by Guest » Fri Nov 11, 2005 11:04 am
I have bought an older house. It requires a lot of works to do; the painting, the patch works to the car port. Also the rotted woods to be repaired as those are being damaged. I have no experience of insuring a home. Should I keep these things out of insurance? Any help will be appreciated.
Posted: Mon Nov 14, 2005 10:24 am Post Subject: Insurance on older house
No need perhaps to keep the things you mentioned, out of insurance. Those are minor things. The insurance companies generally check for the roof, fireplaces, electrical.
Posted: Wed Nov 16, 2005 11:16 am Post Subject: Insurance on older house
I would say relax...
It will not affect the cost of your home insurance policy. But for a home loan, the structural conditions of your home will be considered. Most lenders deny providing loan if there is any structural damage to your home.
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