Why You Should Look Into Homeowners Insurance Before You Commit to a Purchase
Tuesday Feb 28th, 2023
You might get denied if you apply for homeowners insurance for a new house. That’s why you should conduct research before you agree to buy.
An insurance company may refuse to approve a policy for a house that’s at risk for natural disasters or crime or that’s difficult for first responders to reach.
If a house is old and in bad condition, you might not be able to get a standard homeowners insurance policy and end up with one that covers less and costs more.
A mortgage lender won’t give you money to buy a house if it isn’t insured.
Check your insurance options before purchasing a home, especially if there is reason to believe that you may have trouble getting coverage.