Home Page
Auto Insurance Home Insurance Business Insurance Life Insurance Flood Insurance

When an insurance company is looking at insuring a risk, your home, they will look at several factors to determine if the risk is insurable.

Unacceptable property risk-Is the property found in disrepair. An inspection will be performed on the property and if any deficiencies are found the property will be deemed unacceptable. Here are unacceptable conditions, Structures with:

·        Unpainted or raw wood

·        Rotten wood, damaged or unrepaired wood.

·        Broken windows, torn window screens.

·        Old roofs, patched roofs, roofs with broken shingles.

·        Older homes without updates to electrical, plumbing, A/C and heat.

·        What is in your yard; viscous dogs, trash, storage buildings in disrepair and trampolines.

The key here is to keep your home in insurable condition & safe.

Poor payment history-Your payment history is also reviewed upon applying for insurance. Poor payment history can cause your insurance premiums to be higher and can also make you a target for cancelation.

Large claims-
If you have many large claims the insurance company sees you as being irresponsible or unsafe. The insurance company wants an insured to minimize damages to their home, so if there are claims they are smaller.

Too many claims- Generally speaking if you have too many claim over a period of years you will be deemed uninsurable.

Save your good claim history, and only file high value or important claims.

Home found vacant-Here most insurance companies will not insure vacant homes under standard dwelling or homeowners policies. If your home is vacant or your rental property becomes vacant let your agent know that it is vacant. If your property is vacant tell your agent, so they can write a special policy to insure that property.

Almost all insurance companies are now following the above underwriting guidelines, so remember keep your property and your credit in good repair.

"Your home is your largest asset and without insurance protection can be your largest loss."



Posted 2:15 PM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2018
  • 2017
  • 2016

View Mobile Version
HomeAbout UsGet A QuoteContact Us  
8117 Gladys Ave. Suite 102 | Beaumont, TX 77706
Phone: 409.861.4288 | Fax: 877.721.3003 | Email: ccole@twfg.com
Powered by Insurance Website Builder