Home Insurance Daily

by: Christine Zafra

A lot of old homes are in peril of losing their insurance if they don’t comply with the insurance company’s will. It is a common misconception that old homes have higher insurance since they have a higher market value, but the reality is, it’s the other way around. Old homes are fond of using aluminum for their electrical wirings. Insurance companies claim that these electrical wirings can overheat and if not spliced correctly. A short can also occur when these wires trip. There are some ways to distinguish a faulty aluminum wiring system and that is, if the box of the main switch has burn stains around it (the walls). You also have to smell if there is a trace of “burning electricity” in your homes. If these things are discovered by your insurance company, chances are, your insurance can go lower than expected.