Warning: Creating default object from empty value in /home3/inspo77/public_html/wp-includes/ms-load.php on line 113
5 Features That Can Spike Your Home Insurance Costs

5 Features That Can Spike Your Home Insurance Costs

5 Features That Can Spike Your Home Insurance Costs
News from Fox Business:

When shopping for a new home, some of the same features that lure you in could end up costing you extra in insurance premiums.

If you’re like the many buyers who wait until after going into contract to get insurance quotes on a property, you could be faced with some serious sticker shock. Check out these five seemingly desirable home features that might end up costing you more than you realize in the long run:

1. Swimming pools

Because of both the high rate of drowning and the severity of water-related injuries, insurance companies consider swimming pools one of their biggest liabilities. Consider the possibility of a neighborhood kid accidentally falling into your pool and sustaining an injury. You could be held liable for the high cost of their hospital bills, and if they choose to sue, you could also rack up considerable lawyer fees and other court expenses.

Most standard homeowners insurance policies include a minimum liability coverage limit of $ 100,000 in order to help protect you financially in the event of such a lawsuit. However, if your home includes a swimming pool, the Insurance Information Institute recommends increasing you…………… continues on Fox Business

… Read the full article


Related News: