Can I Buy Just Fire Insurance on a House?
This house that I'm trying to get is a fixer-upper. It's also 100-years-old. That's what we want and love. I started calling around for homeowner's insurance quotes. The house is in NJ and I am in VA. I was getting quotes triple, or more, what I expected. Some companies wouldn't insure it at all because of the age. All the wiring, plumbing, heat, windows, everything is brand new--it just has to be put back together again which will take us a month. We can't get a certificate of occupancy until we do this and so can't move in. Some insurance companies said it's effective age will be 25-years-old because of the new systems but they won't insure it either because it's still in renovations. Other companies want to insure the outbuildings that we don't want insured because they want them in good condition. They want us to repair these outbuildings and we plan to do that but not right away. For example, one company wants a roof certification. It's not leaking but no roofing company will certify it because it's not in great shape. Anyway, it's something my husband is going to do himself in about a year. I started asking the companies for quotes on fire insurance alone because that's all I am worried about! I'm not going to have a mortgage so no bank has a say in this. I don't have anything valuable and I don't put claims in. If anything happens to the house, other than fire, we will take care of it ourselves. I want insurance for a fire catastrophe. Is that possible? Are they just trying to sell me products? These insurance companies are leading me to believe I have no choice--"Oh no, you HAVE to insure your outbuildings," and "Oh no, the replacement value is what we go by even though you are paying half that for the house..." The NJ Dept. of Banking and Insurance was no help. I need to find affordable insurance.
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