Three Hidden Insurance Costs When New Home Shopping

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The real estate market is booming all across the country. All types of homes fly off the market as soon as they are listed (or within the first week). This sales rush is creating a lack of supply of good homes. Hasty buyers are often overlooking simple things that may wind up costing them substantially over the long haul. We have compiled a list of three things to look out for while searching for that new dream home.

1. Proximity to brush. In states like California, Oregon, and Colorado, a home’s exposure to lots of acreage of shrub brush can be a potential fire risk. Possible brush fires are one of the main factors in how much homeowners insurance might cost for that reason. Insurance carriers are particular when rating a specific home’s risk factors. Things like overhanging trees and clearing space between the house and brush can make or break the deal when carriers weigh their options. The best way to know how much homeowners insurance will run at a specific address is to use our free rate calculator at . We can help you gauge how much you would pay if you purchased that particular home. Just use our online calculator for a stress-free estimate before you look further. Brush Fire in Insurance Risk

2. Unfenced pools and waterslides. While pools are a huge attraction to any home, you must make sure that they are well protected and safety precautions in place. Some carriers will not insure a pool with a waterslide or add a good amount of premium to do so. Upon inspection, underwrites and carriers may also require that a fence surround the pool to make the inherent risk insurable.

Insurance Risk Pool Slide

3. Roof, plumbing, and electrical factors. When deciding if you want to make an offer on that perfect home, you should ask the realtor who had listed the property when the roof, plumbing, and electrical were all updated. In an ideal world, it would be nice to see all of those updated within the last ten years and be sure that the home has modern circuit breakers rather than outdated fuses. Copper plumbing vs. outdated lead pipes, and also keep clear of wooden shake roofs.

We hope these three points will help avoid any costly surprises you may incur after making that dream purchase of your new home.

Happy shopping!

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