Why are older homes more expensive insurance?
Why are older homes more expensive insurance?
Older homes are viewed by homeowners insurance companies as higher-risk than newer homes — they can be fragile, their construction materials may be obsolete, and certain structural components like the roof or plumbing may not be in very good shape — and therefore homeowners insurance premiums for old homes are …
What are the three main types of property insurance coverage?
There are three types of property insurance coverage: replacement cost, actual cash value, and extended replacement costs.
Which form of coverage is more inclusive?
Special Form policiesSpecial Form policies are the most inclusive and read differently than Basic and Broad Form. That is, Special Form policies include coverage for direct loss from all perils unless they are specifically excluded. Apr 25, 2015
