Every agent, at some point or another, has dealt with a house that's tough to sell. When potential buyers aren't biting, then you've got to find a way to move that property. Pointing out a home's insurance-friendly features might be one way to help you close the deal.
Home insurance often can be an afterthought for many home buyers. Usually things like a home's location, size and condition stick in the forefront of a buyer's mind. But when it comes time to sign on the dotted line, your buyer will inevitably have to face the reality of home insurance costs.
In some cases, insurance risks can drive up the overall cost of a home. Features like pools or outdated, damaged roofs can result in higher premiums. Since many lenders roll home insurance premiums into monthly mortgage payments, that can result in a stumbling block for some buyers. On the other hand, some home features can save buyers a lot of money in the long run because they can result in lower home insurance premiums. Learning about such savings could be just what a hesitant buyer needs to hear.
Knowing these insurance-friendly features and being able to sell them can help you sell houses:
New homes
New homesor homes that have been built within the last 10 years are always seen as a big plus to home insurance providers. New home features such as modern plumbing and wiring, as well as a sturdy 'young' roof, lessen the likelihood of a homeowner filing a claim. Buyers of newer homes can often get discounts of up to 20% on their home insurance policies.
Location
Location isn't just important to your buyer, it's also important to insurance carriers. How close is the home to a fire department? How far away is it from a risky flood plain? These are a few things you'll want to point out to a buyer because they will lower the cost of insurance.
Green homes
Green homes aren't just earth friendly, they also can be insurance friendly. Some insurance providers offer discounts for LEED-certified homes because they are considered to be safer and more sustainable than traditional homes. It's not bad to point out that while your buyer is reducing his or her carbon footprint, he or she also could qualify for lower home insurance premium.
Home security
Security systems are an added bonus in any home because make the home a safer environment. Items such as burglar alarms, deadbolt locks and smoke alarms can lessen the likelihood that your home and family will suffer a damaging claim. Another plus? These security items can earn you discounts of up to 10% or more on your home insurance.
Home insurance may not be your first thought when trying to close a sale, but savings on it could be just enough to get your prospective to budge. Do your research ahead of time and know which of the home's feature may give your buyer the most savings, whether through discounts or lower premiums. Be sure to point out that an insurance-friendly home can really pay off big for your buyer in the long run.
Carrie Van Brunt-Wiley is the Community Manager of the HomeownersInsurance.com blog.
