Living in a traditional home can seem boring and mundane if you have much more peculiar tastes, and actually, the interest in extreme homes is on the rise. You can find houses that are built in odd shapes, such as cones and domes, or even homes that are created from things that were never meant to be homes at all like storage containers and boulders. While these houses are no doubt pretty cool to own and show off, they can also come with a small quandary; homeowner's insurance may be more costly to obtain. Here is a look at why that is the case.
1. The value of your property can be questionable at best.
Insurance companies will look at the value of your property to determine what size policy you will need for ample coverage in the event something happens. In other words, the insurance company wants to make sure that if there was something that occurred and you lost your home, what they would pay because of your policy would actually cover the loss. Extreme homes often do not have an easy-to-assume value because they are incomparable to other homes and properties. Sometimes, these homes are assumed to be of higher value because they would be more expensive to build back, which would mean a higher policy.
2. The home's materials may not be as stable and sound.
If you have an extreme home that is built out of something that is not really considered traditional building materials, you may pay more for homeowner's insurance coverage than usual. For example, if you have a home that is mostly built out of glass, the house may be more susceptible to damage if a small fire occurs and riskier to insure because of that fact. Whereas a traditional home would have fire-resistant features and elements to combat the spread of a fire, an extreme home may not have the same safeguards in place.
3. There could be a greater risk of property damage during weather events.
Traditional homes have slowly evolved over centuries to become as safe and sound as they possibly can be. If you have a home that is built in an off-the-wall fashion or odd shape, it may not be as resilient to weather events as a traditional house would be. Therefore, there could be a bigger chance of your house sustaining damage during things like high wind, flooding, or even hailstorms.
For more information, contact a company like Bishop Insurance Agency.