Homeowners Insurance Frame Vs. Brick Cost

Everything boils down to risk when an insurance company calculates your homeowner's insurance policy premium. It is about the likelihood that the insurer will have to pay out on your policy. Of course, higher risks typically result in higher premiums, and an insurance company will take several factors into account. The age and location of your home, for example, can impact the premiums you pay. Another critical factor is the materials used to construct a house.

Risk-Resistant Durability

The three little pigs discovered that straw and stick houses are not as durable as brick or stone houses. Although your new home is unlikely to be threatened by an evil lupine windbag, there are some other risks. Fire and high winds and the debris they can propel pose less of a threat to brick houses than to wood houses.

Wood frame construction is less resistant to these hazards, and it is especially vulnerable to fire and pest damage such as termites. Because of these factors, brick or masonry houses are frequently less expensive to insure than wood-framed houses.

Earthquake-Prone Areas Are Exempt

While it is true that – all else being equal – brick-built homes are often less expensive to insure, there are a few situations in which their benefits can turn into liabilities. For example, in earthquake-prone areas, the rigidity of brick construction can make it more vulnerable to damage than a wood-frame house. As a result, if you're thinking about buying a brick-built home near a fault line, expect your premiums to reflect the increased risk.

Other Insurance Considerations

While building materials can impact insurance costs, they are only one of several factors that insurance companies must consider. Other factors, such as a house's age and location, local crime rates, and proximity to a fire department, can also impact insurance rates and potentially outweigh any benefits from specific construction material. If a house is built in a coastal region prone to hurricanes or landslides, the location may outweigh any cost savings from construction materials.

Prior Claims And Risks

The claim history of the house is one factor your insurance company will consider that you may not be aware of. If the house has a history of payouts, you can expect a higher premium. If you're thinking about buying a house, hiring a professional inspector is a good idea. Before you inherit them, the inspector can identify risks that are likely to raise a red flag with your insurance company.