When you plan to buying a home, probably the last thing you would consider is how much it will cost to insure it. However, insurance is something you will have to pay for as long as you own your home. Lenders require that borrowers have homeowners insurance. Many homeowners associations and condo HOAs also require that the property is insured.
This video provided by the Insurance Information Institute contains a helpful checklist of items that may affect the cost of your homeowners insurance, such as: how close you are located to a fire department, how close you are to a coastline, your credit rating, flood risk, if the home is up to code, and more.
If you have additional questions, speak to an
insurance expert in Orange County: (949) 222-0444