Buying a Home?

Buying a home is one of the most exciting yet stressful times in your life. You find the home of your dreams, and come to find out it is full of issues that will cost a lot of money to repair. The key is to find out the issues prior to the final closing so you can be sure to have the original owners address the issues. When it comes to insurance, we would like to help you throughout the process and advise you what things can affect your rates and insurability. As soon as you find that home of your dreams, give us a call. We can guide you on what questions to ask so you can make sure to get the answers you need prior to closing.

Here are a few things to keep in mind when looking around with your agent or the homeowner for your new home:

• Be sure to consider the age of the home, some insurance companies offer discounts for homes under 10 years old and for homes over 20 years old, we will require a listing of updates on the roof, plumbing and heating.
• How is the home heated? If there is an oil furnace make sure it was serviced recently to improve efficiency. Your insurance company will want to know the age of the oil tank and where it is located and will also require a photo. Some homes have a secondary heating source or auxiliary heat source, such as a wood or pellet stove! That is great for cost savings on heat however, from an insurance perspective it may increase your insurance. Be sure to find out the age of the device and if it was professionally installed.
• Some neighborhoods have fire hydrants while others are close to a fire hall, this is something to consider when choosing your home. Insurance rates can be affected depending on the distance to a fire hall or hydrant.

If you have any questions about any of the above information or anything else regarding your coverage, please contact us and we will be happy to help you. Congratulations on your new home!