Contributors Page
Contact Me: scott@statestreetinsurance.com
Scott Richardson is the owner of State Street Insurance. A 30 agent in the Insurance Business he is also the current Chairman of the Board of the Bellingham/Whatcom Chamber of Commerace and Industry.(2009)
Scott served 10 years on the State Board for the National Association of Insurance and Financel Advisors-Washington and currently is on a task force of Business Leaders involving Health Care with the Office of the Insurance Commissioner.
Also be sure to visit: http://www.statestreetinsurance.com/
My Posts
Insurance 101- The Learning Curve Series: Landlord Policy
You bought a property and you are going to Rent it to some Tenant. This is what we in The Industry call a non-owner occupied property. You are now a Landlord, a Small Business Owner and need to treat the property as a Business Owner. The insurance you need for this risk if a 4 unit or less Residential Dwelling is a Landlord Insurance Policy. You face risks just like a Home Owner for fire, and other... [Read more]
Insurance 101- The Learning Curve Series: What is Insurance Anyway?
Think of Insurance as a pool of money that is available to scoop up if certain events occur. Those Events or Perils are in an agreement called the Insurance Policy. The Insurance Policy is a Ccontract that is unilateral (one sided) and is written by the Insurance Company. You the Insured agree to this Contract and the provisions written in it, does this means you should read the policy? YES please... [Read more]
Insurance 101- The Learning Curve Series: Earthquake Insurance
Recent studies in the past few years has suggested that Washington State has a greater chance of major Earthquake Events than were previously thought. Most Insurance Contracts exclude Earthquake Damage as a covered peril. If you are concerned about damage from an Earthquake and the affect this may have on your financial world, call your agent to find how much an Earthquake policy would cost you. Earthquake... [Read more]
Insurance 101- The Learning Curve Series: Insurance Review
OK, so you did buy that home and you just got your new Insurance Policy in the mail. Now what? Call the agent and set up an Insurance Review. You may have gone over the high lights of the policy when you applied for coverage, but now is the time to make sure your policy includes all the right coverage. I didn’t say wrong coverage, I mean are the coverages, limits, features, and benefits the... [Read more]
Insurance 101-The Learning Curve Series: Insurance Inspection, Why?
I just paid to have an inspector look at the home and the lender approved my home but the Insurance Company also inspected the Home and says I have to remove the moss, Whats going on? Buyers please remember that the two inspections are for different reasons, For example the inspection for the loan might note there is excess wear on the roof or that there is moss on the roof. The roof will last a few... [Read more]
Insurance 101-The Learning Curve Series: How to Shop for Home Insurance
What do you look for when shopping for Home Insurance? Most people just look at the cost and think all Home Insurance policies are exactly the same. This is not true. Look for these variables. Coverage, this is the easiest part. Is the limit of coverage for the dwelling enough to rebuild it? Features, do you want add on features that broaden the coverages in the policy? Benifits, does the policy provide... [Read more]
Insurance 101- The Learning Curve Series: What Factors Make Up My Insurance Pricing?
There are many Factors the go into the Pricing of an Insurance Policy. Some of these are age of the home, location to fire protection, condition of the structure, presence of hazards, Insurance Scoring which may include credit, prior claim history, and building materials. Many companies give great discounts for having protection such as smoke alarms, deadbolt locks, and fire extinguishers. Also discounts... [Read more]
Insurance 101- The Learning Curve Series: Insurance Binders
What is a binder and why do I need one? When you are buying a piece of Real Estate you typically leverage your purchase and put some of your money as a down payment and secure the balance with a Mortgage. The lender wants to make sure you that you are a good risk and that the property is protected in the event of a loss so they don’t lose the money they loaned you. This is their investment... [Read more]
Insurance 101-The Learning Curve Series: Renters Insurance
Why this topic on a Real Estate Web Page? It is important to know that either while waiting to purchase a home or if you sell your home and you are in flux to get another home you still have insurance needs. A Renters Insurance policy is a Contents and Liability policy that provides Valuable protection. Look up Home Insurance in this series and think about Renters Insurance as a Home Insurance policy... [Read more]
Insurance 101 - The Learning Curve Series: Flood Insurance
What is a flood and does my Home Insurance cover it? This is a question we get all the time in the fall and spring. First what is a flood? Water seepage, broken pipes, and washing machine overflows are not floods. To see if damage from these perils are covered give your agent a call. A flood has a definition and is paraphrased as water covering land that is normally dry and involves 2 or more connected... [Read more]
