Best High-Risk Home Insurance Companies: Find Affordable Coverage
Finding homeowners insurance for high-risk properties can be challenging, but it’s not impossible. Whether your home is at risk due to its location, age, or other factors, the right insurer can provide the coverage you need to protect your property and financial well-being. In this guide, we’ll explore what makes a home high-risk, how to navigate the challenges of securing coverage, and the top insurance companies that specialize in insuring high-risk homes.
What Are High-Risk Homes?
High-risk homes are properties that pose a greater risk to insurers due to factors like location, structural issues, or crime rates. These risks increase the likelihood of damage, loss, or insurance claims. As a result, finding affordable and comprehensive homeowners insurance for high-risk homes requires understanding these factors and working with the right insurer.
Top High-Risk Homeowners Insurance Companies
1. State Farm
Known for its financial stability and robust coverage, State Farm offers customizable policies for homes in disaster-prone areas. With an extensive network of agents and efficient claims processing, State Farm is a top choice for high-risk homeowners.
2. Allstate
Allstate specializes in insuring high-risk properties, such as those vulnerable to hurricanes or wildfires. Its bundling options and claim satisfaction guarantee make it a strong contender for comprehensive and affordable coverage.
3. Farmers Insurance
Farmers is well-regarded for its personalized policies that cover a range of high-risk scenarios, including flood and earthquake risks. Their customer service and tailored solutions stand out in the high-risk insurance market.
4. Liberty Mutual
Liberty Mutual offers coverage specifically designed for high-risk properties, including extended replacement cost coverage. Discounts for bundling policies make it an attractive option for homeowners seeking affordability.
5. Progressive
Progressive provides flexible policies for high-risk homes through its partnerships with other insurers. It offers competitive pricing, especially when bundled with auto insurance.
6. USAA
Available exclusively to military members and their families, USAA is highly rated for its superior customer service and comprehensive coverage, including homes in disaster-prone areas.
7. Nationwide
Nationwide focuses on personalized coverage, including options for earthquake and flood risks. Their On Your Side® Review ensures homeowners get competitive rates tailored to their needs.
8. GEICO
GEICO partners with other insurers to offer homeowners insurance for high-risk properties. Known for its user-friendly tools, GEICO makes managing policies and comparing quotes simple.
Key Factors That Determine a High-Risk Home
1. Natural Disaster-Prone Location
Homes in areas frequently affected by natural disasters, such as hurricanes, wildfires, or floods, are considered high risk. Insurance companies view these regions as more likely to result in claims, which often leads to higher premiums or limited coverage options. In such cases, state-backed insurance programs or specialized policies may be necessary.
2. Age and Condition of the Home
Older homes with outdated systems, such as electrical wiring or plumbing, are more prone to damage. Insurers may require repairs or upgrades before offering coverage. Homeowners should seek companies specializing in older homes to secure tailored policies, even if premiums are higher.
3. Crime Rates in the Area
Homes in neighborhoods with high crime rates face a greater risk of theft or vandalism, which increases the likelihood of liability claims. While private insurers may offer limited options, supplemental coverage and discounts for security upgrades can mitigate costs.
How Home Security Can Help with High-Risk Home Insurance
Investing in a comprehensive home security system can help reduce your insurance premiums while enhancing property protection. Here’s how:
Potential Discounts: Many insurers offer discounts for homes equipped with security measures like surveillance cameras, motion detectors, and alarm systems.
Enhanced Safety: Features like fire alarms, flood sensors, and smart locks reduce the likelihood of claims, making your home less risky to insure.
Improved Claim Processes: Security systems provide evidence (e.g., surveillance footage) to support claims, expediting resolutions.
Higher Home Value: A secure property often has a better risk profile, attracting more favorable insurance options.
Peace of Mind: Knowing your home is well-protected reduces stress and ensures you’re taking proactive steps to mitigate risks.
Kangaroo Home Security: Affordable Solutions for High-Risk Homes
Kangaroo Home Security offers cost-effective and reliable devices to help homeowners safeguard their properties while qualifying for insurance discounts. Popular devices include:
Photo Doorbell Camera: Keeps track of who’s at your front door.
Motion and Entry Sensors: Monitors your home for unauthorized access.
Water + Climate Sensors: Detects leaks or environmental changes to prevent damage.
With Kangaroo, you can protect your home, lower your premiums, and enjoy peace of mind.
Dory Insurance Concierge Service: Maximize Your Savings
The Dory Insurance Concierge Service helps homeowners secure discounts by communicating directly with insurance providers. Customers have saved hundreds by combining Kangaroo’s security solutions with Dory’s expertise.
Real Experiences with Kangaroo and Dory
We value the feedback from our customers who have used our services to maximize their insurance benefits. Our surveys on the app provide insights into how our users are saving money and enhancing their home security experience with Kangaroo products. Here’s what some of our satisfied customers have to say:
"Answered a few question got a refund check for $34!!" - Beth, Kangaroo Concierge Customer
"I didn’t even know this was possible until I contacted kangaroo and I was offered! They contacted my insurance company and were able to save me 10% overall." - Spree, Kangaroo Concierge Customer
"We love our new Kangaroo motion sensor. The design is a real stand-out -- so clean and simple with an adorable logo. Downloading the app was quick and the instructions were clear and easy. The sensor connected to my phone and wifi without any issues and testing the sensor was an immediate success. Especially given my experience with catching a robber in the act during a past break-in, having my Kangaroo sensor helps me feel much more secure. I am looking forward to buying future Kangaroo security products to complement my new sensor. Keep up the great work Kangaroo!" - Todd S., Amazon
"I bought five motion detectors. They worked right out of the box. We have surveillance cameras outside our house, but we didn't want cameras inside. The Kangaroo motion detectors let us monitor the inside of our house without having to use cameras. A friend of ours entered our house while we were away. My wife and I both received alerts on our phones, and a minute later our alarms went off. Then we checked our outside surveillance on our phones and saw our friend's car and our friend getting out of the car. We didn't have to bother a security agency of pay a monthly fee. In about two minutes we solved the issue ourselves. All of this is free. We don't have any monthly payments. If we had seen an intruder on our cameras, we could have called a neighbor or the police. We are very satisfied.” - Dan, Amazon Verified Purchase
"Wow! I just answered a few questions and now I’m saving an additional $64! Simple, Fast & easy!" - Jeff G., Kangaroo Concierge Customer
"It was seamless, I dont even remember if I took any action to get this discount, but it was good to get!!' - Mital, Kangaroo Concierge Customer
Optimize Your Insurance Savings Today
Protecting a high-risk home doesn’t have to be stressful. By working with specialized insurers, installing advanced security systems, and exploring bundling discounts, you can secure comprehensive coverage while saving money. Start by exploring Kangaroo’s security solutions and let Dory handle the rest!
