If you live in Florida or if you are thinking about buying a home here, the likelihood is that your home is over 30 years old. The older the home, the bigger the challenge it can be to find an insurance company in Florida to insure your home. You want to keep the historic charm, but you should also make sure the proper updates have been made to ensure your home is safe and in an insurable condition. When you consider cosmetic updates to your home make sure you are also considering functional updates that will keep the systems in your home in good working condition
Tips & Tricks to Insure Your Older Home:
- The ideal roof age is 15 years old or less for shingle roofs. If your roof is over 15 years old, the insurance companies will want to see that the roof has 5 years or more of life left and in good condition. You can extend the life of the roof with regular maintenance. Newer roofs will also result in reduced insurance premiums.
- The electrical panel is the heart of a home’s electrical system. If your home is older than 40 years, you might have an electrical panel that could be fire hazard. Federal Pacific Electric and certain Zinsco brand panels are known for their potential of a fire hazard. If you have either of these panels you will want to have a local electrician review your options with you.
- Any visible plumbing should be updated every 20 years. Most of the older homes will have galvanized steel. This type of steel is known for corroding over time and could cause significant water damage. All insurance companies will want the pipes underneath the sinks to be copper or PVC.
- A lot of the homes here in St. Petersburg have a crawl space foundation. Most insurance companies will require the openings of the crawl space to be covered. Although lattice is considered a covering you should speak with your insurance agent first to see if it is acceptable.
Know the Facts
Getting a 4-point inspection report from a licensed inspector is the best way to find out what issues might be brought up by the insurance companies if any. So many times we have seen clients buy a beautiful, updated home only to find out they have to replace the electrical panel or get some plumbing replaced. It is better to understand the full condition of the home prior to buying, not after!
Things Homeowner’s Insurance Will & Won’t Cover
Insuring older Florida homes can sometimes be an issue. If you thought your coverage was limited to only the interior and exterior of your home, it goes even further to cover the unthinkable. Not many homeowners are acquainted with all they are eligible for in their insurance plan, so be sure to ask your agent. For example, did you know a homeowner’s insurance policy covers for the losses caused by your pet bites and scratches? Contact us for a comprehensive insurance review to ensure you are properly covered!
Florida Insurance Experts
For almost 15 years, PBIG has been helping Florida residents by getting them the right coverage at the right price. We are locally owned, have a casual approach, and deliver professional results. Click below to get a no-hassle, free quote from one of our experts.