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Home Insurance in Massachusetts : Real Estate Advice

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  • Local Info29
  • Home Buying289
  • Home Selling73
  • Market Conditions11

Activity 27
Anne Walsh, Home Owner in Malden, MA
Sat Feb 28, 2015
Anne Walsh asked:
2014 I put a claim in for my 2nd fl bath with serious stains on ceiling....bad winter that year...and stains to the middle room 2nd fl....I agressively had many
bath remod...emails and…
0 votes 0 Answers Share Flag
JAMESFULLER, Home Buyer in Killeen, TX
Thu Jun 26, 2014
JAMESFULLER answered:
HOW MUCH HOMEOWERS INSURANCE COST ANNUALLY ON A HOME THAT COST 260000
1 vote 7 answers Share Flag
Joel Fanjoy, Other/Just Looking in Quincy, MA
Wed Jun 4, 2014
Joel Fanjoy asked:
Make sure your most prized possession is properly covered!
0 votes 0 Answers Share Flag
Kim Benedict, Real Estate Pro in Overland Park, KS
Sat Mar 1, 2014
Kim Benedict answered:
This is a very veg question as there are many questions that need to be answered and it is better you seek advise from a professional that does this for a living. We are agents selling homes not insurance, which you also need a state license for. ... more
0 votes 4 answers Share Flag
Emily Belast…, Home Buyer in Boston, MA
Tue Jan 21, 2014
Emily Belastock asked:
Interested in purchasing this condo, but I'm trying to assess whether it's feasible financially, so I'm wondering roughly what insurance would add to the cost.
0 votes 0 Answers Share Flag
Gary Smith, Real Estate Pro in Williamsburg, VA
Sun Dec 8, 2013
Gary Smith answered:
With all of the recent changes in Flood Insurance, an elevation certificate is a good idea to get an accurate quote for properties in flood zones. You would have to hire an engineering company to do this. But if you are financing the purchase, most if not all banks will require this. ... more
0 votes 8 answers Share Flag
Richard Shap…, Other/Just Looking in Framingham, MA
Tue Oct 29, 2013
Richard Shapiro answered:
Can the insurance industry descriminate a town like Wellesley. Sounds more likely that the clients insurance company did a property survey and didn't like the tree situation. I would assume it was triggered by the home price. Higher price might need an inspection especially with lots of custom interior work and high end appliances.

Get the ins agents name and number asd ask.
... more
1 vote 1 answer Share Flag
Roger Martin, Real Estate Pro in Framingham, MA
Thu Aug 8, 2013
Roger Martin answered:
Its good that your evaluating options when shopping for Home Insurance, but consider more of what you don't see verses what you do see for example "Exclusions". Many homeowners evaluate their options based on comparing what they do see as "Policy Coverage", placing them side by side. Although one policy may appear to be less expensive than the other it may have something to do with Policy Exclusion like Flood Insurance, Home-office related, Business related, Sewer back-up, Pool etc..

Ask the prospective insurance agent to list out for you the exclusion within the policy and you maybe surprised by the response. The Agent may forward you a packet containing exclusions, if your great with reading and understanding legal jargon fantastic. However if your uncomfortable with reviewing the exclusion within the policy you may wish to seek a legal review or work with public adjuster to make sure that you have an expert reviewing the complicated language of your insurance policy

Hope this was helpful
... more
0 votes 3 answers Share Flag
Christine No…, Real Estate Pro in Wellesley, MA
Sat Jul 6, 2013
Christine Norcross, MBA answered:
I would call your insurance agent. If you need a new reference for an insurance agent then call Bender insurance. Nancy Bender does a great job and can help you. You should be able to explain and get a policy for vacant home. Many people purchase a home and then do work prior to moving in so you are not the only one.

I had a smilar problem with a home I owned and I solved it by talking with my agent on what I could do to get it fixed. Ideally you don't want to have your insurance canceled. They usually send you notices and give you a heads up prior to cancelation.

