High Risk Home Insurance

What is High Risk Home Insurance?

 

Are you in need of homeowners insurance? It’s quite possible that you could spend hours of your life shopping around for a new homeowner’s policy, only to find out that your turned down and you are in need of high risk home insurance. This may seem scary at first, but please recognize that high risk property insurance is not the end of the world.

 

 

We can help you acquire high risk homeowner’s insurance quotes very easily. Cheap home insurance is a definite possibility, even if the providers deem you as high risk.

 

The best way to get home insurance quotes is simple. Fill out the contact form on this website and send in your personal information. We will share this with our partner insurance providers and they will email you detailed quotes based upon your needs.

 

Would you like to learn more about high risk home insurance? We’ll tell you why you may fall under this category so that you are better prepared.

 

Is Your Home Considered High-Risk?

 

There are a number of reasons why your home might fall under the category of high-risk. If your home is currently under construction and there is a lot of work being done at the location, insurance providers will look upon your new property as high-risk.

 

If you happen to own a building with a flat roof, timber framed buildings, thatched properties, prefabricated homes, steel frame homes, a home with asbestos or you are undergoing a major renovation, insurance providers will also potentially look at your property as a high risk location.

 

What does this mean?

 

Well, it could mean a number of things.

 

First of all, some insurance providers may not want to insure you. They may feel that it’s too risky to provide you with coverage, so they will potentially pass on the opportunity.

 

Second, some providers might feel that they have to charge you more because of your high risk status. Remember, this will not happen with every provider so it’s always best to shop around to get quotes from multiple locations before making your final decision.

 

Lastly, you may find the occasional insurance company that will do absolutely nothing because of the high risk status. They’ll provide regular insurance at a normal rate and this is exactly what you’re looking for if your property is similar to the situations mentioned above.

 

Does Property Location Play a Role in Risk Factors?

 

Yes, property location definitely plays a part in determining whether or not your home is at risk. Here’s what happens…

 

If your property is within a flood plain, it is certainly considered high-risk. The odds of your home flooding are much greater than homes in better circumstances. So this risk factor is definitely a reason why an insurance company might charge more.

 

The same goes for owning a property in a high crime area. The odds of your home being broken into and burglarized are much greater. Your home could experience damage easier than it will in a more friendly location. This is a factor that insurance companies look into when determining the cost of insurance for any home.

 

Other Factors That Could Potentially Make Your Home High-Risk

 

There are a few other things to note, including:

 

· Leaving a property empty – if your property is empty and unattended for any length of time of 30 days or more, you’re required to disclose this information to the insurers. This may deem your property as a higher risk.

 

· Working from home – if you work from home on a regular basis, you are supposed to inform the insurance company of this fact. Homeowners insurance does not cover business content, so it’s important to let your insurer know about this development.

 

· Vacation homes – this is not covered by standard homeowners insurance. Vacation homes have their own set of risk factors, and things like renters insurance and temporary occupancy come into the picture.

 

In the end, if you’re looking for high quality home insurance at an affordable price, we can help. Fill out the contact form and send in your information and our partners will get back to you shortly.

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