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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$469,000 :: 433 S LAKE MIRAGE Drive, Gilbert AZ, 85233

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4 beds, 3.5 baths
Home size: 2,593 sq ft
Lot Size: 5,227 sq ft
Added: 04/06/18, Last Updated: 06/22/18
Property Type: Single Family
MLS Number: 5747954
Community: LAKE MIRAGE LOT 1-38 TR A-I
Tract: LAKE MIRAGE LOT 1-38 TR A-I
The price of this listing was last reduced on 6/6/2018 by 2%
Status: Active


One of the most incredible view lots in The Islands with soaring ceilings and windows to appreciate the one-of-a-kind long lake view in multiple directions. This beautiful home comes with designer kitchen, granite countertops, travertine flooring, and upgraded finishes thought. Two masters, one up and one downstairs equipped with two vanities. Relax outside while enjoying the tranquil water or enjoy an active lifestyle community with restaurants and shopping within walking distance. Exterior includes built in dock, entertaining fridge, and second story patio with views galore.

Listed with Revelation 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/!


$450,000 :: 614 E STONEBRIDGE Drive, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 2,298 sq ft
Lot Size: 7,405 sq ft
Added: 06/22/18, Last Updated: 06/22/18
Property Type: Single Family
MLS Number: 5784254
Community: STONEBRIDGE LAKES ESTATES UNIT
Tract: STONEBRIDGE LAKES ESTATES UNIT
Status: Active


GORGEOUS RARE LAKE FRONT ''STONEBRIDGE LAKES ESTATE'' HOME, WHICH SITS ON THE MIDDLE OF THE LAKE OFFERING YOU BREATH TAKING VIEWS OF THE LAKE AND ARIZONA'S FAMOUS SUNSETS. VAST, INVITING , FESTIVE AND LIVABLE, LUSH LANDSCAPING FRONT AND BACKYARD, THE HOME OFFERS 4 BEDROOMS, 2 BATHROOMS, A BONUS ROOM, A FORMAL DINING AND LIVING ROOM, FAMILY ROOM, FIREPLACE WITH A FRENCH DOOR THAT OPENS UP TO AN INCOMPARABLE RETREAT BACKYARD, WITH PRIVATE POOL, BOAT DOCK, PATIO, BBQ AREA, YOUR OWN APPLE TREE, FIG TREE, PLUM TREE, POMEGRANATE TREE. OTHER HIGHLIGHTS OF THIS HOME INCLUDE MODERNIZED BATHROOMS WITH TRAVERTINE, GRANITE COUTERTOPS, THE KITCHEN HAS A BEAUTIFUL COPPER FARM STYLE SINK WITH GRANITE COUNTER TOPS, NEW ROOF 2018.

Listed with The Daniel Montez Real Estate 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/!


$300,000 :: 321 E VAUGHN Avenue, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 1,707 sq ft
Lot Size: 5,662 sq ft
Added: 06/21/18, Last Updated: 06/22/18
Property Type: Single Family
MLS Number: 5783513
Community: STONEBRIDGE LAKES MANOR LOT 1-
Tract: STONEBRIDGE LAKES MANOR LOT 1-
Status: Active


Great Views from this Lakefront Property. Open Great Room floorplan with Vaulted Ceilings and a Fireplace has a Formal Dining and a Breakfast Room with a Breakfast Bar. Spacious Master Bedroom with His & Hers Closets. Master Bath has Snail Shower and Dual Sinks. Lake Subdivision with Community Pool, Spa and Playground. Front Yard Landscaping included in HOA!

Listed with Legacy Brokers, 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/!


$450,000 :: 1700 E LAKESIDE Drive #14, Gilbert AZ, 85234

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2 beds, 2 baths
Home size: 1,777 sq ft
Lot Size: 7,405 sq ft
Added: 06/05/18, Last Updated: 06/21/18
Property Type: Condo/Townhouse/Co-Op
MLS Number: 5775809
Community: BRECKENRIDGE BAY LOT 14
Tract: BRECKENRIDGE BAY LOT 14
Status: Active




Listed with Keller Williams Integrity First


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


$474,999 :: 542 N MONDEL Drive, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,913 sq ft
Lot Size: 8,712 sq ft
Added: 01/29/18, Last Updated: 06/18/18
Property Type: Single Family
MLS Number: 5715811
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 6/18/2018 by 1%
Status: Active


WOW! Honey stop the car, this is a great location close to schools, parks & shopping. A highly desirable area with a ski lake. This home is on the water with a fountain you can see from all your rear facing windows. 4 bedroom with one bedroom downstairs & a full bath downstairs, formal living & dining, Gourmet kitchen with granite counter tops open to the great room,3 bedrooms upstairs & loft, tile in all the right spots. Huge covered patio with barbecue great views to enjoy all year long. 2 car garage with cabinets, new water heater & dishwasher and fresh paint. Truly a must see, it won't last long.

Listed with Southwest Mountain Realty, 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/!


