Many of Salt Lake City’s older homes possess a distinct charm, characterized by classic architecture, character-filled details, and a timeless appeal. But beneath the surface, they also come with unique insurance challenges that homeowners often overlook.
4 Unique Insurance Risks of Older Homes
Here’s what you need to know about insuring older homes in Salt Lake City.
1. Outdated Systems and Hidden Age-Related Issues
If your home has aging plumbing, electrical, or HVAC systems, insurers may see increased risk. Coverage depends heavily on the condition and age of major components. Unexpected pipe bursts or electrical failures are more likely and more costly in older properties.
2. Higher Replacement Costs
Older homes often feature non-standard materials (brick, stucco, or custom trim) that are pricier to repair or replace. Unlike newer homes, using period-appropriate materials or craftsmanship may be necessary, which ramps up costs significantly.
3. Roof and Structural Age
Insurance claims related to roof damage are often denied if policies consider the roof’s age and upkeep history. Older roofs may lack current safety features, such as modern fire retardants or updated underlayment, making them more vulnerable to weather damage.
4. Code Compliance Upgrades Required
In the event of a rebuild or repair, older homes may be required to meet today’s building codes. That means additional expenses that standard policies might not cover unless “code upgrade” coverage is added. Review your policy limits to ensure key upgrades (like new wiring or reinforced roofing) are included.
Endorsements to Consider
- Code Upgrade Coverage: Helps cover costs to bring rebuilt sections up to modern safety standards.
- Water Damage/Sewer Backup: Especially important in older plumbing systems prone to line failures or flooding.
- Personal Property Endorsements: Antique furniture or art often exceeds basic personal property limits and may need separate coverage.
Proactive Risk Management
We encourage regular inspections and maintenance. Keeping your roof, electrical systems, and plumbing in good condition can help prevent many claims, as well as maintain the validity of your policies.
Your Action Plan
- Schedule a Policy Review: Our insurance agents can compare your current coverage and identify any gaps that leave you vulnerable.
- Get Proper Valuations: Hire a knowledgeable appraiser to help determine accurate replacement costs.
- Bundle Strategically: Older home upgrades are excellent opportunities to bundle policies—ASA offers competitive rates when homeowners include auto or umbrella coverage .
- Maintain Records: Keep documentation of renovations, system upgrades, and professional assessments to support claims and policy reevaluations.
- Plan for the Unexpected: Adding endorsements for code upgrades and water damage gives peace of mind when unplanned issues arise.
Final Thoughts: Salt Lake City Home Insurance for Older Homes
If you love your older home, you want to protect its character and your investment. Generic insurance policies often fall short when covering history-rich properties. That’s why ASA Insurance takes a personalized approach: working with independent carriers, assessing home-specific risks, and making sure you’re fully covered.
Don’t wait for a claim to expose your policy’s weaknesses. Contact us today at 801-486-7463 for a comprehensive review and a custom coverage plan designed for homes with a history and heart.
