Home Insurance and What You Need to Know When Buying a New Home.

When you are purchasing a new home, one of the most important things to arrange before closing is Home Insurance.  But just what information do you need to know about your new home before calling your Insurance Agent?

Cameron Head, Insurance Agent with Allstate Insurance, Peterborough was kind enough to share with us some of the major items he looks at when someone is looking to put Home Insurance in place.

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Cameron says “These are some of the major questions we need to know when insuring a house, which could lead to different pricing and/or not being able to insure it. It’s helpful to know these things before purchasing the home“.

Woodstoves

We require a copy of the W.E.T.T certificate with confirmation of who inspected it and on what date.

The W.E.T.T certificate must be dated within the past 5yrs.

Oil Tanks

Inside Oil Tanks – must be 20yrs or newer;  

Outside Oil Tanks – must be 15yrs or newer;

We need to know:

  • What type of tank it is i.e – Granby; double wall, single wall, gage type;
  • Who filled it last and when;
  • Who inspected it last and when.

Roof Condition

If at all possible, try and find out the year the roof was installed and what type of shape it is in.

Past Claims

Have there been any claims on the house within the past 6yrs such as:

  • Water damage?
  • Wind damage?
  • Any other property damage?

Sump Pump

Does the home have:

  • A sump pump?
  • Back flow valve?  
  • A battery power back up?

Electrical

How new is the electrical and when was it updated last?

Most homes are circuit breakers and 100 or 200 amp – we do not insure Knob and Tube or 60 amp service.

Plumbing

How new is the plumbing?

We do not insure galvanized plumbing. Most homes have copper plumbing and have been updated.

You can contact Cameron directly at by telephone on 705-304-1571 or by e-mail at chead@allstate.ca and his office is located at 815 High St. Unit 8 Peterborough ON K9J8J9.

 

 

 

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