Good luck.
... more
0 votes 6 answers Share Flag
Joseph Webst…,  in Salisbury Beach, MA
Tue May 28, 2013
Joseph Webster answered:
By: Merrimachomeinteriors.com

A fair and reasonable insurance premium for the replacement cost of real estate costing $170,000 would be right around $600/yr.
0 votes 5 answers Share Flag
Susan Condon,…, Real Estate Pro in Weymouth, MA
Tue Jun 26, 2012
Susan Condon, Realtor answered:
Hi, there are home owners insurance, title insurance and maybe Master Insurance policies needed on a duplex. Home buying can be complilcated. I would be happy to help you if you are not working with or planning on working with a particular Agent. Call me at 781-771-8457 or write back - you can find my full profile and beautiful new construction duplex and complex for sale in Hanson at GreatCedarCondo.com! $234,900 and $229,900 is a great price for new construction with granite, maple cabinets, bamboo floors with open floor plan on first floor! ... more
0 votes 2 answers Share Flag
Marie Souza…, Real Estate Pro in Centerville, MA
Wed Dec 14, 2011
Marie Souza Team answered:
Janice - Call your insurance company. They will explain your options for insurance coverage.
Bets of luck!
0 votes 1 answer Share Flag
Matt Sullivan, Real Estate Pro in Boston, MA
Sat Sep 10, 2011
Matt Sullivan answered:
Our cost to build or remodel is roughly $95/sq foot, with profit and overhead it averages about $120/sq foot. As Eric pointed out, it will depend on finishes but $125/sq foot is a practical average for Roslindale. ... more
0 votes 2 answers Share Flag
Peter Keane, Real Estate Pro in Plymouth, MA
Thu Aug 25, 2011
Peter Keane answered:
Hi Penny, additionally to what has been said, if you want to look for yourself first to get some idea, here is a link to the Town web site that has flood zone maps. Use the Index to find the location/map number you want. They do take a few minutes to load so have patience! ... get a cup of coffee while it loads.

http://www.plymouth-ma.gov/Public_Documents/PlymouthMA_Planning/Flood_Maps/Indexpage2
... more
0 votes 4 answers Share Flag
Ken Lambert,  in Exeter, NH
Thu Jan 6, 2011
Ken Lambert answered:
Hi Joni- As a builder, my suggestion would be that you track down the builder, and contact him/ them. Explain the problem and see if they will step up to the plate for you. They probably do not have do- but maybe they will, or cut you some slack, etc.
If they are rude or totally ignore you then maybe you file a small claim court paper against them. You can do that yourself for the cheap $75 filing fee or whatever it is. If they get that paper from the court, maybe they will change their minds...
Thanks, and good luck,
Ken L.
... more
1 vote 6 answers Share Flag
Irena,  in Newton, MA
Sun Jan 2, 2011
Irena answered:
Condo associations must insure the common elements, but are not responsible for individual units. http://www.fema.gov/plan/prevent/floodins/condo_time.shtm
If the lender finds that the insurance for your unit or building is not adequate you will have to pay for additional insurance. ... more
0 votes 5 answers Share Flag
Joanne Eckha…, Real Estate Pro in North Attleboro, MA
Fri Nov 19, 2010
Joanne Eckhardt answered:
Contact a local insurance company. So many factors are involved. Such things as is the property in a flood plain where flood insurance is required. How close is the nearest fire hydrant? What is the replacement value of the home. I would give 3 insurance companies a call to see. ... more
0 votes 6 answers Share Flag
Ethan Kramer,  in Northampton, MA
Mon Nov 15, 2010
Ethan Kramer answered:
Maybe that high in Longmeadow! Likely a bit lower in Northampton, depending on the property, coverage, pool, etc.
0 votes 2 answers Share Flag
Amy Mullen, Real Estate Pro in Shrewsbury, MA
Fri Oct 15, 2010
Amy Mullen answered:
Very true Andrew! I was just working on a listing for a major complex and had that on the brain!
0 votes 5 answers Share Flag
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