Did you know that the average sewer line was built to last 50 years? For those homes built in the 70’s and 80’s — they are reaching the end of their life expectancy.
I recently called all the insurance agents on my vendor list to ask them one specific question:
If one of my clients writes an offer on a listing, can I pay the seller to add Sewer Line coverage to their homeowner’s insurance policy? Thus protecting my buyer and the homeowner?
Their answer: “Nicki, it depends on the coverage they have. Some insurance policies, you can only add additional coverages when you renew, and some take time to go into effect.”
My purpose in writing this post…
1 out of 3 contracts has a sewer line fail, repair, break, off-set joint, large dip (this is not a stat off the internet but a stat from the # of contracts in my office) — if the seller would have only had a sewer line rider on their insurance (very inexpensive to add) – they could have saved themselves thousands of dollars.
No matter the age of the property, we are seeing sewer line issues across the board – clay, lead, new sewer lines.
I encourage everyone to call their insurance company and get this added, and if you know of anyone who is selling their home or plans to sell their home in the next year – pass along this information to them. A great way to protect your friends and family!