Insurance tips to remember

Home Insurance Facts That Should Not Be Overlooked

A home buyer has found his/her dream home and is making plans to move in in a few short weeks.  But how well is their most expensive purchase to date protected?  With the never ending list of things to get completed before the close of escrow, making sure insurance is in place so the lender can receive the declaration of insurance page before going to underwriting is just one more item to get done .  So you want your insurance agent to get this off your plate as soon as possible.  However, it will be worth your time to have details discussion with your agent to make sure your home is properly insured.  Here are some important decisions regarding home insurance that should be considered. 

Replacement Cost is key

All homes should be insured for the replacement cost which is not market or appraised value.  The market value takes into account location, neighborhood desirability, condition of the home, etc. Replacement cost is what it costs to replace the house regardless of location.  Think of it this way; the exact same home built in Eloy (near Casa Grande) and Scottsdale will have significantly different market values but the cost to rebuild the house will be the same.

The upgrades currently in the home will affect the replacement cost. Make sure the insurance agent knows the level of upgrades, especially the expensive ones such as plantation shutters, upgraded flooring and kitchen cabinets.

Insuring for cash value will turn into a disappointing surprise if there is a claim because the cash value subtracts out the depreciation.

Ordinance or Law Coverage

This coverage covers the increased cost caused by adherence to current laws and ordinances.  With time building codes change and repairs or replacements will need to incorporate these updated code changes. For example, if a tree falls onto your home that was built in 1985 and the repairs require updated electrical, plumbing or roof systems to meet the current codes this could result in a more costly repair than is covered in the policy. There is a base level of coverage for Ordinace and Law coverage in most policies, just make sure yours is adequate for your home.

Many thanks to Martin Watts with Legacy Insurance (480-969-6229) for helping with the content of this post.

If you’re looking for a home, click on Home Search . If you’d like to know the value of your home, click on Tell Me The Value of My Home.  And if you have any real estate questions, please call me at 480-326-8571.

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$549,900 :: 1313 W WINDRIFT Way, Gilbert AZ, 85233

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3 beds, 2.5 baths
Home size: 2,183 sq ft
Lot Size: 3,921 sq ft
Added: 05/25/21, Last Updated: 08/01/21
Property Type: Single Family
MLS Number: 6241203
Community: The Islands
Tract: The Islands
The price of this listing was last reduced on 8/1/2021 by 4%
Status: Active


Wow!!!! WATERFRONT former Model Home, Beautifully designed open floorplan, Nice and bright natural light, with amazing lake views to enjoy! This home features Stunning Vaulted ceilings, elegant fireplace in Living room, 3 Awesome Bedrooms upstairs and 2.5 bathrooms, upgraded Kitchen with pull out cabinets drawers, smooth stove top, granite countertops and Huge walk in pantry. Backyard includes putting green, private SPA, Good size Covered Patio and custom built in BBQ Grill with bar. Lots of storage and an Extended 2 car garage. Very Desirable community in The Islands, offering Fishing,boating, parks and recreation for you and your Family!

Listed with Realty ONE Group


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$580,000 :: 1442 W CORAL REEF Drive, Gilbert AZ, 85233

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3 beds, 3 baths
Home size: 2,289 sq ft
Lot Size: 1,743 sq ft
Added: 06/18/21, Last Updated: 07/28/21
Property Type: Condo/Townhouse/Co-Op
MLS Number: 6239386
Community: TOWNHOMES ON CORAL REEF
Tract: TOWNHOMES ON CORAL REEF
The price of this listing was last reduced on 7/28/2021 by 2%
Status: Active


Lake front property! Bring your paddle boats, pontoons, kyaks, paddle boards, canoes and troll around in these beautiful water. This fantastic water front property is waiting for you to call it home. Beautiful views from your patio and balcony. Travetine floors, master travertine shower and surrounds- spacious bedrooms, open greatroom and kitchen with beautiful granite counters and island. Den downstairs and loft upstairs.

