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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$999,999 :: 2111 E GONDOLA Lane, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 2,505 sq ft
Lot Size: 10,455 sq ft
Added: 09/02/22, Last Updated: 11/25/22
Property Type: Single Family
MLS Number: 6459011
Community: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
Tract: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
The price of this listing was last reduced on 11/25/2022 by 9%
Status: Active


Absolutely gorgeous, waterfront, single level, North/South facing custom home perfectly situated in the highly desired gated community of Regatta at Val Vista Lakes. Luxury vinyl flooring throughout. Herringbone tile backsplash in the kitchen. Stunning quartz countertops in the kitchen/bathrooms. Raised vanities in all 3 bathrooms. Custom upgraded tile in all the shower/bath areas. Unique and fun loft for a bonus room. Sparkling pool overlooking the breathtaking lake. 3 car garage including epoxy flooring and built-in cabinets. Cul-de-sac lot. Val Vista Lakes features a multi-million-dollar clubhouse and all its amenities such as the beautiful waterfalls, junior Olympic heated pool, beach laguna pool, jacuzzi, cabana's, ramada's, 8 outdoor tennis courts, 3 racquetball rooms, locker rooms,

Listed with Realty Executives


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


$999,000 :: 1910 E BAY TREE Court, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 2,493 sq ft
Lot Size: 11,326 sq ft
Added: 08/27/22, Last Updated: 11/16/22
Property Type: Single Family
MLS Number: 6428629
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 11/3/2022 by 5%
Status: Active


Buyer did not qualify ** Highly desirable gated Lakeside Community single level custom waterfront home in Val Vista Lakes ** Spacious entry leads to living room and dining room ** Kitchen features granite counter tops with seating at island, stainless steel appliances, custom wood cabinets and bay window eating area for views of pool and lake ** Remodeled master bathroom features heated floor , huge tiled walk in shower , and vanity seating area ** Walk in closet with shelving for your shoes and great views of swimming pool and lake ** Wall of windows in kitchen/family room overlooks covered patio, beautiful swimming pool and lake ** Large dock for boating or kayaking to clubhouse to swim at the sandy beach pool ** Other extras include solar panels, and new windows on north side of home

Listed with Penfield 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/!


$659,000 :: 1446 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: 11/10/22, Last Updated: 11/15/22
Property Type: Condo/Townhouse/Co-Op
MLS Number: 6483428
Community: TOWNHOMES ON CORAL REEF
Tract: TOWNHOMES ON CORAL REEF
Status: Active


LAKE FRONT PROPERTY! Come see this stunning 3-bed, 3 bath, loft area plus den Coral Reef WATERFRONT home! Featuring a 2 car garage w/built-in cabinets. Enter home from the custom security door to be greeted by the welcoming foyer flowing into the family room. The adjacent open kitchen features white cabinets, custom pantry with drawers, a slab granite island, tile backsplash, SS appliances including a beverage refrigerator. Dramatic curved staircase leads to the dual door main bedroom offering a sitting room, private balcony access overlooking tranquil lake views, lavish en suite w/2 sinks & separate tub and shower.. Lovely backyard with a patio space and an amazing view of the shimmering lake! The owner has added a central vacuum, plantation shutters, landscaping and paint throughout.

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/!


$949,000 :: 1560 W COMMERCE Avenue, Gilbert AZ, 85233

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3 beds, 3 baths
Home size: 2,861 sq ft
Lot Size: 9,584 sq ft
Added: 10/08/22, Last Updated: 11/14/22
Property Type: Single Family
MLS Number: 6474273
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 11/14/2022 by 5%
Status: Active


WATER SKI LAKE FRONT PROPERTY!!, The only home on ARMLS on the water ski lake in the gated community of Play Del Rey. This update to the interior of this home was just completed, new flooring, SS appliances including a new built-in ice maker, trash compactor, microwave, smooth top range, built-in oven and dishwasher. New light fixtures and more. Amazing views across the back of the home of the negavite edge pool with hot tub, fire pots and built in BBQ perfect for entertaining. Ski year round right from your back yard with direct access to the lake from your backyard. 3 car garage with builtin cabinets for lots of storage.

Listed with Kenneth James 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/!


$1,025,000 :: 1700 E LAKESIDE Drive #31, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,158 sq ft
Lot Size: 5,228 sq ft
Added: 08/19/22, Last Updated: 11/11/22
Property Type: Condo/Townhouse/Co-Op
MLS Number: 6452157
Community: BRECKENRIDGE BAY LOT 1-65 TR A-I
Tract: BRECKENRIDGE BAY LOT 1-65 TR A-I
The price of this listing was last reduced on 11/11/2022 by 2%
Status: Active


Highly sought after Breckenridge Bay Waterfront townhouse in Val Vista Lakes. They spared no expense in updating this home starting from the beautiful iron front entrance door into the open foyer with 25 foot ceilings and sweeping staircase. Dramatic slate tile throughout lower level and into the contemporary kitchen overlooking the lake and peaceful back yard. Formal dining room or home office with large picture window with views to the front entrance sanctuary. Family room has huge floor to ceiling sliding glass doors with unrestricted views to the back yard, lake and distant mountains.Sit by the stone fireplace and relax w/friends.Behind the wrought iron staircase you'll find you're personal wine cellar, home office or main floor bedroom and bathroom. Laundry room is on the main level

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/!


