Would updating your home save on insurance costs?

It’s not only potential buyers who may be put off by some ageing features of homes; insurance companies aren’t too keen either.

The Financial Post reports that features such as oil-fuelled heating systems can add to the cost of premiums with insurers preferring more efficient and safer electric or forced-air systems instead.

Other things likely to make your home an insurance liability include aluminium wiring, lead pipes and shingle roofing.

While a swimming pool can be an attractive feature, it is also likely to add to insurance costs due to the additional cost of potential rebuilding. 

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