Home Insurance
Homeowner's insurance is required when you finance a home. There are many companies and insurance agents or brokers to choose from. All have different rates and products to offer, so it's in your best interest to shop around for the right policy for you and your needs.
Things to consider when shopping for home insurance
- Be comfortable with your insurance agent — make sure you ask questions and understand the answers.
- Expect differences — each insurance company estimates different replacement costs and uses different underwriting guidelines. Policies should be comparable but won't necessarily be identical. Choose the one that best fits your needs.
- Compare deductibles in each policy.
- Most insurance companies offer discounts if you package your policies together (i.e. Auto, Homeowners, Life, etc.).
More insurance shopping tips
Information you need when getting an insurance quote:
- Property address
- Year built
- Number of square feet
- Number of bathrooms
- Number of fireplaces
- If there is a garage/car port
- If there is a deck/patio
If the home is over 30 years old, you will also need to know when the last updates were done to the electrical, heating, plumbing, and roof.
C.L.U.E. Property Loss History Report
A CLUE report shows any claims made on the property you are purchasing, as well as any renters or homeowner's insurance claims made by the buyers. The amount of claims made by a buyer or issued on the property may affect whether the home is insurable.
Washington and Oregon homebuyers are encouraged to request a CLUE report from the seller as soon as the offers are mutually accepted.
For more information contact your real estate or insurance agent.
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