True Confessions: Are You Overpaying for Insurance?

Welcome back to True Confessions from your trusted real estate professionals. Today, I want to share a story that could save homeowners thousands of dollars.

A friend of mine owns a home in a flood zone. Like many homeowners, they purchased flood insurance when they bought the property. For five years, they faithfully paid their premium—over $5,000 a year, nearly $600 a month—without realizing they were grossly overpaying.

Here’s why: their policy covered the entire home, when in reality, they only needed coverage for the basement. After connecting with the right insurance professional, they were able to adjust their coverage, bundle their home and auto insurance, and the results were staggering—they’re now saving $17,000 a year.

The lesson here? Don’t set and forget your insurance policies. If you’re a homeowner, take the time to:

• Call your insurance agent and review your policy annually.

• If you’re not satisfied with their answer, get a second opinion from another agent or broker.

• Lean on your trusted real estate professional for referrals—we work with insurance experts every day and know who provides honest, competitive service.

Insurance is one of those “hidden costs” of homeownership that often gets overlooked, but a quick review could mean real savings for your family.

So today’s tip is simple: check your insurance policy. You may be surprised at how much you can save.