Quote:
Originally Posted by rjm1cc
I would find several insurance brokers in the area and ask then how the age affects the ability to get insurance.
For 20 years old homes the roof has probably been replaced so be sure to discuss roof requirements for homes and what proof you will need if the roof was replaced.
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Good advice ! But... keep in mind shopping/comparing companies should be your top priority but don't expect to be "thrilled" with the results, just like auto insurance, the price of insurance is sky high everywhere and who knows how it will all end ? Insurance was always a risky business, you make money and you incurred losses, but gradually the insurance companies began to fundamentally change that, like casinos, they understand there will be some losses, but they have structured, like casinos, to make certain the "house" always comes out with a profit. While casinos often publicly acknowledge the HUGE losses they have endured ( so and so won 5 MILLION dollar at our slot machine.... etc.), so do insurance companies, pointing to lightening, flooding, tornadoes, hurricanes, typhoons, and hail, among other "causes" of large losses. In other words, the same weather phenomena that have been with us since insurance first was developed into a for profit business. It was give and take, but overall, of course it was managed to make a profit. Now, giants have stockholders who expect profits, and companies just continue to make sure those profit levels continue to rise.