Are you looking for home insurance policy or wondering about which kind of properties can be harder to insure? Check out this list of important issues that you might have to deal with when contacting a home insurance company.
1. Poor Fire Coverage or Not Enough Fire Resources
Home insurance companies will want to know that common-sense fire safety equipment is installed in a home or property. This includes smoke detectors, fire extinguishers and other basics. Properties are also easier to insure when there are nearby hydrants and a well-rated local fire company.
2. Underground Tanks
Insurance companies will often ask whether there is an underground tank on a property. Underground fuel tanks can be an environmental liability and contribute to some specific property insurance risks that can push up policies or make it harder to get a home or other building covered.
3. Old Wiring
An antiquated sort of electrical work called knob and tube wiring is also a red flag for inspectors and anyone else looking at the viability of a property. It's also going to show up in home insurance underwriting. Take a look and make sure that electrical work is in good condition before trying to insure a property.
4. Ivy and Climbing Plants
Home insurance companies can also consider widespread ivy to be a liability, especially if it's already established a hold on the building. Over time, ivy will creep into downspouts or gutters, displace different types of home systems, and cause lots of potential problems.
5. Old-Growth Trees
Trees that are too close to a building or in poor condition can also cause problems for home insurance policies. In general, trees need to be maintained and evaluated to keep homes and other buildings in a decent state of repair.
6. Multiple Buildings
Home insurance companies may also assess any outbuildings or fencing and consider how different elements of a property might interact with each other. For example, two buildings built excessively close together can raise liability and make it hard to insure a property.
7. Surrounding Areas
In some cases, some of the problems that homeowners run into in underwriting are related to areas around the property such as a vacant lot, abandoned building or some sort of industrial property that may have an effect on neighboring residences.
All of these can be challenging when it comes time to get a home insurance policy on a property, so think about them ahead of time before contacting home insurance companies to negotiate.
To learn more, contact a home insurance company like Bell Insurance Inc.
Share5 June 2015
