When homebuyers are ready to close on a new home, they may not have thought about home insurance yet. However, scrambling to find the right home insurance at the last minute can lead to delayed closings, given the dire state of the home insurance market. Premiums have been on the rise, and some parts of the country do not have access to home insurance due to severe climate risks.

That’s where embedded home insurance can play a crucial role. Embedded home insurance offers a seamless and integrated experience to homebuyers. By embedding insurance early into the buying process, home builders can help their customers secure affordable home coverage quickly. However, choosing the right insurance partner is crucial. Here are the top six factors to consider when selecting a home insurance partner.

1) Expertise — Insuring new construction homes requires expert knowledge that can only be cultivated through many years of experience. Founded by a home builder more than 70 years ago, Westwood Insurance Agency specializes in home insurance for new construction homes. We work with many of the country’s top builders, and we have grown into one of the largest personal lines agencies in the country.

Coverage Options — A home insurance partner should offer tailored coverage options to homebuyers to ensure their specific needs are met. Once homebuyers sign a contract to purchase a new home, Westwood sends a personalized quote to them within 24 hours. With access to an online portal, buyers can review their home quote and secure a policy within minutes, all online. Licensed Westwood agents are available to help buyers choose the right policy, too.

2) Westwood works with more than 40 insurance companies to offer the right coverage options for new construction homes, eliminating the need for buyers to shop around for more quotes. We quote more than half of all new homes built each year. Once homebuyers finalize a policy, we send the evidence of insurance directly to the lender.

3) Customer Service — Providing exceptional customer service is central to creating a positive insurance experience. At Westwood, we believe in forming strong, long-lasting relationships with our customers for years to come. This means taking care of them when they file a home claim or call our customer support center for general questions about their home policy. This is why we have achieved a Net Promoter Score of 90 for several years in a row and a 9.6 customer satisfaction score. When customers are happy with their home insurance provider, it reflects well on the home builder that made this connection possible.

4) Technology Integration — The ability to seamlessly integrate with the home builder's existing systems can streamline the process and improve the customer experience. Westwood’s proprietary technology can be deployed in a few short weeks and enables builders to provide a seamless insurance program to their homebuyers. We have access to the information we need to pre-underwrite the homes and provide a quote instantly, ensuring that home closings happen on time.

5) Affordability — With rising home insurance premiums, insuring a home has become unaffordable for many homeowners throughout the country. However, even in this tough home insurance market, Westwood can save our customers $200 a year, on average. Maximum discounts are available for new homes, too.   

Because home insurance is integrated into the buying process from the start, homebuyers understand how the cost of insurance will affect their total monthly payment. This critical piece of information can be the difference between a delayed closing or an on-time closing.

6) Availability — With major insurance carriers leaving many states, it has been a challenge for homeowners to secure home insurance. Having an insurance partner who is able to insure new construction homes, no matter the location, is critical. Westwood is licensed in all 50 states and has a market for more than 99% of all communities nationwide. We have insured more than one million homes, and we help builders close more than 100,000 new homes each year.

Choosing the right home insurance partner is a strategic decision that can significantly impact a home builder’s business and the home buying experience for their customers. Securing home insurance shouldn’t be a difficult and time-consuming process. Instead, embedding home insurance upfront by working with the right insurance partner can streamline the process and help close the deal. Homebuyers will appreciate this service, and home builders can differentiate themselves from the competition. It’s a value proposition that benefits both parties.

At Westwood, providing home insurance for new homes is our specialty. We understand the challenges that home builders face, and we aim to leverage our expertise to help builders offer a positive home insurance experience to their customers.  

To learn more about how you can partner with Westwood, please visit westwoodinsurance.com/partners/builders.