$1,100,000 :: 1302 N CRYSTAL SHORES Drive, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,322 sq ft
Lot Size: 10,019 sq ft
Added: 07/15/22, Last Updated: 11/11/22
Property Type: Single Family
MLS Number: 6432185
Community: CRYSTAL SHORES AMD LOT 1-82 TR A-I
Tract: CRYSTAL SHORES AMD LOT 1-82 TR A-I
The price of this listing was last reduced on 11/11/2022 by 8%
Status: Active


Without a doubt - THE BEST DEAL IN GILBERT! The kitchen is an entertainer's dream! Wolf gas stove, Sub-Zero refrigerator, dual Bosch dishwashers, large walk-in pantry, gorgeous granite countertops and huge island with double beveled edge. Kitchen opens out to the main living space and extends to the backyard, covered patio and outdoor kitchen bar area. Gated spool and gated lot provide additional security. Relax on your private balcony off the main upstairs suite and watch a beautiful sunset.This home is a short boat ride or walk to the community clubhouse where you can play a game of pickleball, racquetball, or tennis, swim laps in the Jr Olympic pool or float in the sand lagoon. Resort living is yours with miles of walking paths, community gardens, play

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/!


$875,000 :: 572 E JANET Way, Gilbert AZ, 85297

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5 beds, 4.5 baths
Home size: 3,753 sq ft
Lot Size: 13,504 sq ft
Added: 11/03/22, Last Updated: 11/03/22
Property Type: Single Family
MLS Number: 6482929
Community: LAYTON LAKES PARCEL 1 2ND AMD
Tract: LAYTON LAKES PARCEL 1 2ND AMD
Status: Active


MOTIVATED SELLER! Your dream Oasis waits for you with this gorgeous home in Layton Lakes on a spacious 13,500 sq ft lot. This home boasts over 3700 sq ft and features 5 bedrooms, 4.5 baths as well as a loft and office/den. A large kitchen with a huge dining area, separate dining room, butler's pantry, oversized laundry with outdoor access, living room, and family room round out the downstairs offerings. The oversized three-car garage has been designed for storage and functionality with custom storage options including cabinets, storage racks, and slat wall. It also includes an outlet for an EV car charging station. Relax in the backyard in a 20x40 pool with a grotto water feature and above ground spa without the worry of having neighbors behind you. The neighborhood amenities

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/!


$599,000 :: 1334 W Coral Reef Drive, Gilbert AZ, 85233

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2 beds, 2.5 baths
Home size: 2,048 sq ft
Lot Size: 2,178 sq ft
Added: 09/30/22, Last Updated: 10/30/22
Property Type: Condo/Townhouse/Co-Op
MLS Number: 6471460
Community: The Islands
Tract: The Islands
Status: Active


Beautiful waterfront home located in the desirable Gilbert community ''The Islands''! The Newly updated 1st floor has Brazilian Quartzite countertops in the kitchen, laundry & powder bath. Kitchen includes two ovens, glass cooktop stove, built -in microwave, lg walk-in pantry w/ etched glass door and built-in China cabinet. Luxury flooring includes 24''X24'' tile in downstairs area, wood flooring on stairs/loft area, & new carpet in bedrooms. Master B/R has beautiful lake views with balcony. Master bath has walk-in shower, lg soaking tub, double sinks, vanity area, spacious walk-in closet. Additional balcony located off 2nd b/r and loft area. French doors open to the spacious patio area where you enjoy gorgeous sunsets, kayaking, fishing, boating, lake life at it's best!

Listed with Peak Realty Advisors


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


$1,545,000 :: 1901 E CYPRESS TREE Drive, Gilbert AZ, 85234

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5 beds, 4.5 baths
Home size: 5,196 sq ft
Lot Size: 11,326 sq ft
Added: 09/21/22, Last Updated: 10/13/22
Property Type: Single Family
MLS Number: 6465192
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 10/13/2022 by 3%
Status: Active


Welcome to beautiful Val Vista Lakes featuring your remodeled lakefront dream home. 5 bed, 4.5 bath, 5,000+ sqft, 3 car garage plus a basement. New high-end Anderson windows, new flooring, new bathrooms and a stunning kitchen with large island and gorgeous views of the lake. Whether you want to enjoy a good workout in the gym, watch a movie in the theatre or do crafts in the craft room, this home has it all! The primary suite offers a sitting area, extra large bedroom and 2 custom walk in closets. Head outside to enjoy the grassy yard, pool and your very own boat dock. Taking sunset cruises will be your new favorite way to wind down. Come make 1901 E Cypress Tree your new Home!

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/!


$774,900 :: 501 E Hearne Way, Gilbert AZ, 85234

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4 beds, 3.5 baths
Home size: 3,020 sq ft
Lot Size: 7,406 sq ft
Added: 10/01/22, Last Updated: 10/01/22
Property Type: Single Family
MLS Number: 6471644
Community: Stonebridge Estates
Tract: Stonebridge Estates
Status: Active


Welcome to Stoneridge! Waterfront Home - Amazing views when you walk thru the front door to the lake, Open floor plan, soaring ceilings, Four bedrooms with 3.5 baths, Two owner suites, one up and one the main level. Main floor owner suite has access to the patio, large closets & the upstairs owner suite has it's own private balcony overlooking the lake. Chef's delight kitchen with stainless steel appliances, granite countertops, walk in pantry, separate dining room/living and eat in kitchen, & amazing views of the lake. The family room has a wood burning fireplace to take the chill of on the cool winter evenings. Location, Location, Location - on the lake, walking distance to downtown. Complete home inspection done and repairs made prior to listing home! Check it out!

Listed with RE/MAX Excalibur


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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