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October 12, 2020

Beware high-risk homes that drive up insurance

  • Some homes are at such high risk of wildfires and severe weather — hurricanes, tornadoes, windstorms and hail — that private companies won't insure them.
    • By LIZ WESTON
    NerdWallet

    When house hunting, the price of homeowners insurance probably isn't top of mind. But homes with hidden risks can make getting coverage difficult, expensive or both. Learning how to identify them could save you a bundle.

    This could be a particularly important concern for first-time homebuyers and those moving from cities to suburban or rural areas who may not be aware of common hazards, says Jennifer Naughton, risk consulting officer for North America for Chubb, an insurance company.


     
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