Insurance that pays when home values drop

Services for Real Estate Pros - Wiles Insurance Agency, LTD


Steve Wiles has not posted any blogs at this time. Please select another month.

Steve Wiles

local_phone(614) 536-0370
Contact The Author
Home Value Protection is insurance that protects you against real estate market volatility. It’s relief from the burden of wondering how your hard-earned investment—your home—will fare if the market takes a turn for the worse. With a Home Value Protection insurance policy, if home values go down and you sell your home for less than what it is insured for, you're protected. Protecting your home is easy. At the start of the policy, the amount of insurance coverage is established - this is known as the Protected Home ValueTM. When it's time to move, if the local housing market is down, as measured by the Case-Shiller® Home Price Index, and you sell your home for less than the Protected Home Value, you are eligible for a claim. Home Value Protection is a smart, affordable way to keep your home’s value where it belongs—in your home. This is a new product that has been recently approved for sale in the State of Ohio. I am interested in hearing the response of real estate professionals and home owner's to this new products. Is it something that: 1. Might help a real estate agent sell a home if the purchaser likes the house , but is concerned about a decline in market values. 2. A new home buyer would be willing buy to protect future market declines. 3. An existing home owner's would buy to protect against further declines in the housing market. Or is there no concern out there that the housing market will decline further in the next 3-5 years.