Whether you’re a first-time home buyer or you’ve done this all before, there’s a lot to think about when you’re hunting for a new home, and you probably have hundreds of questions bouncing around in your head. Is it in a safe, friendly neighborhood? Does it have a secure backyard where my dogs can run free? And how far away is the nearest grocery store? But have you thought about how different parts of the house itself could impact the cost of your home insurance, and even your eligibility for coverage? While you’re picturing life in a new home, don’t forget to ask some important questions about the house.
If you own or are considering purchasing a home that's more than 30 years old, there may be some unexpected insurance requirements to consider. Updates to the plumbing, electrical, roof, and heating systems are the most common, and failure to meet the insurance companies requirements could result in you not getting a renewal or a new policy (...)