Insurance Companies says won't insure properties more than 60 years old

[Justin H.]

I bought my first investment property a few months ago, a SFR. Starting to think about the next one now. I have all my personal lines of insurance (2 autos, 2 small term life policies, homeowners) and now my 1 SFR with Nationwide, through a local agent. He said to insure a rental property with them the property "must be less than 60 years old and have had recent updates (last 10-15 years) to roof, HVAC, electrical and plumbing".

I don't have a problem with the recent updates part of that but there are a number of areas locally I am interested in that have homes more than 60 years old. Is this something commonly encountered? Do certain insurance companies have more of a problem with this than others?