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High Risk Property Insurance
Acquiring High Risk Property Insurance
Although it sounds intimidating, the reasons behind it may be less frightening and obtaining high risk property insurance isn’t as difficult as you would think. So what makes a property ‘high risk’?
What makes a home ‘high risk’?
For the physical house the rating could be due to some of the following:
- The property is currently vacant
- The property is a rental property (House, Condo or Cottage)
- The age of the property
- The property has knob-and-tube wiring
Another situation may include a rental property that has an absentee landlord. Some insurance companies have a maximum allowable distance between a landlord and the property that, if exceeded, may result in a quote decline or non-renewal of policy.
Other High Risk Property Insurance Factors
It’s not just the property that can be deemed a high risk. Homeowners who have poor claims history or no previous insurance history can also be deemed a higher risk to insure. This doesn’t mean you have no options as there are companies out there who specialize in high risk property.
Obtaining a high risk property insurance quote
The first step is to speak with one of our licensed insurance brokers. They will be able to go through options with you to find the best available solutions to meet your needs. We work with companies that offer competitive high risk solutions so if you find yourself in need of a quote, call us today at 1-877-454-4476 or visit our quote page.