What to Expect When Shopping for Home Insurance with Grimes
Most people don’t think about home insurance until a lender tells them they need it. Suddenly, you’re juggling a closing date, a mortgage application, moving logistics, and finding the right home insurance option all at one time.
It’s overwhelming to say the least. If you’ve fallen victim to home insurance stress, rest assured that you’re not the only one.
But it doesn’t have to stay that way. At Grimes Insurance Agency, we have guided Lubbock homeowners through this process since 1948, step by step.
By the end of this article, you will know exactly what to expect when buying a home insurance policy with Grimes. We will walk you through each part of the process, from the first conversation to the moment your policy is effective.
What Are the Steps to the Home Insurance Shopping Process?
Step 1: Starting the Conversation With Grimes
Most homeowners come to us at one of two points: right after they have put an offer in on a home, or once they already have a contract and are waiting on a closing date. Homeowners might also be working with a lender or realtor to help them find the right home coverage.
Wherever you are in the process, we work with your timeline, not against it. Our team works with multiple local lenders and realtors, making Grimes Insurance Agency a trusted resource in evaluating home insurance.
You can also start a quote at any time by completing the online quote form found on our website.
Step 2: Grimes Gathers Important Information
Getting accurate quotes means getting accurate information. To help you find the best coverage, we’ll ask you for varying information about:
You: |
Your Home: |
|
Full name |
Property address |
|
Date of birth |
House and construction type |
|
Gender |
Roof age and condition |
| Marital status |
Square footage |
| Driver’s license number |
Occupancy details |
| Basic contact information |
While you’ll provide most of this information in your quote form, your Grimes agent might also ask you to share additional information about your home’s amenities and features.
Do you have a pool? A shed? Pets? Maybe even chickens? If so, it’s important information to disclose.
Why is this information important?
Insurance premiums, coverages, and quote options are all influenced by the information you provide. Multiple factors can affect the policy options available to you.
For example, let’s say you do have 10 chickens that roam your property. Or maybe, you’ve built a backyard guesthouse for when your in-laws visit. Excluding such information from your quote risks your policy being denied. Some carriers have specific rules regarding amenities and acreage, which makes asking specific questions all the more important.
Now, this doesn’t necessarily mean you need to tear down the shed and rehome the chickens. But it does mean you should share the information with your agent so that you can discuss your options. There are additional coverage options that may help you protect your amenities, animals, and acreage, without risking your homeowner’s policy.
Remember, we ask because it matters, and we would rather catch it early than have an insurance carrier decline later in the process.
Step 3: Grimes Shops Multiple Insurance Providers
This is where we put our detective skills to use.
Once we have your information, we begin comparing quotes from the multiple insurance carriers Grimes Insurance represents.
As an independent insurance agency, we are not limited to a single company. While your homeowners policy will come from a specific insurance carrier (like Allstate or Liberty Mutual), we help you look for the best options. We can review multiple carriers at once to see which are willing to insure your home, the coverages they offer, and how their premiums compare.
This is an important step, because not many homeowners understand their options before buying.
Curious how independent agents differ from other types of agencies? Read more about How Independent Agencies Work.
During this time, we are also looking for all available discounts, eligibility, and reviewing which premium options best fit your home’s situation.
While discounts can vary from state to state, you might be eligible for a discounted premium when purchasing a home in Texas. Some of these savings options include:
- Bundling your home and auto policies
- Equipping your home with security systems
- Maintaining a claim-free history
Your claims history plays a larger role than you might realize. Watch this video to understand how insurance providers review your history and how it can affect your coverage options and discounts:
The goal isn’t simply to find the lowest price, but the best coverage option that keeps you and your home protected.
After all, the cheapest policy is not always the best value. A lower premium may come with higher out-of-pocket costs, fewer coverage options, or a carrier that is more difficult to work with during a claim.
Once we have reviewed the available options (aka, double and triple-checking all information), we’ll narrow the results down to your best options and share them with you before walking through each one together.
Step 4: Reviewing Your Coverage Options
This is where we pass the baton back to you– but don’t fret, we’ll walk you through each option before you make a decision.
Insurance policies can contain unfamiliar terms, coverage limits, and endorsements that are difficult to evaluate on your own. Rather than simply sending over a quote and asking you to choose, we take the time to explain what each coverage does and how it may impact you after a loss.
Some of the most common coverages you’ll review include:
- Dwelling coverage: Helps pay to rebuild your home after a covered loss.
- Personal property coverage: Helps cover belongings inside your home.
- Loss of use coverage: Helps pay for temporary living expenses if your home becomes uninhabitable after a covered claim.
- Optional endorsements: Additional coverage options that may provide protection beyond what’s included in your standard policy.
Before you reach this step, take the time to review How to Evaluate Home Insurance Quotes to prepare you to make a more informed decision.
Step 5: Choosing Your Policy and Getting Coverage in Place
Once you have reviewed your options and chosen the fit, your Grimes agent will finalize your policy with a coverage effective date that aligns with your closing date. For most homeowners, the push to find home insurance comes from their lender. When that’s the case, your insurance information is sent directly to your lender and added to your escrow account as part of your monthly mortgage payment.
How Long Does the Process Take?
If all information is accurate and verifiable, quotes can be reviewed within hours of the initial conversation with your agent.
Your coverage effective date will align with your closing date (the day you officially take ownership of your home). Some homeowners come to us months before their closing date, or three days before closing. While it’s best to shop for insurance a month in advance to avoid coverage issues, many coverages can begin within days of shopping. Most lenders require purchasing insurance before closing, so it’s important to communicate with your mortgage lender as you shop.
Step 6: Life as a Grimes Client
Buying your policy is just the beginning of the relationship.
Once your coverage is in place, we will remain available to you throughout the life of your policy. If you run into claims or policy changes, we will help you walk through each situation.
It’s important to remember that home insurance is not a “set it and forget it” purchase. After beginning your policy, you will be transferred to our department dedicated to existing customers. At every renewal, the retention team personally reviews your policy and re-shops it across our insurance carrier network, ensuring you are still receiving the best rate and coverage.
Getting a Home Insurance Quote With Grimes
Purchasing homeowners’ insurance can feel overwhelming, especially for first-time buyers. Between lender requirements, coverage options, and comparing quotes, there is a lot to keep track of.
However, instead of wondering what comes next, you now have what you need to be prepared. You know the steps, the information you’ll need, and how your agent will help evaluate your options along the way– and that makes all the difference.
At Grimes Insurance Agency, our goal is to make the process easier. For the past 78 years, our passion for educating customers has helped West Texans make insurance decisions they feel good about. Transparency about the process, from beginning to end, makes all the difference.
Ready to get started? Request a quote with Grimes Insurance Agency. We’ll help you compare your options, understand your coverage, and find a policy that fits your home’s needs before closing day.
