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Insurance for first-time homebuyers unfamiliar with the complexities of home insurance .
By embedding insurance directly into the homebuying process , builders can alleviate these pain points for their customers . Builders who integrate insurance allow their customers to obtain a competitive quote during the signing of the purchase agreement , supplying them the expected insurance cost right at the beginning . This saves time for both builders and their buyers and takes care of the insurance step up front , providing confidence and certainty during a challenging market . At a time when the cost and availability of insurance may impact whether a buyer can move forward with the purchase , the price of coverage may be crucial information .
More builders of all sizes are starting to incorporate embedded insurance into new home purchases to enhance the customer experience and help buyers secure insurance early in the homebuying process . Homebuyers appreciate this service , and builders can establish buyer trust and differentiate themselves from the competition . the information needed to pre-underwrite the home and provide an instant quote
5 . High customer service ratings , such as the Net Promoter Score . An insurance agency stays with customers through the life of their policies and providing exceptional service is central to maintaining a positive insurance experience
Embedded home insurance represents a significant opportunity for builders to enhance their service offerings and simplify the homebuying process . By integrating home insurance directly into the purchase journey , builders can help their buyers secure coverage more easily and efficiently , enhancing customer satisfaction and fostering stronger relationships . Given the challenging market conditions , embracing innovations like embedded insurance will be key to staying competitive and meeting the changing needs of homebuyers . ■
For a list of the sources used in this article , please contact the editor .
What to look for in an insurance agency partner
Builders who want to move to an embedded model should start by choosing an experienced home insurance partner . The right agency can significantly impact a builder ’ s business and the overall homebuying experience for customers . Look for an established agency with : 1 . Deep experience in the home building industry 2 . Coverage available in all states 3 . Competitively priced policies , even in the toughest markets 4 . Technology capabilities to link to a builder ’ s system and access all
Alan Umaly westwoodinsurance . com
Alan Umaly is the President of Westwood Insurance Agency , a leading , full-service personal lines agency specializing in builder-sourced homeowners insurance . Established in 1952 , Westwood has served more than one million homeowners through relationships with dozens of the country ’ s top home builders . It can offer insurance to more than 99 percent of the communities built by these builders by working with over 40 leading insurance companies . Westwood ’ s unique platform facilitates seamless home closings by connecting builders , carriers , lenders , and homebuyers with click-to-bind technology .
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