How the Age of Your Home Affects Home Insurance

So you inherited an old house. Or maybe you got a fixer-upper cheap, and you’re thinking of flipping it. Or it was the childhood home of someone famous, and you got it recognized as a historical landmark. It’s insurance time! How old your house is can affect how much you pay for home insurance. The fact is that after fifty years, problems start popping up. That means more money to fix them and, thus, a higher insurance premium. If there are too many issues, a company may deny your insurance. 

Things That Can Affect Your Insurance Rates

Ask yourself how much it would cost to rebuild. This will help you estimate the replacement cost value of your home. If the house is made of brick or masonry, it will have a lower premium than a wooden house. Distance from the fire department will also affect the premiums. Check out your plumbing, heating, and electrical systems, as poor conditions here can result in higher rates. Learn about the history of insurance claims on the house, as this can impact the premiums. The house’s condition overall affects how much you can expect to pay for home insurance. If you get a professional to inspect your home, you can learn what problems your home may have and how to fix them. 

Focus Insurance Serving Eureka, MO

If you need home insurance in Eureka, MO, please get in touch with Focus Insurance. We value your trust and are dedicated to giving you all the help you need.