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.