Home Location and Common Risk Factors

The United States is so vast and has such a variety from climate to climate that it is almost impossible to find a standard list of risks that would fit your home. The most common traits to consider when determining the risks where you live is the climate. The Northwest has to deal with heavy rain which can lead to mold issues, northern states have snowy, icy winters to contend with, the south can have droughts that affect the landscape and can lead to fire hazards. Consider the climate in your area to start determining potential risk.

Along with the climate comes natural disasters. Homes on the coast will need to worry about hurricanes or typhoons, depending on their location. Areas like Hawaii will need to consider whether or not they run the risk of dealing with volcano damage. States like Oklahoma and Kansas have a heavy storm season that includes a high chance of tornadoes. There are also home coverage issues like wildfires, insects, mold or flooding which can happen in any number of climates that homeowners will need to be aware of.

When you are dealing with a community that has several known risk factors you will need to work with your insurance agency and the local government to get any damage repaired. If you have not undergone certain safety procedures mandatory in your community or you do not reach out to the local government when they offer aid after a serious weather situation you may find your insurance company is not willing to take on your claim. Understanding how to handle risks common in your location is just as important as understanding what the risks are so you can react appropriately.

Risks in the Community

The climate includes its own set of risks, but the community you live in can add many others. In order to adequately determine the risks in your area you will need to look at the overall crime rate and what kind of crimes are common where you live. Vandalism, burglary or something less tangible like identity theft will all play a part in the overall safety of living in your area. On a more personal level, you will need to see whether or not your neighbors have aggressive pets or take part in activities such as bonfires that could be unsafe for those living nearby.

When determining the overall value of your home or the amount of insurance you should get, you will need to consider how an outsider would view the risks in your community. Consider how often there are events that bring strangers into your neighborhood, how active the schools are in keeping children enrolled and attending class regularly and whether or not risky behaviors such as driving off-road vehicles is common where you live. Also consider factors such as whether or not there is a great deal of heavy traffic or an industrial plant near your home that could cause structural damage to your property over time.

Your home location and common risk factors go hand in hand when it comes to determining the value of your property. It is important to be honest with yourself about what the risks of your neighborhood are so you are not caught off-guard by an estimate that is worth much less than you would value your home to be. Keep in mind, the more you do to protect your home from these risks, the more you can prevent these issues from having an effect on the value of your property.

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