Friday, October 31, 2008

Saving money on homeowner's insurance

I've learned, in the course of my shopping for homeowner's insurance, that the insurance companies don't like fuse boxes. This was finally made clear when the company I buy my auto insurance from refused to insure my house when they learned it had fuse boxes. A couple questions to another insurance company revealed a huge difference in premiums if I replaced the second floor fuse box with a circuit breaker. The difference was such that it would pay for the circuit breakers in two years.

This seems like it might be useful for others trying to lower their insurance premiums.


C&C said...

Our insurance company didn't want to insure anything build before 1950. We had to supply them with a copy of the inspection and then they also sent someone out to actually see the house. It was nuts! I'm glad you got your insurance and at a lower premium.

Mr. Kluges said...

You won't believe the nightmare we had trying to get insurance. The house had original 1920's knob and tube wiring throughout. We only found one insurance company (Chubb) who would carry us and that was only at full historical rates - $2000 a year for a $175,000 house. On top of it, they required us to replace the knob and tube wiring. It was a nightmare (although now it's nice to have a house with modern electrical).

We'll be changing our insurance this year.