In Arizona, we are generally buffered from many natural disasters. While we do experience the occasional wind or hail storm, and flooding from fierce monsoon rains can occur, our greatest ongoing risk is wildfire.
“My insurance rates go up every year” is a common comment I hear as I meet with people at our monthly meetings. While this might sound like music to the ears of an insurance agent trying to get your business, it’s a bit more complex than you might think.
Let’s start with the good news: the insurance market is stabilizing. Many carriers are lowering rates incrementally, but it’s happening.
Honestly, coverage offered by insurance companies on homes under renovation (Flips) sucks. If we consider it, it makes sense that homes under rehab are problems for insurance companies.