Risk of hurricanes can make homeowners insurance complicated. It’s very important to find out a house’s insurability before buying. Because when you don’t, you can end up paying several thousands more than what you expect. The advices below apply to homebuyers in states that are at risk for hurricanes.
Ask for a wind mitigation inspection before buying
This inspection includes the shape and age of the roof, the size of the nails, the device used to hold the trusses to the walls and whether the home has hurricane shutters or impact glass. The cost of the insurance for a home without wind mitigation features could be four times higher than a home with wind mitigation.
The Comprehensive Loss Underwriting Exchance report
This is the database which insurers share information about home insurance claims to help identify a property’s risks. You need to check that report before buying the house. You can always order the report for $19.50 at the CLUE Home Seller’s Disclosure Report page.
Learn about flood coverage
Your mortgage company will require to you to get flood coverage, however the flood coverage is not covered by homeowners insurance. Ask your insurance agent about your options. The price can vary a lot by insurer.
Improve your home
You can always make improvements for your home to make sure it’s protected. These improvements will reduce the insurance rate. Replacing the roof with hurricane shutters can even cut your insurance premiums in half.