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s homebuyers navigate the complex process of purchasing a property, insurance costs are becoming an increasingly significant factor to consider. With rates skyrocketing in areas prone to extreme weather events, it's essential for agents and buyers to understand these costs upfront to avoid last-minute surprises at closing.

    High homeowners insurance costs can catch buyers off guard if they're not prepared. Factors contributing to higher rates include extreme weather conditions, inflation, and strong home price appreciation. In fact, 80% of claims originate from roof issues, making it crucial for agents and buyers to scrutinize a home's roof when considering a listing.

    Historically, insurance costs have moderated over time, but the current market is experiencing rising premiums due to various factors. Real estate professionals can mitigate this issue by advising clients to factor in insurance costs early on and exploring options for resilience improvements that may lead to discounts from insurers.

    Agents should also encourage buyers to get familiar with local insurance agents who can provide valuable insights into what's covered and the specific pain points in a market. Additionally, paying attention to a home's roof is vital, as it's where most claims arise. Asphalt shingle roofs, commonly used in the US and Canada, are particularly vulnerable to wind and hail damage.

    By addressing these concerns proactively, agents can help buyers navigate the complex world of insurance costs and ensure a smoother closing process. As Scott White, commissioner of the Virginia State Corporation Commission's Bureau of Insurance, notes, "When thinking about the cost of the home they're about to purchase, they need to factor in the cost it takes to protect that home."