Anshu Arora LLM, MSc, PMP

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An Insurer's Guide to a 'Healthy' Home

Think about health insurance. Providers can charge you a higher premium if you fit a profile that indicates you are at higher risk of medical ailments. Though you can’t be denied coverage because of pre-existing conditions anymore, they can still make your rates higher. Such conditions can also apply to those who are older, live in a location with statistically high health problems, smoke, or have a higher body mass index.


The same principle applies to homeowners insurance. Purchasing a home that has had past claims for structural problems or has characteristics making it more susceptible to damage will increase the premium a new home owner pays. Oftentimes, it’s not until a sale contract is signed and a home inspection is completed that a home buyer catches wind of possible issues with a house. By then, they’ve already fallen in love with the place, and unfavorable inspection results can be devastating.


But there are ways for buyers to spot problem properties before they get too invested in any particular home. “You want to look at the condition of the house from an insurance perspective,” says Jeanne Salvatore, senior vice president of the Insurance Information Institute. “It can save a lot of time and money.”


For ways that Buyer can tell if a home is "healthy" or not, visit REALTOR Mag