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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$325,000 :: 1450 W CORAL REEF Drive, Gilbert AZ, 85233

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3 beds, 2.75 baths
Home size: 2,289 sq ft
Lot Size: 2,178 sq ft
Added: 11/22/17, Last Updated: 12/12/17
Property Type: Condo/Townhouse/Co-Op
MLS Number: 5691047
Community: TOWNHOMES ON CORAL REEF
Tract: TOWNHOMES ON CORAL REEF
The price of this listing was last reduced on 11/22/2017 by 1%
Status: Active


Stunning Waterfront Townhome in the coveted Gilbert Islands. This 2289 sq. ft., 3 bed, 2.75 bath with an office and loft is the perfect lock and leave low maintenance home! Well-appointed with 10 ft ceilings, travertine tile, fresh two-tone paint and an elegant wrought iron circular staircase. Kitchen features 42 inch Solid Maple Cabinets, Stainless Steel appliances, Granite Counters, Kitchen Island and Breakfast Bar. Updated bathrooms with stone vanities and surrounds. Master features lakefront balcony, walk-in closet, separate shower and garden tub. Lots of custom features and a community pool! Come see for yourself.

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/!


$599,000 :: 1426 W Emerald Key Court, Gilbert AZ, 85233

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3 beds, 2 baths
Home size: 2,522 sq ft
Lot Size: 11,325 sq ft
Added: 11/30/17, Last Updated: 12/11/17
Property Type: Single Family
MLS Number: 5693455
Community: Shores at The Islands
Tract: Shores at The Islands
The price of this listing was last reduced on 11/30/2017 by 7%
Status: Active


One of the most incredible view lots in The Islands! This is a must see spectacular single-story home with soaring ceilings and windows to appreciate the one-of-a-kind long lake view in multiple directions. Beautiful architectural details include a double- sided fireplace which can be seen in both the living room and family room framed by tall built in book cases. Large master has bay windows overlooking the lake. 2nd master/guest room has separate entry, a bay window and views to take your breath away. Relax while swimming in the play pool, eating fresh fruit from mature trees, and viewing the lake. Tucked away in a quiet cul-de-sac, it has an all pavered driveway with extra parking. Conveniently located just minutes away from thriving down-town Gilbert.

Listed with HomeSmart


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


$364,000 :: 731 S PUEBLO Street, Gilbert AZ, 85233

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3 beds, 3 baths
Home size: 2,308 sq ft
Lot Size: 10,454 sq ft
Added: 12/10/17, Last Updated: 12/10/17
Property Type: Single Family
MLS Number: 5697299
Community: Lago Estancia, WHISPER GROVE L
Tract: Lago Estancia, WHISPER GROVE L
Status: Active


Single level backs to lake. Located on large pie-piece shaped lot with room for RV gate***Rare find! *** Modified floor plan was a 4 BR originaly - now: 3 br,3 bath- has 2 master suites on opposite sides- perfect for guest suite set up***This home has SOLAR SYSTEM electricity installed and fully paid for and stays with the house***Swimming pool, 3 car garage, desert landscaping with mature trees***Vaulted ceilings and many plant shelves throughout***Formal LR & DR, Family rm, Breakfast nook,sky-lites in FR, washer/dryer/refrigerator stay **Newer stove and MW**The house needs cosmetic updates and is priced accordingly*** Great community with many water ponds, walkways/jogging paths, green belts, bridge, fountain***Convenient location near shopping and restaurants

Listed with West USA 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/!


$360,000 :: 244 N CORRINE Court, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 2,005 sq ft
Lot Size: 10,018 sq ft
Added: 10/13/17, Last Updated: 12/08/17
Property Type: Single Family
MLS Number: 5673864
Community: STONEBRIDGE LAKES ESTATES UNIT
Tract: STONEBRIDGE LAKES ESTATES UNIT
Status: Active


This home is a rare find in the beautiful lake community of Stonebridge Lakes Estates. There is an amazing lake view with a meandering brick walkway down to the lake. Completing the backyard is lush landscaping including fruit trees and an extended 33 X 14 covered brick patio. Ceramic tile entry way leads to formal living and dining area complete with custom shutters. Kitchen includes bay window eating area, walk-in pantry, butcher block island, smooth top stove with microwave and Kitchen Aid refrigerator. Family room adjoins kitchen & has a corner fireplace, French doors lead to the patio from the family room & master bedroom. Awesome location is close to downtown Gilbert with all the fantastic restaurants & outside patio seating. Easy access to freeways, shopping and schools.

Listed with RE/MAX Alliance 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/!


$639,900 :: 1401 W SANDPIPER Drive, Gilbert AZ, 85233

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4 beds, 2.75 baths
Home size: 3,884 sq ft
Lot Size: 10,018 sq ft
Added: 10/20/17, Last Updated: 12/04/17
Property Type: Single Family
MLS Number: 5676764
Community: TRES VISTAS LOT 1-26 PARCEL A-
Tract: TRES VISTAS LOT 1-26 PARCEL A-
The price of this listing was last reduced on 11/25/2017 by 1%
Status: Active


Gilbert's fabulous ''Islands'' community. Lake #1 is freshwater w/ catch and release fishing, great boating & fabulous sunsets(sorry no swimming). This former ''Street of Dreams'' home is like resort living. Professionally landscaped yard slopes to a beautiful water view w/a boat dock ready backyard. Inside, a foyer w/marble tile flooring and plush carpet. Open & airy floor plan, waterfront windows, 20ft ceilings, skylight,two fireplaces,2nd story balcony,formal dining, sunken living rm w/fireplace,family rm, & a roomy kitchen. Oversized master bedroom suite w/2 walk-in closets & soaking tub. Over $100,000 in upgrades. Reduced $10,000. Hurry for this fabulous waterfront property.

