Updated: September 16, 2025
Advertising & Editorial Disclosure
Insuring an older home or a home that needs repairs is possible, but expect limited coverage and higher premiums until the property is brought up to standard.
Specialized insurance policies, such as FAIR Plans, provide viable alternatives for insuring an old home, a high-risk home or homes needing repair.
Some insurers may waive a new inspection if a recent one is available, making it easier to get coverage for old homes or those in less-than-perfect condition.
Homeowners insurance for homes needing repair is available, but your options are limited and premiums are higher. High-risk properties, such as older homes, face specific exclusions for pre-existing damage and coverage limitations until repairs are completed. Your policy won't cover damages stemming from existing disrepair.
Insurers require home insurance inspections before issuing policies and often mandate specific repairs as coverage conditions.
You can get homeowners insurance for older homes, but it may come with higher premiums and stricter requirements. Insurers typically view properties with active damage or safety issues as higher risk, making both older homes and those needing repair more difficult to insure. Older homes may require inspections or system updates, but standard policies are often still available.
Insurers evaluate homes based on risk, and properties in disrepair are more likely to generate costly claims from leaks, fires, or structural issues. Because of this, companies may require repairs before issuing a policy or limit coverage until the work is complete.
The same concerns apply to older homes. Even without visible damage, insurers often treat older properties like homes in need of repair, requiring inspections or upgrades before offering standard coverage.
Common issues that make a home harder to insure include:
Getting insurance for homes needing repair or older homes requires more effort, but it's not impossible to get. Contact insurance agents or brokers specializing in high-risk properties, then compare quotes from multiple insurers to find coverage within your budget.
Specialized agents and brokers focus on high-risk or hard-to-insure properties and know options like FAIR Plans, surplus lines carriers and other specialized policies for properties in poor condition.
Complete disclosure about your home's condition helps agents find willing insurers. Share the age of key systems (roof, plumbing, electrical), visible damage, recent inspections and completed or scheduled repairs.
High-risk insurers handle damaged properties differently. Compare quotes from multiple providers, including coverage limits, exclusions and required repairs. Even with limited options, comparison shopping finds your best available coverage.
Critical repairs like fixing leaky roofs, exposed wiring or broken windows before your application increase approval chances and lower your premium. Focus on repairs that improve safety or reduce fire and water damage risks.
Not all repairs carry the same weight when it comes to getting approved for homeowners insurance. Insurers focus on fixes that reduce risk, and certain repairs can make the difference between limited coverage and a standard policy.
Prioritizing safety and structural repairs first is the most effective way to improve your chances of securing affordable coverage.
Home inspections for damaged or older properties aren't required if recent inspections occurred during purchase or were acknowledged by previous insurers within the last year. Insurers require new inspections when your home shows evident repair needs to assess current risk levels.
When traditional homeowners insurance is difficult to secure for homes in need of repair, specialized options are available. The Fair Access to Insurance Requirements (FAIR) Plan and renovation coverage provide solutions for these properties. These tailored insurance solutions cater specifically to properties that don't fit the standard underwriting criteria.
The FAIR Plan is a state-mandated program designed to provide insurance to properties that are considered high-risk and often rejected by standard insurers.
For instance, if you live in a coastal area where homes are frequently denied coverage due to storm risk, you can obtain insurance through the FAIR Plan. It's most beneficial for homeowners who have been repeatedly turned down by traditional insurers due to the condition or location of their property.
FAIR Plans typically offer basic coverage with higher premiums and may exclude certain perils. Coverage limits are often lower than standard policies. FAIR Plan availability and coverage options vary by state. Not all states offer FAIR Plans, and eligibility requirements differ by location.
Renovation coverage is insurance specifically designed for homes undergoing repairs or renovations. It covers risks associated with the renovation process.
For example, during a major kitchen remodel, if a pipe bursts and causes water damage, renovation coverage would help cover the costs. This coverage is ideal for homeowners actively improving or repairing their homes, particularly when the work involves significant structural or system updates.
You can insure a home in need of repair or an older property, but expect stricter requirements and higher premiums until updates are made. Specialized options like FAIR Plans or renovation coverage provide protection when standard insurers won’t. Making structural and safety repairs first improves your chances of approval and can lower costs over time. Whether your home is damaged or simply aging, the right coverage keeps you protected while you bring it up to standard.
These answers address common questions about specialized homeowners insurance policies, including FAIR Plans and inspection requirements for damaged properties.
Homeowners insurance for homes needing repair is available but involves higher premiums and limited coverage options. Damaged properties are higher risk, so specialized policies like FAIR Plans provide coverage where traditional insurers won't.
Homeowners insurance for older homes requires thorough inspections and higher premiums due to outdated construction and systems. Insurers require updates to electrical, plumbing or HVAC systems to reduce safety risks and approve coverage.
Homeowners insurance during construction protects your existing home and new additions against fire, theft, vandalism and construction hazards. Discuss your construction plans with your insurer to adjust your policy coverage.
Fixing safety-related issues like roof leaks, exposed wiring or broken windows makes approval more likely and can help lower premiums.
Yes. Once major repairs or updates are complete, you can reapply with traditional insurers and often qualify for broader coverage.
Usually not. Insurers are more concerned with structural and safety problems that can cause costly claims.
MoneyGeek analyzed quotes from multiple insurance providers across the U.S. using a profile that reflects the average homeowner. By considering different locations and companies, we aim to give a reliable estimate of what homeowners can expect to pay — showing why it’s important to compare rates.
Homeowner Profile
For our analysis, we created a sample homeowner profile with the following characteristics:
Homeowners Insurance Coverage Details
Unless otherwise specified, we used the following coverage limits to collect quotes for our comparison:
We also compiled data for policies with broader coverage to determine the best companies for insuring expensive homes, upping limits to $1 million in dwelling coverage, $500,000 in personal property coverage and $1 million in liability coverage.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
