Here are Some Tips on Keeping Insurance Costs Down.
Older homes are great! They come with history, charm, and their own unique quirks, but sometimes high insurance costs.
How do you keep those insurance costs down?
- Heating. Make sure your heating system is updated and maintained. Homes with oil tanks over 25 years of age may be uninsurable or may have higher insurance costs.
- Wiring. Many houses that were built before 1950 have knob and tube wiring. These homes are more likely to have fires, so insurance companies are less willing to insure them.
- Roof. Old roofs can look unsightly and have a higher risk of water and wind damage. Most insurers prefer that roofs are updated every 20 years.
- Plumbing. Older homes often have galvanized pipes, which are prone to rust, contributing to burst pipes and leaks. Talk to your home inspector to ensure this isn’t an issue in your retro home.
It can sometimes be difficult to insist on a home inspection before closing in today’s market. However, to ensure the home isn’t at risk for higher insurance risks and costs, we recommend having a qualified home inspector look at your home. It will help keep you and your new (old) home safe.
Contact Us!
If you live in Alberta or British Columbia and are looking for Home Insurance, we are here to answer any questions you may have about our range of home insurance products and services. Contact us at 1.844.544.4663 and see for yourself what makes us Harbord – The Home Insurance People™!