Listed with West USA 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/!


$339,500 :: 1237 E ARTESIAN Way, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 1,521 sq ft
Lot Size: 6,098 sq ft
Added: 11/08/17, Last Updated: 12/04/17
Property Type: Single Family
MLS Number: 5684838
Community: HARBOR VIEW AT WIND DRIFT
Tract: HARBOR VIEW AT WIND DRIFT
The price of this listing was last reduced on 11/15/2017 by 3%
Status: Active


One of Gilbert's Highly-Coveted Lake Front properties! Gorgeous 3 Bdrm/2 Bath 1521 sq ft single-level home right on the Wind Drift lake. Feel free to boat and fish! The resort-style backyard is complete w/ Pebbletec pool, waterfall, new redwood dock, covered patio and misting system. Interior upgrades include Silestone countertops, beautiful cherry wood cabinets, ceramic tile floors, double pane windows, new security system, and new water softener and reverse osmosis. Enjoy the gas fireplace and formal living and dining areas. Located in the Gilbert High school district and only a few minutes from Downtown Gilbert's many restaurants and entertainment venues. BONUS ALERT: Low HOA in Gilbert!

Listed with Re/Max Platinum 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/!


$950,000 :: 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: 11/20/17
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 11/15/2017 by 3%
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/!


$580,000 :: 480 N MONDEL Drive, Gilbert AZ, 85233

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4 beds, 2.5 baths
Home size: 3,552 sq ft
Lot Size: 11,325 sq ft
Added: 10/06/17, Last Updated: 11/15/17
Property Type: Single Family
MLS Number: 5670414
Community: PLAYA DEL REY
Tract: PLAYA DEL REY
The price of this listing was last reduced on 11/15/2017 by 1%
Status: Active


ENJOY RESORT STYLE LIVING IN THIS BEAUTIFULLY APPOINTED PLAYA DEL RAY WATERFRONT HOME. AN ENTERTAINERS DREAM! OPEN THE DOOR TO SOARING VAULTED CEILINGS INTO THE FORMAL LIVING AND DINING AREA. ENJOY THE LAKE VIEW FROM HERE OR HEAD STRAIGHT TO THE BACKYARD. SOAK IN THE HEATED SPA OR TAKE A DIVE INTO THE PEBBLE TECH POOL. THE MASTER SUITE IS CONVENIENTLY LOCATED ON THE FIRST FLOOR AND BOASTS AN EXQUISITELY REMODELED MASTER BATH WITH A WALK IN TILE SHOWER, SOAKING TUB AND LARGE DUAL VANITY. YOUR KIDS OR GUESTS WILL ALSO ENOJOY A REMODELED BATH UPSTAIRS WITH TWO BEDROOMS, A LOFT AND SPECTACULAR VIEW FROM THE BALCONY. THE COMMUNITY AMENITIES ARE ENDLESS. THE LAKE ALLOWS SKIING, BOATING, AND SO MUCH MORE. VISIT THE CLUB HOUSE, PUTT PUTT GOLF COURSE OR VENTURE VIA PRIVATE ACCESS TO MCQUEEN PARK.

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/!


$760,000 :: 1819 E LAKECREST Drive, Gilbert AZ, 85234

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5 beds, 3.5 baths
Home size: 3,503 sq ft
Lot Size: 11,761 sq ft
Added: 11/10/17, Last Updated: 11/15/17
Property Type: Single Family
MLS Number: 5686286
Community: Val Vista Lakes Crystal Shores
Tract: Val Vista Lakes Crystal Shores
Status: Active


Beautiful Waterfront home located in Val Vista Lakes Crystal Shores neighborhood. This home offers 2 large master bedrooms one on the lower level and the other upstairs. Upstairs master exits to a large covered patio. Updated kitchen with eat-n-kitchen, large great room, seperate dining and family room. The outdoor living is amazing with a large backyard featuring pool hot tub, oversized covered patio, boat dock and spacious grassy area. You won't be able to get enough of the outdoor living. This is a home you will enjoy spending with family and friends. Do not miss visiting the beautiful CLUBHOUSE!!! Boat available on separate bill of sale.

Listed with West USA 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/!


$500,000 :: 1700 E LAKESIDE Drive #37, Gilbert AZ, 85234

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3 beds, 3 baths
Home size: 2,900 sq ft
Lot Size: 6,969 sq ft
Added: 11/03/17, Last Updated: 11/15/17
Property Type: Condo/Townhouse/Co-Op
MLS Number: 5682997
Community: BRECKENRIDGE BAY LOT 1-65 TR A
Tract: BRECKENRIDGE BAY LOT 1-65 TR A
Status: Active


Waterfront Condo in gated Breckenridge Bay at Val Vista Lakes.Cul-de-sac & private end unit. This is the one you have been waiting for! Updated and expanded! Light open kitchen with lots of natural lighting. New grey plank style tile flooring in kitchen. 42'' high cabinets,extra storage room & huge walk-in pantry. Family room w/fireplace +bonus room overlooking lake. Bonus room could be home office? Main level has second bedroom & bathroom, 3rd bed/bath upstairs and private. Low maintenance lock & leave makes this perfect secondary home.Tile roof updated in 2015. Flat roofs re-coated last month! High effeciency A/C units are recently updated. Compare this to new condo developments and you will find this is where the value is! Great Gilbert Val Vista Lakes location. Gated. Next door is the

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/!