Homeowners looking for affordable house insurance for an old house will have to look a little harder than homeowners purchasing new homes. However, low cost quotes are out there!
To find them, you need to go online to an insurance comparison website.
Benefits of Going Online
Yes, you can ask your friends and neighbors with older homes who their insurance is with. You can ask your mortgage company for recommendations. You can call around to every insurance agent in town and try to convince them to cover your home.
In short, you can spend a lot of time looking for house insurance for an old house. But if your home was built before the 1950s, you already know – or you will soon learn – that some insurance companies just will not offer you coverage.
Want to save all that time and effort? An insurance comparison website can automatically weed out the companies that will not insure you, giving you quick quotes from viable companies.
In addition, since you will get multiple quotes, you'll be able to compare them and choose the policy that's best for you.
Choosing a Policy
Some special considerations you need to consider when purchasing a homeowners policy for an older home include:
* Whether the policy will replace your home with new construction or with historically accurate materials and designs. If your home is merely old, new construction may be fine with you.
But if your home is of historic value, you may have to pay extra for a "replacement in kind" policy. Such a policy ensures that the workmanship and materials used to rebuild your home will restore it's historic nature.
* Whether the policy requires you update your renovate the wiring, plumbing, heating, and other systems within a certain time period or the insurance policy will be canceled
To help keep your premium as low as possible, consider setting a high deductible. Also find out if there are any discounts you qualify for, such as an auto-home discount or a discount for installing fire extinguishers and other safety systems.