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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$420,000 :: 150 N STARBOARD Drive, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 1,975 sq ft
Lot Size: 12,196 sq ft
Added: 04/12/18, Last Updated: 04/22/18
Property Type: Single Family
MLS Number: 5750478
Community: EAST LAKE AT WIND DRIFT LOT 1-
Tract: EAST LAKE AT WIND DRIFT LOT 1-
The price of this listing was last reduced on 4/22/2018 by 1%
Status: Active


Beautiful water front home, with lake side views. Private pool and spa to enjoy- plenty of upgrades within this custom 4 bedroom, 2 bathroom and 3 car garage home located in the Wind Drift subdivision.Seller is leaving 2 televisions; one is locked in patio cupboard. Seller is also leaving bed in master bedroom.

Listed with Farnsworth Realty & Management Company


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


$335,000 :: 687 S Sahuaro Drive, Gilbert AZ, 85233

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3 beds, 2.5 baths
Home size: 2,299 sq ft
Lot Size: 6,969 sq ft
Added: 03/22/18, Last Updated: 04/22/18
Property Type: Single Family
MLS Number: 5740548
Community: LAGO ESTANCIA
Tract: LAGO ESTANCIA
Status: Active


Rare waterfront property! Beautiful, spacious home. 3 bedrooms, 2.5 bath, large loft. 3 car garage. Beautiful pool. Exterior painted Dec 2013. Just a couple miles away from Downtown Gilbert and all it has to offer.

Listed with Geneva Real Estate and Investments


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


$755,000 :: 1520 E TREASURE COVE Drive, Gilbert AZ, 85234

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5 beds, 3.5 baths
Home size: 3,446 sq ft
Lot Size: 16,988 sq ft
Added: 04/20/18, Last Updated: 04/20/18
Property Type: Single Family
MLS Number: 5754636
Community: Val Vista Lakes WEST LAKE ESTA
Tract: Val Vista Lakes WEST LAKE ESTA
Status: Active


Highly desirable single level custom waterfront home in West Lake Estates*Beautiful entrance with private gated courtyard and front water fountain *Separate guest detached mother-in-law suite or used for private Home office*Large master suite with separate outdoor exit*Huge master closet*Separate tub and shower*Large open and bright custom kitchen with gorgeous views of the lake*Kitchen island*Travertine countertops*Family room with 2 sided gas fireplace with breath taking views of the lake*Split floor*Wonderful backyard for entertaining family and friends with full length patio*Built-in barbecue*Pebble tech pool*Boat dock for private boat*This is a must see*Don't forget about the use of the Val Vista Lakes Club house with beach pool area, swimming pool, gym, tennis and so much more

Listed with Elite Desert 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/!


$489,000 :: 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: 04/06/18
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
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/!


$494,999 :: 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: 04/05/18
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 4/5/2018 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. Seller is offering a $5000.00 flooring allowance with accepted offer. 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/!


$444,888 :: 1345 W CLEAR SPRING Drive, Gilbert AZ, 85233

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3 beds, 2.5 baths
Home size: 2,643 sq ft
Lot Size: 4,356 sq ft
Added: 04/04/18, Last Updated: 04/04/18
Property Type: Single Family
MLS Number: 5746489
Community: CORAL POINT REPLAT LOT 76-101
Tract: CORAL POINT REPLAT LOT 76-101
Status: Active


There is only one gated waterfront community in The Islands, and this fully updated home is located there. Welcome to The Falls where you can lock your door and leave because the HOA covers front and rear landscaping and exterior painting every seven years. From the moment you arrive at this beautiful waterfall community home you will love the curb appeal. The covered entry invites you into a grand foyer with a beautiful staircase and soaring ceilings. As you gaze across the giant family room you will be instantly drawn to your amazing water view. The oversized patio beckons you for relaxing evenings taking in your view of one of three community lakes. Take a cruise on a pontoon from your own private boat dock

Listed with The Beshk Group, Inc.


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


$925,000 :: 1125 N DATE PALM Drive, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 4,458 sq ft
Lot Size: 13,068 sq ft
Added: 09/14/17, Last Updated: 04/04/18
Property Type: Single Family
MLS Number: 5660217
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 4/4/2018 by 2%
Status: Active


Absolutely stunning semi-custom home in the Lakeside neighborhood in Val Vista Lakes where homes are going up to over $250/sqft. This completely remodeled home features the absolute best lake views that Val Vista Lakes has to offer, a professionally designed putting and pitching green, top of the line artificial grass backyard, stunning 12 person spa and pebble sheen pool that is wrapped with Marbella stone on the pool deck, built in gas and charcoal grills, amazing outdoor gas fire pit that overlooks the lake and pop-out tv for enjoying a game while sitting in the pool or on the patio. Inside you will fine a custom gourmet kitchen with double edge eco-quartz countertops, travertine tile and hardwood floors, plantation shutters and tinted and reflective windows for privacy and efficiency.

