If you own an older home in Marietta, then you’ll have some special considerations to make when purchasing homeowner’s insurance. Older home bring certain challenges that newer homes simply don’t have.
Don’t worry, though—your Marietta homeowner’s insurance agent can help you get the coverage you need without breaking the bank. Here are four facts you need to know:
1. Updating your home can result in lower homeowner’s insurance premiums. An older home that has not been updated in several decades may not meet current building codes. Outdated plumbing and electrical wiring can create huge risks. Asbestos and other less than safe building materials can also be a problem.
Taking the time to invest in a modernization project can go a long way toward getting lower Marietta homeowner’s insurance rates, as well as providing extra safety for your family. Depending on what you do, updating your home could also result in energy savings, putting even more money back in your pocket.
2. You may need a home inspection to obtain homeowner’s insurance. A home inspection can tell your insurance company how big of a risk your home is to insure. If the inspection goes well, you may still pay a somewhat higher premium, but you will be able to obtain coverage.
If the inspection reveals significant problems, however, your Marietta homeowner’s insurance company may require you to address these issues before offering coverage. Ask your agent if this is a requirement with your company or not.
3. Your home’s foundation is a big deal. While it is true that many things built in the days of old were built to last, it doesn’t do much good if the foundation is unstable. Poor foundations mean a higher risk of major structural damage, which translates into bigger payouts on claims.
Find out what kind of foundation your home sits on and if there is anything you can do to reinforce it. Making the foundation more secure can do a lot to lower your homeowner’s insurance premium.
4. Certain building components used decades ago are incredibly difficult, and expensive, to replace. If your older Marietta home features plaster walls or antique hardwood floors, then replacing these components will be a major challenge. Many of these materials are discontinued and are only used by restoration specialists today.
If you want to be able to restore your older home to original in the event of a loss, then you’re going to pay more for homeowner’s insurance. However, if you would be willing to replace plaster walls with drywall, or use whatever modern flooring is available, you might be able to get a break here. Ask your agent for details.
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