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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$415,000 :: 502 S PUEBLO Street, Gilbert AZ, 85233

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3 beds, 2 baths
Home size: 2,033 sq ft
Lot Size: 6,970 sq ft
Added: 11/21/20, Last Updated: 11/21/20
Property Type: Single Family
MLS Number: 6163553
Community: PARCELS 8 & 9 OF LAGO ESTANCIA LOT 1-90 TR A-J
Tract: PARCELS 8 & 9 OF LAGO ESTANCIA LOT 1-90 TR A-J
Status: Active


Beautiful Lake neighborhood. Corner lot backing to the lake. Relax in the pool and watch the ducks on the lake. Home has a great layout with a large master suite. Room for the toys in the large 3 car garage!! 3 bedrooms PLUS an office. Tile throughout except in 2 bedrooms. Great location near downtown Gilbert and easy access to SanTan Village, 202, 60, and 101. Tons of shopping and restaurants nearby. Enjoy a walking trail right out back around the lake and the canal trail is nearby for biking, walking, running.

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/!


$669,900 :: 1038 E CULLUMBER Street, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 2,855 sq ft
Lot Size: 10,890 sq ft
Added: 11/20/20, Last Updated: 11/20/20
Property Type: Single Family
MLS Number: 6161985
Community: SOUTHERN SHORES AT WIND DRIFT
Tract: SOUTHERN SHORES AT WIND DRIFT
Status: Active


No cookie cutter here. This custom Lakefront property spared no expense. Travertine flooring throughout most of main level set in Villa Pattern. Custom kitchen with live edge granite counters, oversized island, woven travertine backsplash and loads of cabinet space. Family room features tumbled travertine fireplace w/matching granite hearth and columns that light up from the inside with stone inlay. Even the windowsills are matching granite. Enjoy morning coffee looking out on your lake view. Large master with vaulted ceilings and sitting area with access to pool and private patio. Travertine raised tub and shower and stacked stone wall with custom mirrors. Living room with soaring ceilings and French doors to pool area. Formal dining includes wet bar with wine rack and wine

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/!


$499,900 :: 1417 W CORAL REEF Drive, Gilbert AZ, 85233

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3 beds, 3.5 baths
Home size: 2,164 sq ft
Lot Size: 2,178 sq ft
Added: 11/05/20, Last Updated: 11/19/20
Property Type: Condo/Townhouse/Co-Op
MLS Number: 6154420
Community: TOWNHOMES ON CORAL REEF
Tract: TOWNHOMES ON CORAL REEF
The price of this listing was last reduced on 11/19/2020 by 3%
Status: Active


WATERFRONT HOME W/ APPROX. 140 LN FT OF SPECTACULAR WATER & SUNSET VIEWS! Additionally, this home has been significantly upgraded over the last 4 years and is primed entertaining. It features newer tile roof underlayment; newer windows & sliding doors; remodeled master bath large shower; newer flooring throughout; custom tile entryway; remodeled powder bath w/ custom vanity and tile; newer upgraded baseboards downstairs; newer custom paint throughout; newer custom plantation shutters; electrical ran to dock; newer upgraded garage door opener; and so much more. This is a corner lot with water views from every room, two patios, and a private dock. The HOA takes care of the yard work and community pool. This is resort style living in The Islands. MUST SEE!

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/!


$290,000 :: 1684 E BRIDGEPORT Parkway, Gilbert AZ, 85295

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2 beds, 2.5 baths
Home size: 1,342 sq ft
Lot Size: 436 sq ft
Added: 11/19/20, Last Updated: 11/19/20
Property Type: Condo/Townhouse/Co-Op
MLS Number: 6161417
Community: VAL VISTA CLASSIC PARCEL 1 CONDO BLKS 1 32-34
Tract: VAL VISTA CLASSIC PARCEL 1 CONDO BLKS 1 32-34
Status: Active


This super clean 2 bedrooms plus den (which could easily be converted to a 3rd bedroom just needs a closet) has some amazing finishes with wood floors, granite countertops, custom paint and custom window coverings this previous model home has been upgrades galore.Great location, with easy access to 202 fwy, San Tan mall, Trader Joes and Sprouts lots of dining options. This gated community is a little slice of heaven with lake views.

Listed with Perkinson 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/!


