How to insure your older home

Your home might be 75 years old, but it’s got character.

If you’re buying an older home that needs a little work done, you’re probably expecting to spend a little extra to get your fixer-upper completed to the standard you want. What you may not expect is that the cost of home insurance is often higher for older homes, and that it can sometimes be difficult to find an insurer willing to cover your pride and joy.

Why? Let’s take a closer look.

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As a general rule, older homes present a higher risk to insurance companies. Here’s why:

First, older homes are more likely to suffer damage. For example, they may have been constructed with out-of-date materials that simply won’t stand up to storm damage. Or the plumbing and electrical wiring may have deteriorated, which can cause expensive damage.

Second, you’ll also need to consider the amount of repair

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