Insure My Closing, a new insurance program that provides expense coverage due to closing delays for homebuyers, is now available in 28 states. Offered exclusively through Norman-Spencer Agency and backed by an A++ rated carrier, the program provides homebuyers the ability to receive reimbursement for lodging, storage, meals and pet boarding expenses as a result of a delayed real estate closing.
Based on the research from the National Association of REALTORS®, approximately 25 percent of residential real estate transactions experience closing delays. Paul Hayes, developer of Insure My Closing and a Pennsylvania REALTOR®, experienced this firsthand and saw the opportunity to protect his clients.
“Conversations with homebuyers are difficult when delays happen because it’s difficult to hold anyone accountable for the increased expenses a buyer may experience due to a delay,” says Hayes. “With Insure My Closing, we built the proper solution for the real estate community to offer homebuyers to protect against certain unexpected expenses and give some peace of mind as they enter a real estate transaction.”
Pricing begins at $199 and is based on overall policy limits and transaction timeline. Expansion into all 50 states is planned for early 2020.
For more information, please visit www.insuremyclosing.com.