You may think that your insurance agent is one of the last people you need to consult when shopping for a home. But you should consider viewing us as an important partner in the home buying process, much like your real estate agent and mortgage lender.
Why? Some homes cost significantly more to insure than others, which can drive up your monthly house payment. In other cases, some homes are difficult to insure or there may be required repairs before you can get coverage. That’s something you don’t want to find out a day or two before you’re scheduled to close. Here are some types of properties that can be more difficult to insure:
Distressed homes. Bank-owned properties can be great deals. But they also can have a number of issues, such as peeling paint, rotting wood, a roof that needs to be replaced or a crumbling patio. In some cases, damage may have to be addressed before the property would qualify for homeowners insurance coverage.
Older homes. Older heating, cooling and wiring systems or anything that doesn’t meet construction code could be a concern.
Homes with safety issues. Some homes have safety concerns, such as stairs and steps without handrails or a lack of fencing around swimming pools.
A home with a long history of homeowners claims and homes in disaster-prone areas also could be an issue. That’s why a quick call to us when you find a home you’re thinking of buying is a good first step. Happy house hunting!