Listed with HomeSmart Lifestyles


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$1,282,461 :: 1452 E BLUE RIDGE Way, Gilbert AZ, 85298

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4 beds, 3.5 baths
Home size: 3,949 sq ft
Lot Size: 12,633 sq ft
Added: 07/28/21, Last Updated: 07/28/21
Property Type: Single Family
MLS Number: 6270680
Community: HAMSTRA DAIRY PHASE 1 REPLAT
Tract: HAMSTRA DAIRY PHASE 1 REPLAT
Status: Active


Located in the master-planned community of Waterston with a 7-acre Central Park and Lake this single story MODEL home features black gourmet stainless steel appliances with a G.E. 36'' gas cooktop, double wall ovens, professional 36'' vented hood, microwave, dishwasher and refrigerator, granite and quartz kitchen countertops, designer kitchen backsplash, Timberlake Portfolio Lusanne maple truffle kitchen cabinets, oversized kitchen island, two-tone interior paint, 12' ceiling at great room, walk-in shower at primary bath, stackable washer and dryer at primary suite closet, slider at gameroom, exterior fireplace in courtyard, exterior French door at primary suite, professionally landscaped front and back, pavers at driveway and porch and so much more. Close of escrow on or before 11/15/21

Listed with Tri Pointe Homes Arizona Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$1,290,017 :: 1438 E BLUE RIDGE Way, Gilbert AZ, 85298

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4 beds, 3.5 baths
Home size: 3,382 sq ft
Lot Size: 12,633 sq ft
Added: 07/27/21, Last Updated: 07/27/21
Property Type: Single Family
MLS Number: 6270429
Community: HAMSTRA DAIRY PHASE 1 REPLAT
Tract: HAMSTRA DAIRY PHASE 1 REPLAT
Status: Active


Located in the master-planned community of Waterston with a 7-acre Central Park and Lake this single story MODEL home features gourmet stainless steel appliances with a G.E. 36'' gas cooktop, double wall ovens, professional 36'' vented hood, microwave, dishwasher and refrigerator, granite kitchen countertops, designer kitchen backsplash, extended kitchen nook, Kinsdale Boulder kitchen cabinets with 42'' stacked uppers, oversized kitchen island, two-tone interior paint, extended bedrooms 2 and 3, 12' ceiling at great room, generation suite with a kitchenette, frameless walk-in shower at primary bath, 90 degree slider at extended nook and great room, professionally landscaped front and back, pavers at driveway and front porch and so much more. Close of escrow on or before 11/15/21.

Listed with Tri Pointe Homes Arizona Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$550,000 :: 457 S Marina Drive, Gilbert AZ, 85233

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3 beds, 3 baths
Home size: 2,156 sq ft
Lot Size: 3,921 sq ft
Added: 07/16/21, Last Updated: 07/16/21
Property Type: Single Family
MLS Number: 6257231
Community: The Islands of Gilbert AZ
Tract: The Islands of Gilbert AZ
Status: Active


Imagine your morning coffee accompanied by a peaceful lake view! This 3 Br. waterfront home inside a GATED COMMUNITY was modified at construction for extra space, and seamlessly blends indoor and outdoor living. An open greatroom has vaulted ceiling, dramatic staircase, and overlooks the patio with a backdrop of cool, crisp water. In addition to a view balcony, the master suite sports a glass-enclosed fireplace, large bath and walk-in closet. The kitchen is a cook's delight, smart and nicely appointed with black tile surfaces and stainless appliances, and is open to the family room with fireplace. Plank tile flooring, plantation shutters, oversized second bedroom, and two newer A/Cs in 2018. HOA fee is reasonable and includes front and back yard maintenance, community pool, parks.

