Liz Weston: {Beware|Be careful} high-risk {homes|houses} that {drive up|increase} {insurance|insurance coverage} – STLtoday.com

This {could|might} be {a particularly|an especially} {important|essential|crucial} {concern|issue} for {first-time|novice|newbie} {homebuyers|property buyers} and those moving from cities to {{suburban|rural} or rural|rural or {suburban|rural}} {areas|locations} who {may|might} not {be aware of|know|understand} {common|typical} {hazards|risks|dangers|threats}, {says|states} Jennifer Naughton, {risk|danger|threat} {consulting|speaking with|seeking advice from} officer for {North America|The United States and Canada} for Chubb, {an insurance company|an insurance provider|an insurer}.

{{Three|3} out of 10 city {dwellers|residents|occupants} {told|informed} a Chubb {survey|study} in early August that they were {considering|thinking about} {moving out of|vacating} the city {because|since|due to the fact that} of the {novel|unique} coronavirus {outbreak|break out}.|{Because|Since|Due to the fact that} of the {novel|unique} coronavirus {outbreak|break out}, {three|3} out of 10 city {dwellers|residents|occupants} {told|informed} a Chubb {survey|study} in early August that they were {considering|thinking about} moving out of the city.} {{Meanwhile|On the other hand}, the {number of|variety of} {first-time|novice|newbie} {homebuyers|property buyers} in the {first|very first} half of 2020 {rose|increased} 4% compared to a year {earlier|previously} as lower {interest rates|rate of interest|rates of interest} made {mortgages|home loans|home mortgages} more {affordable|inexpensive|economical|budget-friendly|cost effective|budget friendly}, according to Genworth {Mortgage|Home loan|Home mortgage} {Insurance|Insurance Coverage}.

| The number of {first-time|novice|newbie} {homebuyers|property buyers} in the {first|very first} half of 2020 {rose|increased} 4% compared to a year {earlier|previously} as lower interest rates made {mortgages|home loans|home mortgages} more {affordable|inexpensive|economical|budget-friendly|cost effective|budget friendly}, according to Genworth {Mortgage|Home loan|Home mortgage} {Insurance|Insurance Coverage}.

} WHERE’S THE {NEAREST|CLOSEST|NEARBY} FIRE HYDRANT?

A {homeowners|property owners|house owners} {insurance|insurance coverage} premium can depend in part on {distance|range} to the {nearest|closest|nearby} fire hydrant and {fire station|station house}, Naughton {says|states}. {Homes|Houses|Residences} that are on narrow {roads|roadways} or otherwise {difficult|challenging|tough|hard} for {fire trucks|fire engine} to {access|gain access to} {also|likewise} {could|might} be more {expensive|costly|pricey} to {insure|guarantee}.

“If they {have to|need to} cross over a bridge, it’s not {only|just} {a consideration|a factor to consider} of can {a car|a vehicle|an automobile|a cars and truck} {go over|review|discuss} that bridge, {but|however} {also|likewise} can {a fire engine|a fire truck},” she {says|states}.

Some {homes|houses} are at such high {risk|danger|threat} of wildfires and {severe|serious|extreme} {weather|weather condition}– {hurricanes|typhoons|cyclones}, {tornadoes|twisters}, windstorms and hail– that {private|personal} {companies|business} {won’t|will not} {insure|guarantee} them. Without {insurance|insurance coverage}, you can’t get {a mortgage|a home loan|a home mortgage}, so you ‘d {need|require} to {turn to|rely on} state-run {risk|danger|threat} {pools|swimming pools} such as Beach and Windstorm Plans or Fair Access to {Insurance|Insurance Coverage} Requirements {Plans|Strategies}, {better|much better} {known as|referred to as|called} FAIR. These policies {typically|generally|usually|normally} cost more and cover less than {regular|routine} {homeowners|property owners|house owners} {insurance|insurance coverage}.

