Insurance conditions can affect affordability, financing, closing, and long-term ownership. Buyers and owners should request quotations early and provide accurate information about location, roof, electrical, plumbing, prior claims, occupancy, rentals, fire protection, and planned improvements.
The lowest premium may not provide the most appropriate protection. Review deductibles, limits, replacement-cost assumptions, water, flood, earthquake, wildfire, liability, loss-of-rent or business-income coverage, ordinance and law, and exclusions. Condominiums and planned communities require coordination between the association’s master policy and the owner’s individual coverage.
Insurance professionals should interpret coverage. The real estate process should make enough time for that review and treat insurance as a due-diligence item rather than a final-week formality.
