For this reason, it is important to determine the viability of insuring a home before buying it. Some homes are harder to insure for an affordable amount than others are. There are multiple factors that play into this.

One is if the home is built in a disaster-prone area. If it is, insurance companies may very well view it as high-risk and be hesitant about insuring it. You may still be able to get the home insured, but your choices of insurers will likely be fewer, and those you have will probably charge you more than they would for homes in safer areas.

Correspondingly, it is advisable to check out the history of disasters in the area where you want to buy a home. You might find a home close to your preferred area that is in a safer spot than your first choice. That could allow you to get lower insurance rates.

An additional factor that can affect home insurance availability and rates is the home’s age. If it is an older home, insurers may presume that it is more likely to have problems than a newer home would. That can cause them to seek higher rates to insure it. The home having a checkered claims history can be a factor as well.

A good attorney can help prospective homeowners look through all of these factors and more. They can also help to make sure that the insurance company you seek coverage from is assessing the situation accurately.

Source: The Motley Fool, “7 Types of Homes That Are Hard to Insure” Susan Ladika, Nov. 15, 2014

Has Your Home Insurance Company Denied or Undervalued Your Property Damage Claim in Florida?

If your insurance company is dragging their feet regarding your property damage claim you should speak with an experienced insurance claim lawyer as soon as possible. Please contact us online or call our Florida law office directly at 800.451.6786 to schedule your free consultation. We help Florida residents just like you fight the big insurance companies who fail to abide by their own policies. Remember, we work on a contingent basis, meaning you don't pay us anything until we win your case. 

K.C. Williams III
Managing Partner who has spent his entire career representing Florida insurance and personal injury claims.