Are brick homes cheaper to insure?

+1 vote
asked Nov 12, 2020 in Insurance by DreivinX (1,040 points)
Are brick homes cheaper to insure?

1 Answer

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answered Nov 12, 2020 by Ced98axelan (1,320 points)
Brick homes are usually cheaper to insurance than wood homes are.

However brick homes do use wood construction underneath them but they have bricks that side the house instead of wood or Vinyl.

But that brick siding can help protect the home from fire that gets up to to so that is how it helps save you some money on homeowners insurance.

Brick Homes also usually hold their value better as well than wood or vinyl siding homes do.

If you got a home construction loan you do need to insurance the home during construction.

However you don't buy regular homeowners insurance for a home under construction.

But instead your insurance company should cover the home under construction with an insurance coverage policy known as Builders Risk Insurance.

Ask your homeowners insurance company for insurance for a home under construction.

Because anything can happen and although most homes are built without any damage done there's always the small risk that something may happen.

Then you would lose all that money you spent on the construction materials and the money you pay the builders to build the home.

Always get insurance on a home that is under construction just to be safe.

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