Listed with Keller Williams Realty East Valley


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


$775,000 :: 1912 E CATAMARAN Court, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,798 sq ft
Lot Size: 13,939 sq ft
Added: 01/11/18, Last Updated: 03/23/18
Property Type: Single Family
MLS Number: 5707695
Community: VAL VISTA LAKES
Tract: VAL VISTA LAKES
The price of this listing was last reduced on 3/23/2018 by 3%
Status: Active


THIS HOME IS IDEALLY SITUATED ON ONE OF THE LARGEST NORTH/SOUTH FACING WATERFRONT LOTS & HAS ONE OF THE MOST OPEN SPACIOUS FLOORPLANS IN REGATTA. (A Val Vista Lakes Community)IDEALLY LOCATED ON A CUL DE SAC, THE HOME IS SET BACK WITH A LONG WIDE DRIVEWAY THAT ACCOMMODATES PARKING FOR 3 CARS DEEP AND 3 CARS WIDE IN ADDITION TO THE OVERSIZED 3 CAR GARAGE.ADDITIONALLY, THIS HOME BOASTS ONE OF THE LARGEST BACK YARDS IN REGATTA WITH A REMODELED PEBBLE TEC SALTWATER POOL WITH NEW FILTER AND VARIABLE SPEED PUMP, SALTWATER SPA AND LARGE TRAVERTINE PAVER PATIO. ENJOY THE PRIVACY AND ABSOLUTELY GORGEOUS VIEWS FROM THE COVERED ENTERTAINING AREA OR MASTER BALCONY. YOU CAN SIMPLY RELAX IN THE SPARKLING POOL OR TAKE THE BOAT OUT FROM YOUR PRIVATE DOCK THAT INCLUDES ELECTRIC AND WATER. Home features

Listed with Keller Williams Realty East Valley


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


$343,750 :: 1326 W CLEAR SPRING Drive, Gilbert AZ, 85233

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3 beds, 3 baths
Home size: 2,016 sq ft
Lot Size: 3,920 sq ft
Added: 02/15/18, Last Updated: 03/20/18
Property Type: Condo/Townhouse/Co-Op
MLS Number: 5724005
Community: CORAL POINT REPLAT LOT 76-101
Tract: CORAL POINT REPLAT LOT 76-101
The price of this listing was last reduced on 3/20/2018 by 0%
Status: Active


WATERFRONT LAKEFRONT LOT in a GATED COMMUNITY with a gorgeous backyard that backs up to the water. Sit out on the balcony and watch the beautiful waterfall. Home has bay windows in the dining room and kitchen. Awesome views from the dining room. Home has Two Zone Air Conditioners. Masterbath has separate Shower and Tub. Home flows smoothly and has great views. Also you can put your boat in the big lake and take it up to the community pool and spa.

Listed with Keller Williams Realty Sonoran Living


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


$738,000 :: 794 S OCEAN Drive, Gilbert AZ, 85233

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5 beds, 3.5 baths
Home size: 4,032 sq ft
Lot Size: 10,454 sq ft
Added: 02/02/18, Last Updated: 03/01/18
Property Type: Single Family
MLS Number: 5718416
Community: CATALINA BAY AT THE ISLANDS UN
Tract: CATALINA BAY AT THE ISLANDS UN
The price of this listing was last reduced on 2/3/2018 by 0%
Status: Active


Lakefront stunning resort style living w/negative edge swimming pool. This home has been meticulously maintained & upgraded with the latest trends by the original homeowners. You will appreciate the hard wood flooring, the beautiful kitchen with white cabinets, granite counters & views of the lake. Enjoy entertaining family & friends in this gorgeous home that has views from the formal dining, kitchen, family room and master bedroom retreat. Master Bedroom is over sized & has a walk out deck. Master bathroom has soaking tub, recently remodeled shower, large walk-in closet with lots of shelving. The secondary bedrooms are Huge with walk in closets. Downstairs one bedroom down with bathroom great for guests or could be used as an office. Indoor/Outdoor living awaits as you!

Listed with Keller Williams Realty East Valley


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