What does a Property Insurance Disclosure inform buyers of?

The Property Insurance Disclosure serves to inform buyers about the current insurance coverage on the property. It details the existing insurance policy, including any claims that may have been made in the past, and highlights the level of coverage available. This information is crucial for buyers as it helps them understand the risks associated with the property and allows them to make informed decisions regarding their own insurance needs post-purchase.

Contextually, understanding the existing coverage can also impact buyers' perspectives on potential costs and exposures related to the property. Knowing about the coverage can help them assess whether they need to negotiate for additional insurance or consider other factors when evaluating the overall value and safety of the property.