There is a big ‘shop local’ campaign designed to get us holiday consumers to pay attention to our locally owned businesses versus spending our time, attention and money with the big national retailers and big box stores.
Shopping locally means a lot for local businesses and communities. For the consumer it feels good to support neighbors and friends, and to experience that high-touch personal service that is synonymous with locally owned businesses.
Shopping locally holds true for homeowners insurance as well. As part of the mortgage approval process, homebuyers are required to obtain adequate homeowners insurance well in advance of the home closing. The cost of insurance can impact a borrower’s qualification, so getting insurance early in the process can ease some of the stress of mortgage approval. Working with local insurance providers can make this a much easier task. Local agents generally represent multiple insurance companies and can offer choices in policies and carriers. Local agencies are able to move quickly and adapt swiftly if needed. We have received many frustrated calls from clients waiting for insurance binders from national companies where they are dealing with a voice at the end of an 800 number. My local insurance contacts can provide a binder in a day. If a borrower needs to make changes to their coverage before the home closing, these can be managed in hours, not days or weeks when you work with a local provider.
Although often covered through the condo fee, many of today’s condo buyers are required to carry additional insurance by their lender. A condo buyer wants to be sure that their coverage will pick up and cover the gaps where the association’s insurance ends. In this case starting with the insurance agency that manages the association’s insurance can be the best course of action and generally those agencies are local because they understand the local properties, laws and regulations when it comes to insuring condo associations and their unit owners.
Shopping locally is good for our local economies. Choosing a local insurance provider can be good for your stress level. It is great to deal with a local person who you can meet with live or get on the phone with ease. For quick, efficient quality service with that personal touch, consider shopping locally year round for all of your real estate, mortgage, financial and insurance needs.
We’re here to help you and your buyers do more, learn more and grow more!