructed of brick or wood. Obviously, brick is less flammable. How close is the nearest fire department station? A crucial few minutes in response time can mean the difference between a partial loss and a total one. Also in the mix of a rate evaluation are a homeowner’s claims history and credit score.

Home insurance rates are a composite of many factors, in other words, some of which are evident, some of which are not. A larger house is going to have a more expensive rate than a smaller one, it stands to reason, but a larger home constructed of brick on a street a block from a fire station might have a lower rate than a somewhat smaller house located in a more perilous part of town. Buying a house and wondering what home insurance rate it might carry? Look at the house as an insurer does, and the rate will become self-evident.



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Force-Placed Insurance

Friday, October 5, 2012

MIAMI, FLORIDA - Lenders who allow their home insurance to lapse will often get stuck with a bill for much more expensive coverage, courtesy of their mortgage holders.

Called force-placed or lender-placed insurance, these policies protect banks’ interests when borrowers fail to follow through on the standard loan requirement that they maintain continuous coverage on their home.

The use of these policies soared during the recession, as homeowners who fell behind on their mortgages effectively stopped paying their insurance as well, since premiums are typically included in the monthly payment. From 2006 to 2011, direct earned premiums for lender-placed insurance more than tripled, to $3.1 billion from $954 million, according to the Insurance Information Institute. “It’s a privately run, high-risk market of last resort,” said Robert P. Hartwig, the institute’s president.

But state and federal regulators have begun to question whether mortgage servicers have been too quick to slap these high-priced policies into place, possibly because of financial incentives. At hearings held this spring by the New York State Department of Financial Services, a representative for American Home Mortgage Servicing acknowledged that a company affiliate receives 15 percent commissions from QBE First, a major provider of lender-placed insurance, for policies placed on its loans.

Because the premiums for lender-placed policies are 2 to 10 times as expensive as standard homeowner policies, these policies impose a considerable burden on already distressed homeowners, said Alexis, a research and policy analyst for New York’s Neighborhood Economic Development Advocacy Project. In some cases, the cost more or less ensures foreclosure for a household on the brink; it can also hurt a borrower’s chances for a loan modification.

Fannie Mae has adopted new mortgage servicer guidelines aimed at reducing the likelihood that borrowers will get stuck with a high-priced policy unnecessarily. The guidelines require the servicer to keep the borrower’s own homeowner policy in force if at all possible, even if that means advancing money to cover the past-due premium.

The servicer is required to contact the borrower by letter at least twice before putting a lender policy in place. Such disclosures must explain that lender-placed insurance costs more, and that it covers only the structure of a house, not its contents.

Once a lender policy is in place, homeowners can still buy their own insurance and ask to have the lender policy canceled. Fannie Mae wants servicers to refund the premiums on canceled policies within 15 days of receiving evidence of other coverage.

The Consumer Financial Protection Bureau proposed similar guidelines, as part of the mortgage servicer rules it is writing to implement the Dodd-Frank Act.

“The new rules would require the servicer to continue advancing the money to keep the homeowner’s policy in effect rather than letting it lapse, so the forced-place insurance would never even come up,” said Andrew Pizor, a staff attorney at the National Consumer Law Center.

Consumer advocates like Mr. Pizor are concerned that, under the bureau’s proposal, the requirement does not apply if a borrower doesn’t have an escrow account. The bureau is accepting public comment on the rules through Oct. 9; comments may be registered on its Web site.

Mr. Hartwig of the insurance institute defends the rates as a reflection of the risk of insuring the homes on a lender’s books in bulk, “sight unseen, irrespective of their condition.”

But Birny Birnbaum, a former insurance regulator and the executive director of the Center for Economic Justice in Texas, says losses on lender-placed policies amount to less than on standard policies. “The responsibility comes down to regulators to do their job and say rates need to be reasonable and not excessive,” he said.


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Rates Might Go Up In NC

Wednesday, October 3, 2012

RALEIGH, NC – It looks like the North Carolina Rate Bureau released a new proposal today that would issue increases for home insurance policyholders statewide.

According to this information, the proposed increase in home insurance premiums would increase on average close to 18%.  This number was averaged for the majority of the intra-coastal areas in NC.  If you live in a housing community near the ocean, your increase will be much higher. 

If you live in a county like Pender or Brunswick, get ready for the sticker shock of your premium increase.  The majority of homeowners in these counties will get over a 30 percent increase in rates . 

Mr. Tyler Newman is with the Business Alliance for a Sound Economy.   “The perception is that we have more hurricanes than the interior part of the state but that’s not true,” said Newman.  “The hurricanes, the storms that we have, don’t stop at I-95, they move all the way through the state.”

The Department of Insurance in NC will announce a final determination of this rate increase within the next couple of weeks.  Many individuals have been putting up a fight against the premium increases and the public will have the opportunity to comment on this issue to the state DOI.

Skyrocketing increases of home insurance premiums all across the United States has many families uneasy as to what the future might hold.  From North Carolina, to Florida and back to California, rates keep going up.  What can we do to slow this down in America?


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