Why is Insuring Older Homes in Connecticut a Challenge?

Older homes have an undeniable charm and appeal for many Connecticut homebuyers. The history and craftsmanship these dwellings can often drive up prices of a vintage home, but they are not without their quirks and flaws. When well maintained and properly cared for, older homes make a wonderful residence, however these homes often require a lot of additional care. Older homes can also be more difficult to insure, as they face a variety of additional risk exposures that require additional home insurance coverage.

Here are a few areas which frequently cause complications in older homes, and how these complications can impact the safety and durability of those dwellings.

• Water damage: Water is the number one cause of damage in all homes, especially older ones. Water damage can show up in nearly any part of a home, especially roofing, trim boards, basements, and water run-off systems. Water damage can lead to molding, rotting and structural instability. Mold and other deterioration can accumulate in the walls, ceiling, window and door frames, and other places throughout an older home, inevitably impairing the structural integrity of the property. These problems can be costly to address and create complications when trying to secure Connecticut homeowners insurance.
• Outdated or insufficient utilities: Older homes were not built to the same standards that modern homes are, and depending on the age of your home there could be large amounts of outdated and even unsafe electrical wiring, plumbing, ventilation and other utility infrastructure. The combination of old fuses and old wiring can become a problem when put to modern use. Older plumbing systems are often unable to handle multiple washrooms and water closets, and even the piping could be leaky, corroded or make of hazardous materials such as lead. Many insurers find old utility systems too costly to insure due to their vulnerability to malfunction and failure.
• Termites and insect infestations: Termites are known for chewing through wood, flooring and even wallpaper, are a large problem for owners of older homes. According to the National Pest Management Association, termites cause approximately $5 billion in property damage every year. Additionally, other insects making their homes in the walls and wood of older homes can decrease the structural integrity of the property as well and create dangerous living conditions.
• Lead: Prior to the 1970s, lead was a common additive in many construction materials from pipes to paint. It is not uncommon to find lead paint still lurking below layers of wallpaper of other paint in older homes. Lead is a major health concern because it is a widely acknowledge toxin that can lead to respiratory illness and cardiac arrest. According to the Environmental Protection Agency, the average lead paint removal project costs $10,000 to have all surfaces properly removed safely.

At Byrnes Agency, we know that every home is someone’s castle. That’s why we strive to help Windham County homeowners find the homeowners insurance solutions they need to protect their assets. Our Connecticut insurance agents work with some of the most respected carriers in the country which allows our agents to provide clients with competitively priced comprehensive insurance solutions. Our Windham County personal insurance specialists can help you find the perfect balance of coverage and affordability to ensure that your assets are protected. To learn more about our operation and all our offerings, contact us today.