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Home Insurance in San Jose : Real Estate Advice

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Activity 7
Thu Apr 18, 2013
Donald Stevens answered:
Most common in order. HO3, HO5, HO8, DP3, DP1. HO3 being the most comprehensive and the DP1 being the least coverage.
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Tue Aug 7, 2012
John Juarez answered:

So sorry about your misfortune. We are mostly real estate professionals in this forum. I assure you that we have no idea what you H06 policy covers in your specific situation. What you need is an answer from an insurance professional. I suggest you call the agent that you bought your policy from. ... more
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Fri May 25, 2012
Steve Quintana answered:
You must have an insurable interest in a property for the insurance company to pay your claim. If you have an insurable interest the claim will be paid. If you do not, be prepared to see you claim denied.

If you like this answer, please recommend me on my profile page.
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Fri May 25, 2012
Donald Stevens answered:
If the savings remained the same over many years it would take over 10 years of not having a claim for the lower premuim to bring you a savings. A claim in under 10 years will cost you more with the lower premuim.

Savings per year: $45 (if the savings amount and premuim stays the same)
Additional risk: $500 (that's the amount of risk you are taking by increasing your deductible.)

Ten years will save you $450. Even if you make a claim in the 10th year it is still the more expensive option by $50. After the 11th year you will start to save $45 a year.

The decision really depends on how much you can afford to pay and how much you are willing to pay to take that risk.
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Fri May 25, 2012
Donald Stevens answered:
Shop around. An educated consumer can make a much better decision. We write a lot of mobile homes and manufactured homes for that matter. Free quote, no obligation. We would love to help. ... more
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Mon Apr 16, 2012
Barbara Parrish answered:
Buying a home anywhere can seem overwhelming. My experience shows the best way is take it one step at a time.Think it through, decide whether you want the responsibility of a single family home that normally entails upkeep including yardwork, painting, fences. Many first ime buyers are used to renting where all those responsibilities and expenses are on somebody elses shoulders.A condominium or townhouse with monthly payments to a Homeowners Association takes care of all the exterior maintenance including the roof and any community amenities like pools, tennis courts, play areas for children. The next step is to have an honest talk with a reputable loan Officer to get pre-approved. There are many types of good loans available so be sure to discuss the pros and cons of each type. This should be done before you look at any homes. There is nothing worse than to fall in love with a house only to find it's out of your price range. That spoils you and every house you look at in your correct price range will be judged against your first "love"
Once you know you have your financing all lined up, you can start looking at homes. Call a Real Estate Broker that specializes in the area you are most interested in. Check out the areas to see how the commute to work would be and also the schools in the area. Each School District can provide you with info on how the schools scored.. Even if you don't have school age children the district will affect your resale value. Be prepared for a huge stack of papers to sign all thru the escrow period. Your Broker will go thru all the disclosures and inspection reports with you and if there are any unusual quirks help you decide if you can live with them. While you're doing all this paperwork, your Loan Officer will be getting all the final loan conditions ready so you can get your final loan documents. There are several more steps to finish up then the Deed will be recorded and you get your keys.
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Sun Jan 2, 2011
Terri Vellios answered:
Is your lender sure that property is in a flood zone? In our area a lot of homes are in "Potential Flood" zones, vs actual zones where the water tables warrant flood insurance. Have you and your agent reviewed the Natural Hazard Report?

The advice from other agents here is good, especially Jorge. I had purchased a house in Washington state which was in a flood zone and I paid $1,000 for a surveyor to give me an elevation certificate. Even though the area was zoned and several homes in the area were at flood level, this home was on piers and well above the flood table. So that $1,000 I spent saved me $1500 in insurance the first year!

You may also check the FEMA website to see if they have any additional information for you.
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