$224,900 :: 2670 S VOYAGER Drive #109, Gilbert AZ, 85295

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2 beds, 2 baths
Home size: 1,006 sq ft
Lot Size: 871 sq ft
Added: 06/01/18, Last Updated: 06/11/18
Property Type: Condo/Townhouse/Co-Op
MLS Number: 5774386
Community: VAL VISTA CLASSIC PARCEL 3 CON
Tract: VAL VISTA CLASSIC PARCEL 3 CON
Status: Active


What a lovely townhome! Located in Gilbert, this two bedroom has stone and brick trim, front patio is covered with a fountain/lake view. Living room downstairs, great room/loft and eat in kitchen upstairs. Stainless steel appliances, built in microwave, custom cabinets, dining area. Custom design trim throughout bedrooms, one bedroom has access to a 3/4 bath, master bed has a full bath and walk in closet. The seller would also like the buyer to take it fully furnished!! This one is sure to sell fast, see it today!

Listed with My Home Group 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/!


$650,000 :: 1726 E QUEEN PALM Drive, Gilbert AZ, 85234

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3 beds, 3.5 baths
Home size: 3,134 sq ft
Lot Size: 11,325 sq ft
Added: 06/09/18, Last Updated: 06/09/18
Property Type: Single Family
MLS Number: 5778204
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Active


AMAZING WATERFRONT BEAUTY! Gorgeous views of the big lake & you can boat to the clubhouse! Updated Pebble-tec pool, huge north-facing patio overlooking grassy backyard & lake! Custom oak flooring in lower level, updated paint colors, Gourmet Kitchen w/updated cabinets, Huge Island, Double Ovens PLUS Microwave & Stainless Refrigerator. Family Room Gas Fireplace, Formal Living & Dining Rooms, Office off FR & next to 3rd Full Bath, Huge Laundry Room & Enormous Pantry are all on ground floor! Upstairs features Oversized Master Suite w/Updated Custom Shower plus Huge Garden Tub. 2 more Bedrooms up w/Jack & Jill Bath between. Extended Length Garage w/Cabinets! Over $65,000 in recent updates! Val Vista Lakes features $10mil Clubhouse, Jr. Olympic Pool, Tennis Club, Workout Rooms, Sandy Beach+!

Listed with Keller Williams Integrity First


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


$449,900 :: 1765 W ASPEN Avenue, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,732 sq ft
Lot Size: 13,503 sq ft
Added: 06/07/18, Last Updated: 06/07/18
Property Type: Single Family
MLS Number: 5777263
Community: EL DORADO LAKES GOLF COMMUNITY
Tract: EL DORADO LAKES GOLF COMMUNITY
Status: Active


Fantastic former Blandford model at El Dorado Lakes. 138 feet of waterfront living with views of the 8th green from your backyard and Master bedroom deck. Gorgeous setting lets you relax with the lake in your view. PLUS, a large, well maintained and updated 2 story home you will love. Separate, but open floorplan with lots of living space options. Formal and informal dining. Island kitchen with stainless appliances and upgraded wood cabinetry with slab granite counters. Super spacious master bedroom with sitting area AND FIREPLACE! Large Master bath with dual vanities, separate tub and shower. Twin closet set up too. 2732 sqft PLUS a 3 car garage AND double gate with extra concrete on the side yard. One of the biggest lots in the subdivision.

Listed with Imperial Realty Services, 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/!


$710,000 :: 1211 N REGATTA Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,342 sq ft
Lot Size: 9,583 sq ft
Added: 06/07/18, Last Updated: 06/07/18
Property Type: Single Family
MLS Number: 5777160
Community: REGATTA AT VAL VISTA LAKES AMD
Tract: REGATTA AT VAL VISTA LAKES AMD
Status: Active


4 bedroom 3 bath custom built lakefront home with one of the very best views in Val Vista Lakes!Gated community,3348 SF in main house,833 addl SF in garage.Builder utilized many energy efficient upgrades:3 + car garage, insulated garage & insulated garage doors.Master Bedroom on main floor.Marble Floor & Counter in Master Bath2x6 construction.Highly insulated to save you $$ on cooling / heating bills.Upgraded energy efficient Pella windows.3 brand new 16 seer A/C units; 3 zones for maximum energy efficiencyNew hot water heater; New water softener. New exterior paint.Granite counters throughout home, custom built cabinetry throughout.Tons of closet space.Outdoor cooktop. Boat dock.'Tubes in walls' pest control system Mature fruit bearing tree in yard.RV g

Listed with Revinre


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


$1,795,000 :: 193 N SKI Court, Gilbert AZ, 85233

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6 beds, 7 baths
Home size: 6,700 sq ft
Lot Size: 20,037 sq ft
Added: 09/20/17, Last Updated: 06/04/18
Property Type: Single Family
MLS Number: 5662648
Community: CRYSTAL POINT ESTATES AMD LOT
Tract: CRYSTAL POINT ESTATES AMD LOT
The price of this listing was last reduced on 6/4/2018 by 5%
Status: Active


Beautiful Custom home on a private water ski lake. Water ski, tube, wakeboard, all out your back door. This home is the builders personal home. Custom in every way. Master Suite, plus office & guest bedroom all on the first floor. All bedrooms have their own full bathroom. Open great room with 21ft ceiling open wall of windows to the beautiful lake view. Granite counter tops, Top of the line stainless steel appliances, double ovens, warming draw, 6 burner Thermador Cook top, custom oak cabinets through out the home. Large center island with vegetable sink & eating area. Large covered patio with built in misters, built in BBQ & sink. Private boat dock with sink & small refrigerator. Large ski house to store tubes, wake boards, skis Large 5 car garage with built in cabinets, epoxy floor

Listed with The Hogan Group 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/!