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Home Insurance in Pennsylvania : Real Estate Advice

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  • Local Info16
  • Home Buying308
  • Home Selling57
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Activity 19
Thu Dec 6, 2012
Christopher Jordahl answered:
I would check out Residential Warranty Company. Great company and People. 717-561-4480
0 votes 1 answer Share Flag
Tue Jul 10, 2012
Donald Stevens answered:
Most insurance agents will determine the replacement cost for you when providing a quote. I would bet that if you contacted another agent for a quote they would give you a replacement cost estimate. If you would like to do one yourself I am aware of a website by Marshall & Swift http://www.accucoverage.com/ where you can estimate the replacement cost for yourself for around $8. We are not affiliated with this company but we do use them with some of our companies to provide replacement cost policies for our insured's.


Donald Stevens
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Thu May 24, 2012
William Morrow answered:
Why is the property vacant? That's the first question any insurance agent will want to know. If it isa temporary situation such as a tenant vancancy or the like you should not have an issue finding insurance. If it is vancant because you moved out and are looking for a buyer there may be less excitment on the insurance carriers side to write the coverage as they probably have little or no chance of continued business on that property. If you have moved to another residence i would put pressure on my current carrier for extended coverage for the vancant property as well. They do have an incentive to keeo you as a customer then. Something that could be a problem is if there is a mortgage on the currently vacant property. The terms of the mortgage dictate that you must carry insurance sufficent to replacement value of the improvements. Good Luck. ... more
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Fri Aug 26, 2011
Don Tepper answered:
Check with your insurance company.

However, my experience has been that a landlord's policy is less expensive than a homeowner's policy. For instance, in a landlord's policy, you're not insuring the contents. That's the responsibility of the renter.

On the other hand, I'd also suggest you look into an umbrella liability policy. It'll cover your rental property as well as other things you insure (primary residence, car, etc.) The cost probably will be $300 or so for maybe $2 million worth of coverage. It's well worth the protection. Again, check with your insurance company or agent.

Hope that helps.
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Thu Mar 24, 2011
Anna M Brocco answered:
Wed Nov 2, 2011
Dallas Texas answered:
Against professional code of ethics for a Realtor render an opinion on behalf of another profession



Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
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Mon Jun 7, 2010
Brian Luce answered:
Hi Mike,

I'm a resident of New Hope. Welcome.

Market conditions in any given area may impact the amount it will cost to rebuild your home if you experience a loss. Replacement cost estimates are influenced by supply of l labor, demand for labor, and the cost of construction materials. Labor (in some cases) is an area that when rebuilding can "help" exceed the current purchase price of a home.

For example, say you purchase a brick home (all 4 sides). Labor to reconstruct a full brick home today is one item that could cause a replacement value to be higher than a purchase price. The labor rates are quite a bit higher today so as opposed to a "Brick Face" or Brick Front or Brick "laminate, doing full brick is one of those items that can really increase the price of a rebuild.

(that's just one item that can increase the price but you get the idea).

In most cases rebuild costs are pretty close. Depending on options and finishes, you can use a range between $125 - 175 per square foot depening on how "custom" the rebuild would be.

Generally, I would say the replacement cost on a $530K home today should fall in the low to mid $400K mark as an average. (That's just an opinion from experience - I also have two friends that are insurance underwriters and loss specialists.)

Hope that helps a little bit.

Brian Luce ABR, SRS, CMRS
Weidel Realtors - Doylestown
215-348-5600
BLuce@weidel.com
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Tue Apr 27, 2010
Quang Ho answered:
Yes, you definitely need to get it before settlement. In the state of PA, there is a contingency property insurance clause that you can choose to exercise within the time frame (10 to 15 days after execution day or depends on how you choose those time frame) to obtain home owner insurance. You should get a quote from an insurance company and see whether you like the price that you pay or not. Sometimes if the property is not insurable due to existing insurance claims or pending litigation from the current owner or previous owners to the insurance company, the insurance company that you are choosing may not want to insure the property you are purchasing. At this time, you can notify the seller in writing that you don't want to or can't buy this house because you can't obtain home owner insurance for it. If you don't exercise this clause prudently within allotted time frame, you might be on the hook for it. Sometimes, if the property is in the flood zone, you need to be aware that you may have to buy flood insurance, quite expensive, in addition to the home owner insurance. Knowing what you may have to pay out, you can save yourself whole lot troubles.
I am not sure where you are in this process, but if I were you, I will get a quote from the insurance company asap and don't pay them in advance, just tell the insurance agent you will pay at time of settlement.
Best of luck to you.
... more
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Tue Mar 23, 2010
Anna M Brocco answered:
Yes, whenever any mortgage is involved, regardless FHA or not, home owner's insurance is always needed--contact a few insurance companies, get estimates and choose the product that best suits your need. ... more
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Thu Mar 18, 2010
Anne Rubin answered:
I have never heard of this happening at all. Sometimes insurance companies want inspections ore certifications for the roof and information on the systems, but I have never had the experience of an insurance company requiring an inspection. If you would like information on other insurance companies, please feel free to contact me. ... more
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Mon Feb 20, 2012
Linda Ginex answered:
Try talking to an insurance agent in the area.
0 votes 9 answers Share Flag
Tue Oct 6, 2009
Patty Allen asked:
has poor credit due to job loss for 5 years and family sickness in SC. He's back to work but credit checks has him at 12% interest on purchases (HAD to get a car for work with engi...
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Tue Oct 6, 2009
Patty Allen asked:
the mills closed in the 1980's. About 1/2 or 1/3 homes & businesses have been boarded up with mostly elderly staying and their children moving to other states for jobs. It'...
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Mon Sep 14, 2009
John Badalamenti answered:
Roti: Insurance in Pennsylvania is regulated by the Pennsylvania Insurance Department.

The following is a PDF link that offer a guide the Homeowner's Insurance published by the PID:

http://www.ins.state.pa.us/ins/lib/ins/consumer/brochures/Home_2005.pdf

This may answer some of your questions. I hope you find it helpful!

John (John B.) Badalamenti, CRS, ABR, SRES
Associate Broker
Certified Residential Specialist/Relocation Specialist
Prudential Fox & Roach, REALTORS – Wayne
610-688-4310 Office
610-341-4832 Direct
johnb@subphillyhomes.com Email
www.MainLineHomeZone.com Web 1
www.SubPhillyhomes.com Web 2
... more
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Wed Jul 29, 2009
Bill Eckler answered:
Nina,

The real cost per square foot is an elusive number that can provide you with a wide variety of information. There are a number pf factors the enter the equasion including both the amount of upgrades and quality of upgrades, landscaping and its extent, etc.

This number can cover a very wide range and would probably be best addressed with your specific criteria in mind.

Good luck
The Eckler Team
... more
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Wed Nov 2, 2011
Sean Dawes answered:
If you are looking for what a unit in Creekview crossing should go for let me know. I know that site well.
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Sun Apr 26, 2009
Nancy Danvers answered:
about 965.34 per month. it's too pricey for me but it might not be for you. it's a very nice place... i hope your satisfied!
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Thu Jun 4, 2009
Vicky Chrisner answered:
are you having difficulty? you should be able to google homeowner insurance and get several quotes on line. alternatively, call the company that does your car insurance - or knock on the door of a neighbor and find out who they have. good luck ... more
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