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Tips for Buying Home Insurance for an Older Home

If you love the character and charm of older homes, and have the time to spend on repairs and maintenance, then buying in a mature neighborhood may be to your liking. However, there are some things you should know about your home insurance for an older home in Palatka.

Electrical System
Back in the day, homes were built with 60-amp or knob-and-tube wiring. Now, neither of those systems are considered acceptable by insurance standards. You will need to update your electrical system throughout in order to get insurance.

Oil tank
Today, there are strict standards about when oil tanks should be replaced, how they’re disposed of, and where they are placed on your property (tanks can no longer be placed inside the home). Typically, if the tank is more than 25 years old, it will need to be replaced. Even newer tanks may need to be inspected by the insurance company.

Mature trees
As beautiful and majestic as mature trees can be, they can cause problems both for you and your neighbors. If there are branches that overhang onto a neighbor’s property that causes damage to their property, you could be liable. Also, strong roots can wind around septic or sewer pipes and damage your foundation.

Galvanized steel plumbing, used in homes built prior to 1950, can rust and erode over time, making them a less-than-desirable choice for today’s homes. Your insurance provider may insist that you replace these old pipes with copper or plastic.

Wood burning stove
This can raise your premiums no matter how old your home is. A wood burning stove is a valuable feature, but it does come with obvious risks that may raise cost.

Home insurance in Palatka as well as other areas may cost you a bit more if you buy an older home; but it may be worth it if you love the old charm and grace that comes with it.

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