Things To Consider When Buying Or Remodeling A Home

The type and age of the home you live in, how it’s built and where it’s located can affect how much you pay for homeowners insurance. It can also impact how well your house will fare in severe weather or other natural disasters.

Whether you’re buying a new home or renovating an existing one, here are some tips to keep in mind:

• Location, location, location – Is the home close to water or on the coast? How far is it to the nearest fire station and water source? Chances are you’ll pay more for insurance when you’re on the water or far away from a fire station. Is the home located in a flood zone? If it is, you’ll probably need to purchase an additional flood insurance policy.
• Wall construction – Houses made of masonry or reinforced masonry withstand high winds better than wooden ones. In fact, insurance on wood frame homes can cost up to 10% more than brick or masonry homes.
• Age matters – New homes generally cost less to insure than older ones. New electrical systems and more weather resistant building codes and materials make them statistically less likely to be damaged from a storm or fire. Updated systems in an older home can help keep insurance costs down
• Hip roofs (roofs that have ends and sides that slope to eaves line) are more stable in high winds than those with gables. Gabled roofs can be braced to provide more protection.
• Roofs connected to wall studs by hurricane straps, wraps and clips are more secure than those attached by nails only. Connecting walls to the foundation provides greater support than relying on friction and gravity.
• Impact resistant glass and hurricane shutters provide protection against wind-borne debris.
• Roofs with solid plywood sheathing, a secondary water barrier and impact-resistant shingles increase strength and durability.
• Exterior structures such as decks and porches that are anchored to the house and ground are better able to withstand severe winds.
• Overall condition – Cracks in walls or ceilings, obvious water damage or dampness can be signs of costly structural damage or needed repairs. Poor home maintenance (old roofs, broken windows, etc.) can also make it difficult to find a quality insurer willing to insure a home – until repairs are made.