We're quite concerned about our old country home. Does home owners insurance cover damages caused to the structure of older homes?
Total Comments: 6
Posted: Tue Apr 13, 2010 12:01 pm Post Subject:
I guess it covers structural damages. Perhaps, it also covers cost of relocation if your home becomes uninhabitable while it gets repaired.
Posted: Wed Apr 14, 2010 01:50 am Post Subject:
Structural damage is NOT normally covered by a Homeowners insurance policy, depending on the type of damage. If you're talking a fire, yes- it would be covered under most circumstances.
If you're talking foundation, walls, etc and associated problems associated with poor workmanship, foundations cracking, sinking, etc...then there isn't any coverage.
InsTeacher 8)
Posted: Wed Apr 14, 2010 10:09 am Post Subject:
Is it just an older home? Or is it a historic home? If, it's an older home you may simply get a home insurance policy. I guess HO-3 would cover the structural damages.
Posted: Thu Apr 15, 2010 07:33 am Post Subject:
You're probably right that the HO-3 covers damages caused to the structure of your home.
When it comes to older homes, I think the HO-8 option is more suitable. It doesn't cover the expenses that you may incurr while repairing the structure, instead it covers your home for it's market value.
Posted: Fri Apr 16, 2010 05:52 am Post Subject:
It will be a lot cheaper if you'd like to cover an older home based on its value. It will be dearer if you wanna cover its cost of replacement. Your home insurance would probably cover the antique parts e.g. doors. I'm sure your carrier would choose to replace such features than paying for repairing it.
Posted: Fri Apr 16, 2010 08:22 am Post Subject: Old home insurance
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.
Posted: Tue Apr 13, 2010 12:01 pm Post Subject:
I guess it covers structural damages. Perhaps, it also covers cost of relocation if your home becomes uninhabitable while it gets repaired.
Posted: Wed Apr 14, 2010 01:50 am Post Subject:
Structural damage is NOT normally covered by a Homeowners insurance policy, depending on the type of damage. If you're talking a fire, yes- it would be covered under most circumstances.
If you're talking foundation, walls, etc and associated problems associated with poor workmanship, foundations cracking, sinking, etc...then there isn't any coverage.
InsTeacher 8)
Posted: Wed Apr 14, 2010 10:09 am Post Subject:
Is it just an older home? Or is it a historic home? If, it's an older home you may simply get a home insurance policy. I guess HO-3 would cover the structural damages.
Posted: Thu Apr 15, 2010 07:33 am Post Subject:
You're probably right that the HO-3 covers damages caused to the structure of your home.
When it comes to older homes, I think the HO-8 option is more suitable. It doesn't cover the expenses that you may incurr while repairing the structure, instead it covers your home for it's market value.
Posted: Fri Apr 16, 2010 05:52 am Post Subject:
It will be a lot cheaper if you'd like to cover an older home based on its value. It will be dearer if you wanna cover its cost of replacement. Your home insurance would probably cover the antique parts e.g. doors. I'm sure your carrier would choose to replace such features than paying for repairing it.
Posted: Fri Apr 16, 2010 08:22 am Post Subject: Old home insurance
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.
Add your comment