Buying a New Home? Remember to Consider These 4 Insurance Factors
Keep These Considerations in Mind When House Hunting
Whether you’re a first-time home buyer or a seasoned property owner, it’s important you consider insurance when looking for your next house. After all, you will most likely need home insurance in Thousand Oaks, CA because your mortgage lender requires it. Insurance rates can vary, and these homes features will largely determine the cost. When you’re viewing properties, consider these insurance factors.
Fire Station Location
How far away is the nearest fire department? Homes that are near fire stations (or even water hydrants) will usually cost less to insure. This is because fire aid is closer, so the home has a better chance of survival.
Condition of the Property
If the home has been built recently by a reputable builder using disaster-resistant materials and designs to meet current building codes, you can expect lower insurance rates. If a home is more likely to withstand natural disasters, the insurance premiums will inevitably be lower.
Condition of the Plumbing/Electrical Systems
Poorly maintained, unsafe, and old systems can cost more to insure. Although you can update these systems when the home is yours, consider the initial cost of insurance when the systems are at their most dangerous.
Swimming Pool/Hot Tub
If your dream property has a swimming pool/hot tub/child’s playground or all three, be prepared for higher insurance rates. These features, although they add fun to any property, have an innate risk of liability. Insurers will see these features as a concern and will raise the cost of coverage.
Once you’ve found your next property, remember to secure reliable home insurance coverage. To find the right coverage for your needs, work with one of our friendly and experienced agents at Falsken & Associates Insurance Agency serving Thousand Oaks, Westlake Village, and neighboring cities in California.