Hints for Insuring Historic Properties:

You Get What You Pay for. If you have an older or historic home with special features, you can purchase a standard homeowners or you can purchase a policy designed for historic homes.

ASK! In the event of a serious loss – how would I fare? Talk to us about special coverage essential to restoring a historic home to its original splendor. Does your policy include Guaranteed Replacement Cost, Sewer & Drain back up, Replacement Cost for contents, Unlimited Loss of Use coverage, Ordinance & Code coverage and higher internal limits for jewelry & fine art?

Increase Your Deductible. Most insurance companies give significant premium credits for higher deductibles. Nothing jeopardizes coverage availability & price stability quicker with insurers than several small claim submissions. Increasing your deductible to $1,000 or $2,500 is a great way to offset the increased premiums associated with insuring your home properly.

Guaranteed R/C is a Must! This covers the full cost of rebuilding regardless of policy limit. Many insurers no longer offer this coverage or sell it at 115% or 125% of the policy limit. Unfortunately, many homeowners insurance policies don’t take into account all of the cost factors of rebuilding historic homes, especially scarce materials & old-world craftsmanship.

“Itemize” Significant Valuable Items, (jewelry, fine arts, silver, cameras, musical instruments), to avoid policy sub limits & deductibles, & to achieve breakage for fragile articles and agreed value for your valuables. Also video tape your home and contents.

Save Money – Insurance companies offer many credits. Take advantage of them. Consider installing central station monitored fire & burglar alarms and make sure your insurer is aware of any recent renovations. Consolidate Policies with One Insurer, where possible, to achieve package discounts, avoidance of coverage gaps, and easier administration, particularly if common effective dates are used.

Purchase “All Risk” Coverage on Dwelling and Contents”. Most policies are written on a named peril basis. This provides more restricted coverage.

Call us – We can put a proposal together for you. If you would like to speak with us, please contact us at 866.269.0944