Why are new Homes in Wenatchee cheap to insure?



At Wenatchee Insurance, we get this question a lot about new homes and the price of insurance. Central Washington residents love buying new construction homes in Quincy, Leavenworth, Lake Chelan, Entiat, and all around the countryside. There are definitely hot, new built homes in the area.

 It's great to move to a brand-new home and not have to worry about anything other than how to set up your internet service and have enough storage space. Typically, there is no painting, no repairs, no cleaning out the back corner of the basement, or other hassles that come with a pre-existing home purchase. One of the other things that people take comfort in when they purchase a new build is that the cost of insurance is incredibly cheap compared to older homes. We are often asked how this is possible. There are a bunch of factors at work. Let's take a closer look!



Number one on the list is going to be the fact that the house is shiny with the new house smell. Seems obvious right? Think of it from this perspective though. If a toilet is brand new, is it likely to have a problem that will flood the house? If the roof is new how likely is it going to leak? Home insurance companies realize this and rate accordingly.


The newer the roof the better you are!
Number two on the list is going to be related but is roof specific. One thing that we've seen with all of the wind activity in Central Washington over the last few years is that a brand new roof, that is properly installed is less likely to have been damaged with lost shingles. Make no mistake, your awesome roof will not stand up to a hundred-year storm but those don’t come around that often. And the insurance companies know this.

Number three on the list is simply that the companies want you as a customer. Seriously. Dirty insurance secret time. Brand new homes are often bought using a loan. Mortgages can require you to escrow the taxes and insurance. The companies realize that customers with a policy in escrow are much more likely to hang around as a customer longer since they don't directly realize how much the insurance premium will change over time. Guess what that means? They know you're going to hang around while those premiums increase over the first few years. They are using a 'intro rate' to build up a track record to ‘if it ain’t broke then don’t fix it model.’



What does this mean for you the homeowner? Enjoy the savings while you enjoying the new home smell. Wenatchee Insurance recommends working with an independent insurance agent to insure your home. They can help keep an eye on that premium and provide long-term options to help keep the price in check. Talk to us to see how these options can affect your new home purchase!



Topics: home insurance, Washington property insurance, independent insurance broker, Wenatchee, Sunnyslope, Quincy, Lake Chelan, Wenatchee Insurance


Location: 413 N Mission St, Wenatchee, WA 98801, USA

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