Avoiding Insurance Timing Traps


Insurance, while necessary, can be a nuisance during the closing process. To help your clients avoid any issues with insurance when closing, we recommend getting a quote during the inspection period — which will give you enough time to uncover any surprises that may be hiding early in process. These surprises could include flood zoning, protection class and more. Surprises like these can negatively impact premium, so the sooner they are uncovered, the better.

In addition, there are multiple reports that need to be run when obtaining a quote. These reports will show any claims history that may affect your client’s premium and will provide an accurate quote for the lender to use when determining the mortgage payments. Getting the quote early allows time for any changes that need to be made — rather than scrambling at the last minute before closing. Quotes are good for 30 days, so make sure your client doesn’t wait too long.

As a ReeceNichols agent, you have full access to the experts at our Family of Services, who can help you and your clients navigate the entire home buying and selling processes. HomeServices Insurance will work with you, your clients and the lender to provide all the necessary insurance documents to ensure a smooth, on-time closing.

Talk to a HomeServices Insurance agent in your area for more information.

Written by Melinda Kluck
Supervising Producer/Agent
HomeServices Insurance