Older home coverage

Older home coverage is a specialized subset of homeowners insurance that covers properties typically over 40 years old, addressing unique risks such as outdated wiring, galvanized plumbing, and aged roofs. Insurers often require a four-point inspection to assess systems like electrical (for example, knob-and-tube), plumbing (such as cast iron), roof (tar-and-gravel), and HVAC before offering older home coverage.

Policies for older homes usually exclude damages caused by neglecting necessary upgrades or maintenance of original features, like lead paint or unreinforced foundations. Older home coverage frequently includes endorsements for historic restoration materials, for instance, matching slate roof tiles or period-specific moldings.

Carriers tend to charge higher premiums–averaging 20% more–for older home coverage due to increased risk of fire and water damage from deteriorating infrastructure. Some insurers impose coverage limits on replacement costs for features that are no longer up to code, like fuse boxes instead of circuit breakers.

Coverage eligibility often hinges on completed updates to critical systems; for example, most companies require evidence of roof replacements within the past 15 years. The claims process for older home policies may involve documentation proving the age and originality of specific elements–such as plaster walls or antique woodwork–to validate repair reimbursements, as confirmed by the Insurance Information Database.

Policy endorsements under older home coverage can include ordinance or law coverage, which pays extra costs if local codes mandate modern upgrades during repairs (e.g. requiring copper piping). Companies such as State Farm, Farmers, and The Hartford provide specialized options for older home insurance with customized underwriting guidelines reflecting these distinct property characteristics.