Realtors Go The Extra Mile With Insurance Tips

I've seen many Realtors in Greenville, SC go the extra mile by pointing out a few things about homeowners insurance to their clients. Four tips I've heard Expert Realtors give that stand out have included:

1. Since you're married...for about $25/year, you can usually increase the limits on covered losses for Jewelry/Silver/Watches/Furs to $10,000. Otherwise, it's usually only $1,000 for Jewelry & $2,500 for Silver. Have you ever noticed a beautiful diamond ring on one of your clients? It's probably a safe bet the owner wouldn't sell it for $1,000...which is essentially what they would be doing if it was lost and they only had standard homeowner's insurance coverage.

2. Since you have a child in college (or soon to be in college)...if they're in a dorm, then covered losses would usually fall under your homeowner's insurance policy. If the student is renting an apartment, they should obtain a renter's policy. The average renter usually has $30,000 in personal belongings (think about jeans, shoes, and other clothing in the closet, ALONG with any computer equipment) which can be covered for roughly $150/year. (They'll probably pay double that for just a few textbooks during the semester.)

3. You mentioned your photography/music equipment...for about $20/year, you can usually increase the limits on covered losses for Music/Photography equipment to $5,000 or more. Otherwise, it's probably only $1,000. If they're like most enthusiasts that I know, they likely collect equipment as well...and the standard coverage simply won't do if it's all lost.

4. With Identity Theft on the rise for the 9^th year in a row...you should consider adding Identity Theft Protection to your homeowner's insurance coverage, which can often be done for about $30/year. According to www.IDTheftCenter.org: Victims spend an average of 600 hours recovering from Identity Theft, often over a period of years. (Four years ago the average was 175-hours of time, representing an increase of about 347%.) Based on 600 hours times the indicated victim wages, this equals nearly $16,000 in lost potential or realized income.

With these 4 tips a potential problem can be solved for less than many of us spend to fill up our tanks with gas. If a covered loss occurs, your customer gets plenty of mileage out of the money they've spent. With these 4 easy observations, you can not only help your clients but you just might endear them to you for future transactions.