Home » Real Estate » Buying

70 Ways For Home Buyers To Save Money When Buying A Home: Tip #10

Aug 17, 2007
Tip #10 in our series to save money when buying a house is: Use Your Own Insurance Agent.

Shop around for Homeowner's Insurance. Many times your real estate agent or your mortgage broker will tell you to use a certain insurance agent. This can be a big mistake. Even though it is illegal, many agents and mortgage companies get kickbacks from insurance companies when they send them clients.

And in many states, your agent or mortgage broker might also be an insurance agent. Like in Texas, if you have an insurance license, you can do mortgages without a separate mortgage license. You would think that in this case, your insurance would be the best deal, but in many cases it is not.

Do not just go with the insurance agent your real estate agent or mortgage broker refer you to. Check 3-4 different places to compare coverage and fees. Homeowner's Insurance is a major purchase. Make sure you use an agent that understands what you need and provides the best policy. Don't just go for the cheapest easier. Get 3-4 different quotes from different companies and then decide.

Getting your homeowner's policy from the same place you get your auto insurance might save you some money as well. My house and my car are with the same company and for that, I save 15% a year on both.

Many times, my mortgage clients come to me and do not know which insurance company to use. In that case, I give them 3 names of agents that I know are cheap and who give great service. My borrowers are then free to call all 3. Or I might call the 3 agents for them and get the quotes myself. Then the borrowers can choose whichever agent they want to go with.

I find this is a much better practice then just giving the name of one agent. I don't like my borrowers to feel any stress when they deal with me.

Even if you currently have a house an insurance agent, it is still wise to shop around. A few simple calls can save you hundreds of dollars a year.

And don't forget that in many states flood insurance is a separate policy. If you live in a state like Texas, you must have flood insurance. And your insurance agent can help you with that as well. But in many cases, the agent with the cheapest homeowner's insurance is not the one with the cheapest flood insurance. So beware.

Any time, you feel someone is steering you to use a particular company or person, you should be wary. When you buy a house, you will be paying big money. Make sure it goes to the company or person you trust and who has your best interest at heart.

Don't just choose an insurance agent because your real estate agent or mortgage lender recommend them. Shop around and save.
About the Author
Abby Kamadia, is a mortgage consultant, and real estate broker in Houston Texas. For the 69 other free articles on saving money when you buy a house visit Abby's Houston Texas Real Estate website.
Rating:
Please Rate:
(Average: Not rated)
Views: 138
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Accounting
    • Credit
    • Currency Trading
    • Debt Consolidation
    • Insurance
    • Investing
    • Leasing
    • Loans
    • Mortgage
    • Mutual Funds
    • Personal Finance
    • Stock Market
    • Structured Settlements
    • Taxes
    • Wealth Building
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources