Some homes have disproportionately higher risks than other homes. Below are examples of such homes, and tips you can use for their insurance coverage.

Examples of High-Risk Homes

Some homes face more risks of damage, theft, or injuries than others. These are all injuries that can cause insurance companies a lot of money. Below are a few examples of such homes.

Vacant Homes

Vacant homes face two forms of elevated risks. First, the risk of damage in a vacant home is high because no one will be around to mitigate small problems, and it is the small problems that flare up into serious issues. For example, a small water leak can cause serious damage if someone doesn't plug the leak in time. Secondly, vacant homes also face high risks of theft since criminals target such homes.

Homes in Disaster-Prone Areas

Some areas are more prone to disasters than others. For example, low-lying and waterfront areas face higher risks of flooding than other areas. There are also areas that experience wildfires year after year.

Old Homes

Extremely old homes face two forms of significant risks. First, such homes face elevated risks of damage because their materials might be deteriorated. For example, an old roof is more likely to experience wind damage than a relatively new roof. Secondly, such homes might also contain dangerous systems, such as malfunctioning electrical or plumbing systems, that can cause injuries to guests.

Tips for Coverage

Due to the above risks, you might struggle a bit to find coverage for your high-risk home. Even if after finding such coverage, the premiums are likely to be higher than usual. Below are a few tips you can use to deal with coverage problems.

Ask For Referrals

Home insurance for high-risk properties may be difficult to find, but they do exist. Asking around from relevant parties may help you land the coverage. For example, if you live in a high-risk area, you can ask your neighbors for referrals since their insurance companies are likely to do business with you too. Other people you can ask for referrals include real estate professions such as agents and the previous owner of the property in question.

Mitigate the Risks

You can also help your quest by mitigating the risks that make your house be classified as high risk. For example, you can take flood-mitigation measures such as proper landscaping and drainage designs. For vacant homes, you can install security measures such as alarms and CCTV cameras, as well as sensors to monitor malfunctions in the house (such as moisture detectors).

Hopefully, the measures above will help you buy coverage for your high-risk home at a reasonable rate. In extreme cases, consider shopping specifically for high-risk insurance coverage that is specifically targeted at high-risk properties.