Loans By Kathy: GA Increased Home Owner's Insurance premiums

GA Increased Home Owner's Insurance premiums

Georgia has experienced an increase in home owner's insurance premiums as of June 1, 2011. Yes, this spring we (GA residents) have experienced an unusually high number of severe storms and tornados.  Due to all of the damage caused by these storms that have passed through the state we all will be paying a higher price for our insurance coverage. 

Now you may be asking yourself, why is Kathy blogging about this subject.  Well, there is a good reason.  Home buyers that are "in process" may experience a surprise when it comes to funds necessary for closing unless you are proactive.

So, if you are buying a new home and have already shopped for your insurance but have not closed the loan yet, I recommend you check with your insurance agent to confirm the cost of your policy. 

Keep in mind your escrow accounts will include 1 one year pre-paid home owner's insurance policy and the funds to establish your escrow account.

 

 

 

 

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Kathy Sheehan Senior Loan Officer

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770.634.4021

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Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

Comment balloon 1 commentKathy Sheehan • June 15 2011 06:20PM

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Wow, Kathy this is great information to get out there to GA residents!  Let's hope the rates don't go too high!

And also don't forget to remind them to get their C.L.U.E report too!  You just never know...

Great info for a local post!
Pamela

Posted by Lee & Pamela St. Peter, Making Connections to Success in Real Estate (Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522) about 7 years ago

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