{{Also|Likewise}, {many|numerous|lots of} {homeowners|property owners|house owners} policies in storm-prone {areas|locations} have {hurricane|typhoon|cyclone} deductibles that are {higher|greater} than the {normal|typical|regular} deductible, {says|states} Loretta Worters, vice president of media relations for the {Insurance|Insurance coverage} {Information|Info|Details} Institute, a trade group.|{Many|Numerous|Lots of} {homeowners|property owners|house owners} policies in storm-prone {areas|locations} have {hurricane|typhoon|cyclone} deductibles that are {higher|greater} than the {normal|typical|regular} deductible, {says|states} Loretta Worters, vice president of media relations for the {Insurance|Insurance coverage} {Information|Info|Details} Institute, a trade group.} {Instead|Rather} of paying the {first|very first} $500 or $1,000 of a claim {out of pocket|expense}, you {may|might} {have to|need to} pay 1% to 5% of the {home|house}’s {value|worth} {before|prior to} {coverage|protection} {kicks in|begins|starts}.

{Talking to|Speaking with|Speaking to|Talking with} the {neighbors|next-door neighbors} and {a local|a regional} {insurance|insurance coverage} {agent|representative} can {give|provide|offer} you {a better|a much better} {idea|concept} of what {costs|expenses} you {might|may} {face|deal with}.

WATER DAMAGE IS A BIG {DEAL|OFFER}

Getting {coverage|protection} for an older {house|home} with {outdated|out-of-date} {wiring|electrical wiring|circuitry}, {heating systems|heating unit|heater} or {plumbing|pipes} can be {a challenge|a difficulty|an obstacle} {as well|also|too} {because|since|due to the fact that} of the {risk|danger|threat} of fire or water damage. Burst {pipes|pipelines} and {leaky|leaking|dripping} water lines are {among|amongst} the {biggest|most significant|greatest} {causes of|reasons for} water damage, which costs {{insurers|insurance providers|insurance companies} and {homeowners|property owners|house owners}|{homeowners|property owners|house owners} and {insurers|insurance providers|insurance companies}} billions of dollars a year.

{Homebuyers|Property buyers} {may|might} {be able to|have the ability to} {lower|reduce|decrease} their {insurance|insurance coverage} {costs|expenses} by {updating|upgrading} those systems and by {installing|setting up} water {sensors|sensing units} or a whole-house {monitoring|tracking} system, which {shuts off|turns off|shuts down} the {water supply|supply of water|water system} if {a leak|a leakage} is {detected|spotted|discovered|found|identified}, Naughton {says|states}. Those systems can {range|vary} from $600 to {several|a number of|numerous} thousand dollars, she {says|states}.

Flood {risk|danger|threat} is {also|likewise} {a concern|an issue}, Naughton {says|states}. Flooding isn’t covered by {regular|routine} {homeowners|property owners|house owners} {insurance policies|insurance coverage|insurance plan}, and {typically|generally|usually|normally} {only|just} {homes|houses} in the highest-risk zones are {required|needed} by {mortgage|home loan|home mortgage} {lenders|loan providers|lending institutions} to {buy|purchase} {special|unique} flood policies. {{But|However} the federal government’s flood maps {may|might} {understate|downplay} the {risk|danger|threat} to {many|numerous|lots of} {properties|residential or commercial properties|homes}, {especially|particularly|specifically} as {hurricanes|typhoons|cyclones} get {stronger|more powerful} and bring {intense|extreme} {rainfall|rains} {along with|together with|in addition to} {larger|bigger} storm {surges|rises}.

| The federal government’s flood maps {may|might} {understate|downplay} the {risk|danger|threat} to {many|numerous|lots of} {properties|residential or commercial properties|homes}, {especially|particularly|specifically} as {hurricanes|typhoons|cyclones} get {stronger|more powerful} and bring {intense|extreme} {rainfall|rains} along with {larger|bigger} storm {surges|rises}.

