09/26/2025
‼️ Home Features That Could Raise an Insurance Premium ‼️
There are obvious details like a pool, finished basement, or using a home for a business that could increase home insurance costs, but you may not be aware that things like oil-based heating and aluminum wiring can also figure into the premium cost.
Some key areas that can factor into your insurance payment:
• Expensive items: Jewellery, art, musical instruments, wine collections, and sporting equipment lead to extra premiums, or required “riders,” for coverage. Keep the list updated so you’re not insuring an item you no longer own.
• Swimming pools: Pools obviously represent higher liability.
• Fireplace/woodstove: Wood stoves are a source of fire and smoke damage. Insurers may look for additional premiums and/or require an inspection first.
• Oil-based heating: Today it may be regarded as an environmental hazard. Insurers prefer electric heat or forced-air gas furnaces.
• Aluminum wiring: A type of wiring used in houses in the 1970s, insurers don’t like it because of its potential to overheat at connection points.
• K**b and tube wiring: This very old wiring – not well suited to today’s high energy consumption levels – requires connectors that use k***s to keep the wires isolated. Insulating tubes guide wires through walls.
• Galvanized or lead pipes: These are more likely to corrode, resulting in a negative impact on water pressure, water quality and, from an insurance company’s point of view, maybe a flood.
This is a practical checklist. You’ll want to check with your Insurance Broker for a more detailed list.
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