Homeowners Insurance Older Home Form (HO8)

what is an older home
or ho8 policy ?

Older Home Form is a good choice if the replacement cost value of your house is more than the current market value. These kinds of policies are available to owners who occupy homes, register landmarks, commonly used to ensure older homes, or other architecturally unique homes. Older Home Form policies are also cheaper than conventional home insurance policies.

Window shopping around is important when searching for home insurance for the right price and coverage. If you want to preserve the original features of your house, be sure that your policy will reimburse for the materials that aren’t standard anymore.

things to consider
in ho8 form

Instead of sheetrock, older homes usually have walls with lath and plaster. Sheetrock is less expensive but if you want to retain your house’s originality, maintain lath and plaster construction.

Consider your house’s lumber. Your lumber may not match the size of ceiling joists and wall studs in many older homes. Some insurance companies may want to perform a replacement for the lumber with the latest size. But you need to maintain the original dimensions to retain your house’s original construction. 

older home form
insurance policy

Consider other added costs to custom molding, trim, and solid core doors that should be personally made. Anyone with a historic house should be sure they search for a company that will insure them for the complete replacement value for original features. Some businesses have a cap on replacement cost at the insured value. You have to find a company that is willing to rebuild the house to the quality you need no matter how much.

Overall, insuring an older home gives home insurance companies many concerns. Some factors may affect rates for older homes as well as under a standard policy, the home’s insurability. Old homes normally have dated plumbing, wiring, and roofs which represent a higher risk of loss.

Other problems that can bring you to encounter difficulty getting insurance are original appliances, unusual building materials, or wood stoves. While these items are an additional charm to your home, the homeowners’ insurance company sees a more expensive claim.

These expenses rise with the home’s age. For example, a homeowners policy for a home over a century old will be greater than for a house that’s 50 years old. Home insurance rates for older homes will usually be greater than for the latest construction, which will only make it worse for the older home. If you have any questions about your personal Homeowners Insurance Older Home Form  Coverage policy, contact our experienced local insurance agents now.