“There can be a big difference in the cost of insurance between an older home and a new home. In many cases, the older house will cost more to insure due to the higher replacement cost.
Does your new, older home have most of its original:
- stained glass windows
- detailed trim and molding
If so, these charming features are near impossible to replace. The cost of using similar materials can make the premium much higher than the readily available construction materials for a newly built home.
The risk of an older home is much higher as well. It may have outdated plumbing and electrical or any work done to update the home may not have been done by a professional.
Older homes have a statically higher risk of catching fire. Since you mentioned a pond near buy, is this the only local water source to extinguish a potential fire? If you are in a more remote area and a fire station is more than five miles away, this hazard will be reflected in the premium.
Any time you have life changes, it is a great time to re-shop both your home and auto insurance
Using the free Jerry
app will help make this happen! Jerry collects auto and home quotes from over 50 carriers and brings the lowest available rates right to your phone.”