Page 2 - Financing Contingency News Today

You should also investigate whether insurance claims have been filed by the home’ s previous owners, said Mark Friedlander, director of corporate communications for the industry-funded Insurance Information Institute. Buyers looking for homes in today’ s hot South Florida real estate market face challenges securing coverage in Florida’ s troubled...

Homebuyers can be blindsided when past insurance claims are discovered against houses they have contracted to buy, insurance experts say. Old claims can cause higher rates for a home's new owner. And a Coral Springs man said an old claim prevented him from securing insurance from a regulated firm in Florida. Instead, he was forced to pay thousands of dollars more for a surplus lines policy.