Real Estate News

How Much Will Home Owners Insurance Cost?

If you are purchasing a home here are some things to consider when it comes to insurance, I hope you find it helpful.  I can refer some terriffic insurance agents for Fairfield County CT (Stamford, Greenwich, Darien, Westport, Fairfield etc.), it’s best to shop the rates around and compare apples to apples when it comes to policies. 

The price of insuring a property can raise the cost of ownership significantly.

There are various factors that affect the cost of insuring a home:

· Location. A home near a fire hydrant or protected by a professional fire department, as opposed to volunteers, will cost less to insure.
· History of claims. Previous claims push up the cost of insurance. Ask the seller to provide a home’s insurance claims history report. This information is available from the sources: The CLUE report is $19.50 and can be purchased at: http://tinyurl.com/26m57uo. The A-Plus report is $9 by mail and $13 by fax and available at: http://tinyurl.com/293slq7.
· Need flood or earthquake insurance? Policies for both of these perils are sold separately and can be pricey.
· How old are the systems? Electrical and plumbing systems that are less than 10 years old cost less to insure.

Source: Associated Press (04/23/2010)