Tag: home

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.

Purchasing a new home involves many steps, especially if you’re getting a mortgage. One of those steps is getting home insurance. If you’re in the middle of purchasing a new home and you’re planning to get a home loan, you will need a good insurance policy to protect your investment.

The professionals at Ledford Insurance Agency, servicing Midland, TX, can help. We have many partnerships with insurance carriers and can shop for an insurance policy that will meet your needs. Here’s what you need to know. 

Who Is Required To Get Home Insurance? 

Home insurance is usually required to get a mortgage, so if you’re planning to pay for your home with a loan, you may be required to get home insurance. Homeowners associations (HOAs) sometimes require members to get home insurance as well. If you’re moving into a property with an HOA, read the HOA rules to find out whether this will be a requirement for you. 

Why Get Home Insurance If It Isn’t Required?

Even if home insurance isn’t required, many people find it beneficial. Home insurance can pay for many repair costs after covered events occur. Additionally, home insurance can pay your living expenses if you have to move out of your house while it’s being repaired. Having home insurance can mean the difference between rebuilding and floundering after a covered event occurs. 

Finally, many homeowners like home insurance for the peace of mind of knowing they have an insurance policy on their side. This can make recovering from a disaster more realistic if you don’t have money in your savings account.

Need Home Insurance? Call Us

If you need home insurance, the professionals at Ledford Insurance Agency, serving Midland, TX, can help. Call to learn more about how home insurance can help you.