Listed with Arizona Elite Properties


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$530,000 :: 521 S Marina Drive, Gilbert AZ, 85233

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3 beds, 3.5 baths
Home size: 2,425 sq ft
Lot Size: 4,356 sq ft
Added: 06/12/21, Last Updated: 07/15/21
Property Type: Condo/Townhouse/Co-Op
MLS Number: 6248280
Community: CORAL POINTE
Tract: CORAL POINTE
The price of this listing was last reduced on 7/6/2021 by 4%
Status: Active


Beautiful lake views from this waterfront home in the gated community of The Islands a" enjoy the lake views from the living room, master bedroom & upstairs bedroom! It features an open split floor plan with master bedroom downstairs, vaulted ceiling, 10 year old AC, 10 year old roof & 5 year old boat deck. The kitchen is open with lots of cabinet space, great countertop space, well taken care of appliances, breakfast bar & large pantry space! The master bedroom is large enough for a king bed to fit comfortably. Separate loft can be used as office space with built-ins. Enjoy the 180 degree lake views from the backyard deck & private dock. Front yard landscaping is included with HOA! Great location for an owner occupant, family, rental or winter visitor.

Listed with North & Co


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$3,500,000 :: 1502 E TREASURE COVE Drive, Gilbert AZ, 85234

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8 beds, 8 baths
Home size: 6,781 sq ft
Lot Size: 33,542 sq ft
Added: 06/25/21, Last Updated: 06/25/21
Property Type: Single Family
MLS Number: 6256331
Community: WEST LAKE ESTATES
Tract: WEST LAKE ESTATES
Status: Active


Welcome to the rarest one-of-a-kind GEM on Treasure Cove located in the coveted & prestigious GATED West Lake Estates! This unique estate is located on 2 waterfront lots with the most STUNNING expansive views of the lake--and this exquisite ESTATE has recently been completed remodeled! This amazing estate boasts: over 6700 square feet of the finest luxury and superior quality finishes with 8 bedrooms and 8 baths, a large 3 car garage, an elevator, Gourmet Chef's Kitchen--indoors and out--home theater, game room, 50 bottle wine room with humidor, impressive outdoor patio with a huge gazebo that has misting and heating, firepits, impressive 36,000 gallon salt water pool with swim up bar.. the views & outdoor living are like living in the finest 5 star resort! Click ''more'' for further

Listed with Cooper Premier Properties LLC


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$575,900 :: 1025 W PENINSULA Drive, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,787 sq ft
Lot Size: 10,019 sq ft
Added: 12/05/20, Last Updated: 01/27/21
Property Type: Single Family
MLS Number: 6156476
Community: WINDHAVEN
Tract: WINDHAVEN
Status: Active


BEST PRICED WATERFRONT ISLAND HM.N/S.EXP.OVER 10K SF WATERFRT VIEW LOT W/94 FEET OF WATER FRONT & APPROX.120FT DEEP LOT.PRVT DOCK BRIGHT&OPEN.FORMAL LVG;DININGNOOK+FR.VAULTED CEILING.UPDATED FLOORING;GRANITE COUNTER KITCHEN CABINETS;WHITE WOOD SHUTTERS.SECURITY DRS@ENTRY&BACK PATIO DBL FRENCH DOOR. OVER-SIZED COV'D PATIO.WET BAR W/GRANITE COUNTER.ALL BATHS HAVE BEEN REMODELED.MASSIVE MASTER BR W/HIS&HER'S CLOSETSSEP.TUB/SHOWER.2 SINKS W/SPACIOUS COUNTER SPACE&STORAGE.DBL FRENCH DOOR W/SEC.IRON GATE WALK ON TO PVT WATER FRONT VIEW DECK FOR YOUR LEISURE MORNING RELAXATION -THEN RETURN TO ENJOY THE INCREDIBLE ARIZONA SUNSET-LIFE IS JUST PERFECT HERE. HURRY! CALL NOW FOR YOUR PRIVATE TOUR ARRANGEMENT. MUST SEE TO APPRECIATE. MASKS REQUIRED WHILE ON THE PREMISE.

Listed with FDR Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


 

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