HOW TO SECURE HOMEOWNERS INSURANCE IN A HARSH CLIMATE

If your insurance company deems your home uninsurable what are your options?

Try not to panic. You may be able to find another insurer who will write a policy on your house. It may be very expensive and offer minimal coverage but it's a start.

If no private insurer will cover your home, check the Fair Access to Insurance Requirements (FAIR) plan https://www.cfpnet.com/how-to-apply/

A FAIR plan provides limited coverage for high-risk homes. It tends to cost more than typical homeowners insurance and covers the dwelling only for limited perils, such as catastrophe. It does not cover personal property but you can add a Difference in Conditions (DIC) policy, also called a Wrap Policy that will provide more comprehensive coverage but will be costly.

Searching for a home to buy? Ask your insurance agent before you start looking or make an offer. You will need to know the location(s) where to purchase your home. Please secure insurance before the start of escrow. Many real estate agents now require that buyers take this step.

Thinking of selling your home? Call your local fire department and schedule an inspection of your home and make any adjustments needed to provide your home to be as fire-safe as possible before your list the home for sale.

Finally, you must reach out to a licensed insurance agent first to get the information you need to be protected now and in the future.