$589,000 :: 1248 N PALMSPRINGS Drive, Gilbert AZ, 85234

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3 beds, 2.5 baths
Home size: 2,083 sq ft
Lot Size: 6,534 sq ft
Added: 10/22/20, Last Updated: 11/14/20
Property Type: Single Family
MLS Number: 6147466
Community: LANDING 2 AT VAL VISTA LAKES LOT 1-66 TR A-C
Tract: LANDING 2 AT VAL VISTA LAKES LOT 1-66 TR A-C
The price of this listing was last reduced on 11/14/2020 by 5%
Status: Active


REDUCED! WATERFRONT LOT! SPECTACULAR REGATTA LAKE VIEW! A former model home w/3BR+loft. Casual elegance in LR/DR with plantation shutters, vaulted ceilings & a gracious stairway. Family room boasts a fireplace. Kitchen has solid surface counters. Relax on the 2nd story balcony w/awesome views of the lake. The garage has professionally installed epoxy floors and cabinets. Backyard features heated play pool and flagstone. Enjoy the amenities which include the multi-million dollar clubhouse, heated pool, sandy beach, tennis, racquetball, weight room., banquet areas, plus 4 lakes and many walking paths w/low HOA. Great Gilbert schools.Thank you!

Listed with LRA Real Estate 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/!


$436,900 :: 1405 W MEADOW GREEN Lane, Gilbert AZ, 85233

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3 beds, 2.5 baths
Home size: 2,156 sq ft
Lot Size: 3,921 sq ft
Added: 11/08/20, Last Updated: 11/08/20
Property Type: Single Family
MLS Number: 6157920
Community: CORAL POINT REPLAT LOT 76-101
Tract: CORAL POINT REPLAT LOT 76-101
Status: Active


Enjoy resort-style living in this luxurious 3 bedroom, 2.5 bathroom home in The Islands community of Gilbert! The interior of this home boasts vaulted ceilings, a formal dining room, and a kitchen with stainless steel appliances. You will love relaxing in the primary bedroom which features a sunny bay window, en suite bathroom, walk-in closet, and direct access to a second-floor balcony. The remaining bedrooms and spacious loft provide ample space for family, guests, or a home office. The grassy backyard and covered patio are perfect for outdoor activities. The Island community offers amazing amenities and access to 80 acres of lakes.

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/!


$2,000,000 :: 193 N SKI Court, Gilbert AZ, 85233

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5 beds, 7 baths
Home size: 6,700 sq ft
Lot Size: 20,038 sq ft
Added: 11/02/20, Last Updated: 11/02/20
Property Type: Single Family
MLS Number: 6155305
Community: CRYSTAL POINT ESTATES AMD LOT 1-20 TR A-H
Tract: CRYSTAL POINT ESTATES AMD LOT 1-20 TR A-H
Status: Active


Resort style living. Freshly remodeled Custom Home on a private water ski lake. Water ski, wakeboard, sail or paddle just out your back door. New limestone walkways lead you to iron doors that open to a 21' tall foyer & great room. A fantastic view of the pool & lake thru a wall of glass. Master Suite, private office & guest bedroom are on first floor. All bedrooms have their own full bath. Enjoy: Quartzite counters w/maple cabinets & 2 islands . Built in SS refer, ovens, warming draw, 6 burner cooktop, DW & prep sink. The home boasts: An oversize 5 car garage. Bonus Room w/ wet bar & pool table. Covered patios & balcony w/ bbq, hood & sink. Covered boat dock w/ lift, sink & refer. Storage building for pool & lake toys. Remodeled pool and spa. Commercial misters. Outdoor shower. Etc.

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/!


$759,000 :: 2135 E CLIPPER Lane, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 3,514 sq ft
Lot Size: 10,019 sq ft
Added: 08/10/20, Last Updated: 09/11/20
Property Type: Single Family
MLS Number: 6115579
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 9/11/2020 by 2%
Status: Active


Incredible fully custom home located in the desirable Regatta gated community of Val Vista Lakes. Italian Mediterranean style w/ beautiful imported white carrara marble flooring, coffered ceilings & elegant interior columns. Built at cost of nearly $1,000,000. Gorgeous water views from all interior rooms and large outdoor balcony. Beautiful hand-painted canvas murals available for purchase. Luxurious master suite on ground floor. Kitchen features upgraded cabinets and granite counter tops. Separate living and family rooms. Domed ceiling with mood lighting. Two-way fireplace. Fruit trees including delicious oranges, lemons & figs. Amazing clubhouse w/ fitness, tennis, racquetball, pools with sandy beach, and lots more. Check out the Visual Tour for incredible views of home and water

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/!


 

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