What Is High-Risk Home Insurance?

A home insurance policy is basically a promise from the provider to pay the expenses related to a covered loss. However, some homeowners and homes are much riskier to insure. In fact, if you are considered high-risk, it may be difficult for you to get approval for home insurance coverage. The agents at Highpoint Insurance Group have experience in dealing with homeowners at every risk level.

High-Risk Home Insurance Explained

High-risk home insurance is a form of property insurance that provides coverage for homes that are deemed risky to insure. The house itself can be high risk, or the homeowner can be high risk depending on a number of different factors. High-risk home insurance makes it possible for homeowners to obtain the coverage that they need in order to protect their homes and satisfy the demands of their mortgage lender as well.

How Do You Qualify for High-Risk Home Insurance?

If you have ever been denied approval for home insurance in Dadeville, AL, the reason may be because you are considered to be too risky to insure. In general, the insurance provider will take a look at the applicant’s background as well as the home itself in order to determine the risk level. Some reasons that a homeowner may be considered high risk include:

  • Having a criminal record
  • Owning an aggressive dog
  • Having poor credit
  • Having a history of filing insurance claims

Homes that are high risk are more likely to require a claim to be filed because something could easily become damaged or require replacement. Some reasons that a house may be considered high risk include:

  • A weak foundation or structural issues
  • An old roof
  • The home itself is old
  • Located in a high-risk area for crime or weather
  • A vacation home that is frequently vacant

If you are having trouble getting approved for home insurance in Dadeville AL, it may be because you are at high risk. To find out how to get the coverage that you need, contact Highpoint Insurance Group today.

Alabama Home Insurance – What You Need To Know About Home Insurance

We’ve all read these types of sad reports in the news at some point in our lives.  Calamities such as a robbery or a fire cause a total loss of the home, and the homeowner neglected to have any homeowners insurance.  Nobody wants to lose everything that they’ve worked so hard to achieve, not to mention losing irreplaceable items such as family heirlooms and pictures.  The best defense against becoming one of these sad stories in the future is to purchase home insurance coverage for your home.  For your home insurance needs, Highpoint Insurance Group in Dadeville, AL has options available for you.

Home Insurance

Home Insurance in Alabama has base-level coverage that is required if you have a mortgage affixed to the home.  These coverage limits can be raised to any amount that you feel would cover the worth of the home and the items located within.  Keep in mind that the higher the coverage limit, the higher the monthly premiums will be in relation to your policy.  The base-level policy will cover all items inside the home and just outside (anything affixed to the building) of it from damage, fire, and theft.  Alabama is known for tornadoes and storm damage, so it would be prudent to also purchase flood insurance as a rider or additional coverage along with your regular home insurance coverage.  The only event that wouldn’t be covered under any plan is an “act of god” such as earthquakes, which are extremely rare in Alabama.

Liability Coverage

You can also purchase liability coverage to cover the entirety of your property which will cover you under certain circumstances.  These circumstances are in relation to visitors to your home who trip and fall outside and get injured on your property.  It’s always a good idea to be covered under any possible circumstance as you never know what will happen in Life.

Further Information

To learn more about home insurance in Alabama, please contact Highpoint Insurance Group in Dadeville, AL today!

Who should get home insurance in Alabama?

The Dadeville, AL area has continued to be a great place for people to own a home. If you are going to purchase a home here, you will want to know that it is protected. One of the best ways that anyone can easily protect their home is by getting home insurance. There are many situations when getting a home insurance policy will be a good idea for people in this area of Alabama. 

Those that Want to be Protected

One situation when someone should get home insurance for their property is when they want to be protected. There is no better way to protect your valuable assets than by getting home insurance. When you get this type of coverage, it will provide you with the protection needed to repair or rebuild your property if it is damaged. Additionally, you can receive coverage to repair or replace your personal assets and give you liability protection. 

Those Looking to be in Compliance

You should also get home insurance if you want to comply with all of your obligations. Those who take out a mortgage or live in a home association will have different home insurance requirements. When you get the right coverage, you will be able to stay in compliance with these obligations. 

If you are going to purchase a home in the Dadeville, AL area, you should call the Highpoint Insurance Group team. Many factors need to be considered when looking for a new home insurance plan. If you are looking for a new policy here, it would be wise to call Highpoint Insurance Group as they can offer you the services needed to understand your needs and options. This will ensure you pick a policy that properly protects your home. 

What First-Time Homebuyers Need to Know About Home Insurance

If you are considering buying a home, or if you just bought one, congratulations. For most people, homeownership will be the biggest investment in their lives. Naturally, you will want to protect your investment in ways that are effective and make sense. Work with your agent at High Point Insurance Group, serving Dadeville, AL, and the surrounding area. Your agent will explain the details about home insurance and other things that you need to consider.

Here are the basics you need to know:

  • Deductible: Home insurance may have a deductible, which is the amount of money that will have to be paid by you before the insurance will pay on a valid claim. Having a higher deductible usually reduces the monthly premium, but you will need to have more cash available to pay for things if something goes wrong.
  • Premiums: Premiums are usually paid monthly and should be set up on an automatic payment system to make sure they are always paid on time, and there is never a lapse in insurance coverage.
  • Flood Insurance: Flood insurance is usually not included in a home insurance policy and needs to be considered as a separate policy.
  • Replacement Cost:¬†Replacement cost insurance provides for the payment of valid claim up to the policy limit to replace all or part of a home. If the limit is adequate, it should cover all the costs to rebuild a home that is destroyed.
  • Actual Cost: Actual cost is what the home is worth. This is usually lower than the replacement cost, meaning replacement cost coverage is better.
  • Commercial Activity: Home insurance usually does not cover any commercial activity, including renting out a room or having a home office. If¬†you plan to do any business in your home, then talk to your agent about also getting commercial insurance.
  • Life and Disability Insurance: It is a wise strategy to also carry life insurance for the amount needed to pay off the mortgage on the home if the earning member(s) of the family is permanently disabled or dies. This allows the rest of the family to be protected.

Contact your agent at High Point Insurance Group in Dadeville, AL to discuss your specific needs and get a quote for home insurance and any other insurance that you need for protection.