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If you are like most home owners...
Your home will make up a large percentage of your net worth. In essence it is, or will be, one of your most valuable assets. Your homeowners insurance policy will protect your home's value and by default your net worth should something happen to your property. Working with an agent that can represent multiple carriers while also maintaining a more in depth understanding of how your home is an asset in your overall financial plan can make a world of difference now and in the future.
How we do homeowners differently
We take a more financial planning approach to our insurance recommendations that are rooted in number and not in emotions. We understand that a client's home is more than just a place to live, it is a place that memories are made and families are formed. Often times the emotions associated with your home are the foundation for the over purchase of insurance. No insurance policy can replace your memories. For that reason we take a more quantitative approach to our insurance recommendations. For example:
According to the iii.org (Insurance Information Institute) for the years 2014-2018 5.64% of homeowners made a policy claim for an average amount of $13,814. On average over 90% of these claims were due to storm damage or flooding. These perils often have separate deductibles. So knowing that approx. 1 in 20 homeowners will have a claim, and of those claims over 90% will be do to a storm or flooding we can reasonably assume that the chance you will have any other claim is less 1/2%. So doesn't in make sense to increase your deductibles for everything not storm related? Increasing the deductible for all other perils can drastically reduce your overall premium. Freeing up more cash for savings.
So why don't all agents work like this?
The answer is a simple one. Insurance agents are financially motivated to sell higher premiums. Higher premiums equals higher commissions.
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