INSURANCE AGENCY NETWORK Blog
Many people prefer to live in an older home and even consider it as their dream house. Why not, when older houses typically have bigger rooms, are located in prime areas, and they have that old-world charm. However, homes that are about 50 to 100 years old tend to present some problems to their owners, especially when it comes to buying homeowner's insurance.
One of the major problems in such a case is that the house itself is already worn out. Insurers might deny your application unless you do some replacing and repairing. The insurance company may also conduct a home inspection to find out if the house can be insured.
Common Problems Homeowners Face When Insuring Older Homes
In general, insurance companies are scared of older houses as they have the same issues despite their grandeur. That is why you need to do some restoration if you want to get homeowner's insurance with a reasonable premium.
Tips for Owners With Older Homes
As a homeowner, one big concern is the insurance company increasing the premium or may completely cut the coverage. If you file a claim or make several claims within a short period of time, your insurer may deny to continue giving you coverage.
You can try to avoid these problems by doing some works ahead of time. Repair and replace whenever necessary. Keep in mind that these projects may be expensive.
Get the Best Policy
When buying homeowner’s insurance, it is recommended to shop around first as this can help you find the most suitable policy and rate for your older home. If you want to preserve the original structure and features of your house, find a policy that will cover the costs of the materials and the repair.
A professional insurance agent can help you find the right policy for your case.At Insurance Services of the West LLC, we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (425) 681-0996. Get your free quote today by CLICKING HERE.