Is your home hard to insure?
“Homes in flood plains, adjacent to wildfire zones and in the likely path of hurricanes can be difficult and expensive to insure. When fire or wind risk is high, many homeowners wind up having to buy coverage plans, which typically provide bare bones coverage with high deductibles. Going without coverage usually is not an option, since mortgage lenders require homeowners insurance and flood insurance in high-risk flood zones. At a minimum, potential buyers should ask to see recent insurance bills to see what they are likely to be charged. Buyers also should keep in mind that if a disaster hits, their premiums could shoot up even higher.”
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