Recent news in Florida and California have put a new focus on homeowners insurance.
The concerns have many home builders as well as home buyers asking the same questions. That’s why so many national, regional, and local home builders now play it smart by embedding home insurance with the purchase agreement process.
It’s more than a smart business move. A no-obligation quote signals to the buyer you’ve gone the extra mile to streamline a complex process, especially important to first-time buyers. It’s proactive and the kind of service touch many buyers now expect, from purchasing or renting a car to buying airline tickets.
Few understand that value more than Tom Kriby. The 20-year insurance veteran is vice president of client development and partnerships for Westwood Insurance Agency, a 71-year-old firm started by a home builder to serve new home builders. Today the agency works with 14 of the nation’s top 20 home builders, insuring more than 100,000 new homes a year.
“Home builders want to take as much as they can off the home buyer’s plate,” explains Kriby. “Especially now, with all that’s going on in the news, it makes sense to take the initiative and offer a simple and convenient insurance solution.”
Streamlining a required closing step is just one reason to consider an embedded home insurance solution. There are at least six others, including:
- Superior Experience. Your insurance partner is there to make you shine, making sure the home buyer is expertly taken care of. “Having an insurance partner onboard is extra peace of mind for builders. It’s our business to deliver a superior service experience throughout the life of the policy. That reflects well on the builder for many years to come,” Kriby says.
- Easy Onboarding. It’s surprisingly easy and straightforward to integrate homeowners insurance. “The builder’s lift is minimal,” reports Kriby. “We know how builders work. There are no manual requirements or administrative overhead. It’s basically computers talking to each other.”
- Home Buyer-Friendly Process. Kriby says about half of home buyers who get insurance through Westwood accept the quote when they sign the purchase agreement. The other half shop the quote in the weeks before closing, but ultimately return. “Most discover they had the best deal to begin with,” Kriby observes.
- $200 Savings. On average, home buyers can expect to save about $200 in annual premiums with Westwood, according to Kriby. “A lot of builders focus on the monthly payment. Homeowners insurance is becoming an increasingly large factor in that discussion. It’s more important than ever to receive top value.”
- It’s Not Just Florida and California. Weather-related events from tornados and hurricanes to wildfires, floods, and hail occur with increasing frequency and severity across the country. That puts stress on homeowners insurance cost, availability, and coverage. Home builders can ease concerns by offering home insurance upfront.
- 40+ Insurance Companies. Westwood offers insurance coverage in all 50 states. “Every household is different. If you need special coverage, we work with 40-plus carriers to choose the best coverage,” reports Kriby. “Our unique online platform makes it easy to tweak, change, or modify a policy within seconds. It’s one less thing to worry about.”
No one can change the weather. But there is something you can do to help safeguard closings and home buyers. Consider adding the insurance solution that quotes more than 50% of all new homes on the Builder 100 list.
Learn more on how an embedded homeowners insurance strategy helps deliver a better home buyer experience.
