Homeowners Insurance Older Home Form (HO8)
what is an older home
or ho8 policy ?
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
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
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.