Why are new Homes in Wenatchee cheap to insure?



At Wenatchee Insurance, we get this question a lot about new homes and the price of insurance. Central Washington residents love buying new construction homes in Quincy, Leavenworth, Lake Chelan, Entiat, and all around the countryside. There are definitely hot, new built homes in the area.

 It's great to move to a brand-new home and not have to worry about anything other than how to set up your internet service and have enough storage space. Typically, there is no painting, no repairs, no cleaning out the back corner of the basement, or other hassles that come with a pre-existing home purchase. One of the other things that people take comfort in when they purchase a new build is that the cost of insurance is incredibly cheap compared to older homes. We are often asked how this is possible. There are a bunch of factors at work. Let's take a closer look!



Number one on the list is going to be the fact that the house is shiny with the new house smell. Seems obvious right? Think of it from this perspective though. If a toilet is brand new, is it likely to have a problem that will flood the house? If the roof is new how likely is it going to leak? Home insurance companies realize this and rate accordingly.


The newer the roof the better you are!
Number two on the list is going to be related but is roof specific. One thing that we've seen with all of the wind activity in Central Washington over the last few years is that a brand new roof, that is properly installed is less likely to have been damaged with lost shingles. Make no mistake, your awesome roof will not stand up to a hundred-year storm but those don’t come around that often. And the insurance companies know this.

Number three on the list is simply that the companies want you as a customer. Seriously. Dirty insurance secret time. Brand new homes are often bought using a loan. Mortgages can require you to escrow the taxes and insurance. The companies realize that customers with a policy in escrow are much more likely to hang around as a customer longer since they don't directly realize how much the insurance premium will change over time. Guess what that means? They know you're going to hang around while those premiums increase over the first few years. They are using a 'intro rate' to build up a track record to ‘if it ain’t broke then don’t fix it model.’



What does this mean for you the homeowner? Enjoy the savings while you enjoying the new home smell. Wenatchee Insurance recommends working with an independent insurance agent to insure your home. They can help keep an eye on that premium and provide long-term options to help keep the price in check. Talk to us to see how these options can affect your new home purchase!



Topics: home insurance, Washington property insurance, independent insurance broker, Wenatchee, Sunnyslope, Quincy, Lake Chelan, Wenatchee Insurance


Location: 413 N Mission St, Wenatchee, WA 98801, USA

Comments

Post a Comment

Popular posts from this blog

Medicare Advantage Virtual Sales Seminar

Image
  For the 2021 year, Suzie wanted to provide customers with the opportunity to learn about Health Alliance Medicare Advantage Plans and any updates from the comfort of their home. This is a no obligation group meeting. Suzie asks that you use the Health Alliance link to confirm your reservation.     If you have complex or personal information that you would like to discuss or further questions then feel free to   schedule a one on one   with Suzie either in our office or online. Which ever you are most comfortable with. Medicare Annual Enrollment Period runs from October 15th through December 7th 2020.   This allows a whole group to get together online and hear and understand the updates.  How it works is as follows: 1. Select a date and fill out the form from Health Alliance. Date: Saturday October 17, 2020 at 1:00 PM Wednesday October 21, 2020 at 10:00 AM Saturday October 24, 2020 at 1:00 PM Wednesday October 28, 2020 at 10:00 AM Saturday October 31, 2020 at at 1:00 PM Wednesday Nove
Read more

Masks in Washington state including Spanish videos

Image
A few people noticed the distinct lack of materials concerning masks and wearing them. This is a problem since Washington state businesses were required to mask up July 7th . We just passed 3 million infected will little signs of slowing down. Yes, this means if you are in public doing business and can not social distance then you need to have a mask on. These materials are designed to be shared and help out. We do not know if it is biological or environmental. It is impacting the Latinx four times greater than the white population. Minorities in general are being impacted at a greater rate.   COVID 19 infects people of all ages.   If you don't die then it can have long term effects.  If you don't have a mask then feel free to stop by at Suzie Health Solutions and we have cloth masks to share until we run out. We are located at 1630 N Wenatchee Ave, Suite 18; Wenatchee, WA 98801. If you have questions about healthcare then feel free to ask. We educate with out chargi
Read more

How a health issue became political.

Image
Let's look at the beginning and problems: If you listen to one of the protest groups then you hear a lot of statements concerning the Constitutionality of Governor's Inslees stay at home orders. When you start look at the history of our country then you see that pandemics are nothing new. While  George Washington  Battled the British, he was also battling smallpox, not only did he use quarantines, he also used mandated vaccines. George  Washington wrote a letter to the President of Congress in 1787 , concerning the necessary central authority to "provide for the Interest and Safety of all"states.  Covid 19 didn't disappear in a miracle nor did it weaken " when we get into April " as Trump was early to downplay the pandemic. There are multiple accounts of the federal government taking needed supplies from states.  1.   2.    3.   4 .  while sending them to foreign countries like  China . A  whistleblower stepped forward with charges of cron
Read more