. . . . and the Antidote

My mama told me…’you better shop around’
(Shop, shop around) a-whoa-yeah
You better (uh-huh) shop around!
(Shop, shop around)
Uh-uh-uh

–lyrics, “Shop Around”; Smokey Robinson

Home Buyers-turned-mortgage borrowers know that it can pay to shop around on fees (note:  stellar service and industry experience should be the other criteria).

sticker shockSo, too, it can pay off big-time for home owners to talk to more than one hazard insurance underwriter.

Mine had literally trebled my annual premium in less than 8 years of (largely claim-free) ownership — including a 50% jump just this year.

Who says inflation’s dead?

Tweaking Coverages

The solution was to go back to my agent at Edina Realty Insurance, Maria Tatum, who found a much better rate from a more highly-rated company.

Added bonus:  my personal property coverage was set at a ridiculously high $200k.

I wish.

If I had to empty out my house tomorrow, I doubt I could get $20k for everything in it (and that includes perhaps my most valuable possession:  a (now decade-old) Italian espresso maker.

Maria had the personal property coverage significantly lowered, which further reduced the premium.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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