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Home Insurance - A No-Brainer? Maybe Not.

By
Real Estate Agent with DFH Real Estate, Victoria, BC 800-668-2272

One would think that if the home that's listed has home insurance in place, the Buyer could get insurance as well, right? It might not be as simple as you might think and the rates could be very different.

Is the home going to require 'High-Risk' insurance?

Have you ever determined if your Buyer is able to get coverage?

In fact, what would you do if your Buyer couldn't get insurance that's required to complete the purchase?

The message is: complete your due diligence not only on the home, but the Buyer's ability to get insurance as well. Are there any red flags like outstanding or excessive claims in the past, poor credit scores, etc.?

Some links I've found that might be helpful or least open a discussion...

READ IT:

http://www.canada-insurance-source.com/Canada-Home-Insurance.html

http://www.canada-insurance-source.com/high-risk-home-insurance-knob-and-tube.html

http://www.ehow.com/info_7760063_homeowners-high-home-insurance-owner.html

 

WATCH IT:

http://www.dailymotion.com/video/xfrp4u_credit-scores-can-hike-home-insurance-rates_news

 

A Funny Video: http://www.metacafe.com/channels/chagol08/

 

Insurance: Don't Buy A Home Without It!

Comments (1)

Andres Munar
Keystone Alliance Mortgage - State College, PA
Experience The Difference

Insurance is credit based too so have to keep that in mind.

Feb 09, 2011 12:42 PM