Securing Home Insurance on As-Is Houses: What Are Your Options?

Homes sold "as-is" may be in great shape, in desperate need of major repairs, or somewhere in between. The agents at Ledford Insurance Agency, serving Midland, TX, will determine where your home lies and find a home insurance carrier that will cover it.

Can as-is homes qualify for standard home insurance in Midland, TX?

It depends on the number of repairs it needs. By default, home insurance carriers find as-is homes high risk, so they won’t cover them. To secure insurance, you may need to provide proof that the house is in excellent condition. An inspector from us or the carrier will assess the home’s condition.

Should you secure home insurance for an as-is home, the benefits are not as robust as those for homes in superb condition. It may also mean higher premiums. Luckily, you can get a better home insurance policy once the desired repairs are satisfactory to us and the carrier. Meanwhile, as-is homes that start in excellent condition will get the same home insurance options as newer, updated homes.

How else can you get your as-is home insured?

Some of our partner carriers offer high-risk property insurance that may apply to your home. A second option is applying to the Fair Access to Insurance Requirements (FAIR) plan. A third is securing renovation coverage. Lastly, pre-application repairs improves your chances of better coverage and rates. You must hire licensed professionals to fix essential repairs like roofing, plumbing, electrical wiring, foundation cracks, and broken windows before you apply for home insurance.

The agents at Ledford Insurance Agency want all homes in Midland, TX to have home insurance coverage. When you stop by and view our coverage options, we’ll discuss the steps you need to take to help the carrier determine coverage eligibility and benefits. Contact us for more information.