When you are buying a new home one of the items on your list is arranging home insurance. If you are new to buying a home you may not know what you should be looking for in a home to make it easier to insure than others. New homes are the easiest to insure as everything is up to date and to code so it makes it simple to insure. But if you are buying an older home there are a number of variables that insurance companies take into consideration when determining your premium. Questions that you should ask your realtor (or home inspector) about the home that affect insurance rates are the following:
- Age of the home
- Electrical service – Is there a 100 amp breaker box?
- Electrical Service – Is the home wired with copper or aluminum wiring? Aluminum wiring will be an issue.
- Plumbing service – Copper, plastic or galvanized? Heritage homes can have galvanized plumbing and that changes the market for where you can insure such a home.
- Age, condition and type of roof?
- Age of the furnace and hot water tank?
- Past insurance history of the home – any prior sewer back up issues?
There is a market for every home and premiums will reflect the age and condition of the home. Premiums are also effected by your insurance history. If you have had home or tenant insurance in the past then your premiums will be lower than if you have never had any insurance before.
If you have any questions or would like a quote for home insurance please feel free to call our office.
Del Blondin, Personal Lines Manager
Ph. (403) 309-2230
Fax (403) 309-2205
Check out our website at www.allserviceins.com