Maui Blog - Georgie Hunter R(S): Maui Home Buying Tip - start shopping for insurance NOW

Maui Home Buying Tip - start shopping for insurance NOW

humble building in Huelo Maui

Maui Home Buyers - Congratulations on finding a home that fits your needs and budget. but please don't wait until the last week of your transaction to start shopping for your homeowner's insurance.  Start shopping as soon as you open escrow. 

If you're getting a mortgage, the lender will require that you have adequate coverage.  Here in the islands, it can sometimes be challenging to find homeowner's insurance.  Some things that insurance companies might have issues with:

  • Is it an older home, with single wall construction?
  • Is the home off the grid?
  • If it's your second home, do you have a burglar alarm system?
  • Was the house built with adequate hurricane clips?
  • How far is the home from the nearest fire station?

Don't let lack of preparedness create a snag in your deal.  Be pro-active and have a smooth transaction so you can close on time. 

The State of Hawaii offers help by way of the Insurance Commissioner...see what he has to say.

Do you need the names of some insurers here on Maui?  Just give me a call or email and I can help.  If you like the look of this little hut - there's a parcel of vacant land for sale next door, where you can build your own home.... still waiting for the right buyer to make an offer.

Comment balloon 8 commentsGeorgie Hunter R(S) 58089 • June 21 2008 06:55PM

Comments

Good advice for buyers, Georgina.  Given the higher cost of insurance anywhere near water, it's always a good idea to start shopping around as soon as an offer has been accepted.  No sense in leaving it to the last minute and allowing it to become a reason for delay in a closing!

Posted by Lisa Heindel, New Orleans Real Estate Broker (Crescent City Living LLC) over 10 years ago

Good tips, Hunter. I try to get clients looking at insurance coverage as soon as escrow is opened.

Posted by Pete Jalbert, R(S) (The Maui Real Estate Team, Inc. ) over 10 years ago

Lisa - You probably have a lot of the same issues in your area - older homes, flooding, hurricanes.... you know the drill!

Pete - thanks for commenting... didn't see you at the festival...

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) over 10 years ago

I have to admit your profile picture is what got my attention, I love it! But, you are so right on this topic, this is one of the reasons I have an insurance agent at all my home buying seminars. People don't realize how much time and expense can be saved by knowing what to expect before 3 days before closing and being caught trying to find a insurance agent quickly.

Todd Clark, Helping Families Home - www.IFoundYourNewHome.com

Posted by Respect Realty LLC, Brokers - Oregon / SW Washington Real Estate (Respect Realty LLC) over 10 years ago

I always provide a form with insurance quoting information to my clients after the inspection. I just remember when I bought my home how rushed and confused the situation was, because there was so much else going on. Does the state government there have a department of insurance or section that oversees  firms in the state? The department here has a website that helps guide consumers through the process along with estimates from different firms. Such government agencies can be a great help to buyers.

Posted by Frank Schulte-Ladbeck (Frank Schulte-Ladbeck Professional Real Estate Inspections) over 10 years ago

Todd - you're a smart guy.

Frank - thanks for the nudge -  I have updated the post with a link to the Insurance Commissioner for the State of Hawaii.

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) over 10 years ago

Hi Georgina...Thanks for sending me a copy of the listing for that magnificant home that I am considering.

However, now that I have seen the one you have pictured here I am having second thoughts.  This may be more to my liking!

Of course it has nothing to do with price!!!

Kathleen

P.S.  We are out in the country so we always have to supply the distance to the fire station.

Posted by Kate Elim, Realtor 540-226-1964, Selling Homes & Land a (Dockside Realty) over 10 years ago

Kathleen - so are you going to fly out here and decide which one you want?  : )

Posted by Georgie Hunter R(S) 58089, Maui Real Estate sales and lifestyle info (Hawai'i Life Real Estate Brokers) over 10 years ago

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