NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Homeowners Insurance: The Basics
What Kind of Home Insurance Do You Need if You’re Selling a Home (Forbes, Jul. 26, 2022)
“It was a buyer’s market, and my real estate agent had only had a few nibbles. I needed to leave for the West Coast soon, which meant the home would be vacant. Then my insurance agent gave me more bad news: My homeowner’s policy wouldn’t cover the home if I wasn’t living in it. If your house is unoccupied, your homeowners insurance will likely cancel your policy or deny any claims you make,” explains Josh Stech, CEO of Sundae, a real estate site. “You’ll need to read the fine print in your individual insurance policy as this can vary from insurer to insurer.”
Home Owner’s Insurance: A Beginners Overview (Investopedia, Jun. 21, 2022)
“Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.”
What Is Homeowners Insurance? (the balance, May 23, 2022)
“Home insurance is a personal property insurance contract between you and an insurance company that protects your investment in your home, as well as your personal liability. You pay an agreed-upon amount of money (the premium) to the insurance company in exchange for protection against the costs of disasters and accidental loss or damage to your home, premises, and anything on the property.”
What to Know About Homeowners Insurance (REALTOR® Magazine)
Part of REALTOR Magazine’s “Handouts for Customers,” this one pager about homeowners insurance covers exclusions, limits on claims, replacement costs, actual cash value depreciation, and the consumer’s liability.
Assessing Costs, Coverage, and Risks
Homeowners Insurance in Florida is a Precarious Mess that was Years in the Making (Miami Herald, Aug. 12, 2022)
“In the last two years, insurance policies for more than 400,000 Floridians have been dropped or not renewed. Fourteen companies have stopped writing new policies in Florida. Five have gone belly-up in 2022 alone. The record, set after Hurricane Andrew’s devastation, is eight in one year.”
As Climate Change Threatens More Homes, Some Properties are Getting Too Costly to Insure (CNBC, Aug. 7, 2022)
Homeowners insurance premiums rose by 12.1% nationwide, compared to one year ago, but surges have been higher in disaster-prone states, according to Policygenius.
Home Insurance Calculator: Estimate Your Cost (Nerdwallet, Aug. 1, 2022)
Use this calculator form NerdWallet to estimate your home insurance costs! The national average for home insurance is $1,784 annually according to NerdWallet’s most recent analysis. Obviously, rates can vary greatly, so plug in your zip code and other factors to see what type of rate you may be facing.
What to Do if You’re Dropped by Your Home Insurance Company (Forbes, Jul. 28, 2022)
“To dispute your non-renewal if it’s related to your home’s location in a potentially high-risk zone for severe weather, you may have to show documentation that your home isn’t located in a high-risk area or show that you’ve completed severe weather mitigation measures.”
Factors that Impact Your Cost of Homeowners Insurance (Bankrate, Jul. 26, 2022)
Just like car or health insurance, there are many factors that end up affecting your home insurance rate premium. Some have to do with your personal situation, like your credit score, previous claims, or marital status while others have to do with the home itself – think location, age of home, etc. Location is a wide-ranging category, and everything from weather (flooding, fires, hurricanes, etc.) to being located near your local fire station may be a factor.
How to Lower Homeowners Insurance Costs (REALTOR® Magazine)
Part of REALTOR Magazine’s “Handouts for Customers,” this one pager about how to lower homeowner’s insurance costs discusses ways to either seek out lower rates or how to maintain a lower rate over time.
eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
Protect Yourself (eBook)
How to Insure Your Home (eBook)
Complete Book of Insurance (eBook)
Books, Videos, Research Reports & More
The resources below are available for loan through the NAR Library & Archives. Up to three books, tapes, CDs and/or DVDs can be borrowed for 30 days from the Library for a nominal fee of $10. Call the Library & Archives at 800-874-6500 for assistance.
Nolo's Essential Guide to Buying Your First Home (Berkeley, CA: Nolo, 2007) HD 1341 B73
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