We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Finance

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Do Historic Homes Require Special Insurance?

By J. Beam
Updated: May 17, 2024
Views: 5,470
Share

Historic homes, especially those dating back to a construction periods over 100 years, have become popular pieces of real estate across the United States. Many homeowners choose historic homes for their architectural detailing, location, and uniqueness and have lovingly and laboriously restored a piece of history in the process. However, homeowners insurance can be a challenge for these special homes.

Historic homes located in areas that have been declared historic districts are subject to renovation and maintenance rules and guidelines. Individuals who take the time and make the effort and investment to restore and maintain historic homes should be certain they have adequate homeowners insurance. While there is no hard, fast rule in the insurance industry that states historic homes must carry special insurance, it is advisable for owners of historic homes to examine policies closely.

Due to the unique features of historic homes, the replacement value of certain structures may be priceless. A standard homeowner’s insurance policy may undervalue the total worth of a historic home. Replacing certain elements and structures of historic homes in the event of damage can not only be expensive, but can prove challenging if the homeowner chooses to use period-specific replacement material.

Though most companies that offer homeowners insurance will underwrite policies for historic homes like any other house, it is important for historic home owners to assess the coverage that is offered. They should be certain that coverage is adequate to rebuild or repair any part of their home in a manner that is both suitable to them and meets the requirements of the district where the home is located.

Some companies do specialize in insurance for special structures such as historic homes. These companies not only understand the value of insuring all or part of the historic home, they are also well-connected within the building sector and can direct homeowners to contractors who specialize in historic homes. These connections could prove invaluable for the homeowner who incurs damage to their historic home.

Buyers looking in the historic home market should make inquiries to real estate agents, insurance agents, and the historic district or neighborhood board of directors to gather information about companies that specialize or are equipped to cover potentially special needs of historic homes.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

Editors' Picks

Discussion Comments
Share
https://www.wisegeek.net/do-historic-homes-require-special-insurance.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.