What if I can’t get homeowners insurance?

If you live in a home that is considered "high-risk" or plan to move to a high-risk location, you may have difficulty obtaining an insurance policy.

What constitutes high-risk?

 Your home is located in an area prone to severe weather such as hurricanes, windstorms, tornadoes or hail.
 You live in an urban area with high crime, vandalism and theft.
 Your home has an old plumbing, electrical and/or heating system—these represent a higher chance of causing fire or water damage.

If one or two insurers turn you down, don’t despair. You do have other options. If you are buying a new home, ask the real estate agent, mortgage lender or builder for names of companies that write in your area. If it’s an existing home, ask the previous owners who insured the house. If you still can’t find coverage, consider the following:

Ask for help from your current insurance professional.

Talk to the agent or company representative that previously insured your home or is currently insuring your car, boat or business. If the problem is not where the house is located, but the condition that it is in, find out what type of improvements or disaster-resistant features would be needed to make your home more insurable. The Institute for Business & Home Safety (IBHS) also provides information on natural hazards, community land use and ways you can protect your property from damage.

Talk to your neighbors and find out which insurers they use. Get the names of any agents who may be knowledgeable about the specific risks in your neighborhood.

Call the the Florida department of insurance. It can generally provide you with a list of insurers that write in your area.

• Make improvements that limit the risk of fire, theft or water damage, such as upgrading your electrical wiring, heating or plumbing systems, repairing your roof or improving security.
• If you do not correct conditions that make your home prone to losses, the FAIR Plan administrator has the right to deny insurance coverage.

Our Melbourne Home Insurance Agency is centrally located in Brevard County, enabling us to locally serve Viera, Cocoa Beach and Palm Bay.

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