}”We’re seeing {coastal|seaside} flooding that’s {going in|entering} {quite a bit|a fair bit},” Naughton {says|states}. “{People|Individuals} who {previously|formerly} didn’t {consider|think about} flood {insurance|insurance coverage} {should|ought to|must|need to} {because|since|due to the fact that} of the rain {aspect|element} {as well as|in addition to|along with} the {surges|rises}.”

{Again|Once again}, {talking to|speaking with|speaking to|talking with} the {neighbors|next-door neighbors} and {a local|a regional} {insurance|insurance coverage} {agent|representative} can {help|assist} you {assess|evaluate|examine} the {potential|prospective|possible} {costs|expenses}. You can get quotes for flood {insurance|insurance coverage} from the National Flood {Insurance|Insurance coverage} Program {as well as|in addition to|along with} {a few|a couple of} {private|personal} {insurers|insurance providers|insurance companies}.

EARTH-SHAKING {RISKS|DANGERS|THREATS}

The U.S. Geological {Survey|Study} {says|states} 16 states are at high {risk|danger|threat} for {a damaging|a harmful|a destructive} earthquake in the next half-century: Alaska, Arkansas, California, Hawaii, Idaho, Illinois, Kentucky, Missouri, Montana, Nevada, Oregon, South Carolina, Tennessee, Utah, Washington and Wyoming.

Earthquakes are another {hazard|risk|danger|threat} {excluded|omitted|left out} from {homeowners|property owners|house owners} policies, although some {private|personal} {insurers|insurance providers|insurance companies} {offer|provide|use} earthquake policies, and {people|individuals} in the Golden State can {buy|purchase} {coverage|protection} from the California Earthquake Authority. Deductibles {range|vary} from 5% to 25% of the policy {limit|limitation}.

{Certain|Specific|Particular} {types of|kinds of} {houses|homes} {may|might} be at {particular|specific} {risk|danger|threat} of earthquake damage, {including|consisting of} those {built|developed|constructed} {before|prior to} 1980 that have a stem wall– a wood-framed {first|very first} {floor|flooring} that rests on a concrete {perimeter|boundary|border}– or a cripple wall, which is {a short|a brief} {wooden|wood} wall {between|in between} the {foundation|structure} and the wood-framed {first|very first} {floor|flooring}. Both types can be made more {secure|protected|safe|safe and secure} by anchoring them to their {foundations|structures} with {bolts and braces|braces and bolts}. Post-and-pier {houses|homes}, which rest on pilings {rather than|instead of} on {a continuous|a constant} {foundation|structure}, would {need|require} to have a concrete {foundation|structure} {created|produced|developed} to make them {safer|much safer|more secure}.

Living {spaces|areas} above garages or other {large|big} openings, {also|likewise} {known as|referred to as|called} “soft story” {buildings|structures}, and {homes|houses} on {steep|high} hillsides {should|ought to|must|need to} be {evaluated|assessed|examined} by structural engineers for their vulnerability to damage.

{Obviously|Certainly|Undoubtedly|Clearly}, there’s no such thing as {a risk-free|a safe} {house|home}, and you {may|might} {decide|choose} that you{‘re willing| want} to pay the {price|cost|rate} of {higher|greater} {insurance|insurance coverage} or mitigation {costs|expenses}. {{But|However} that’s {a choice|an option} you {should|ought to|must|need to} make {before|prior to} you {buy|purchase}, {rather than|instead of} {finding|discovering} yourself {stuck with|stuck to} {a bill|an expense|a costs} after it’s {too late|far too late}.

| That’s {a choice|an option} you {should|ought to|must|need to} make {before|prior to} you {buy|purchase}, rather than {finding|discovering} yourself stuck with {a bill|an expense|a costs} after it’s too late.

}”{People|Individuals} {should|ought to|must|need to} {walk|stroll} into these {situations|circumstances|scenarios} with eyes {wide|broad|large} open,” Naughton {says|states}.

————————————————————————– This column was {provided|offered|supplied} to The Associated Press by the {personal|individual} {finance|financing} {website|site} NerdWallet. Liz Weston is {a columnist|a writer} at NerdWallet, {a certified|a licensed|a qualified}