Anyone had difficulty insuring a historic home?
September 12, 2010 7:30 PM Subscribe
People having difficulty insuring a historic home?
I am writing an article for a historic preservation magazine on the subject of getting insurance for historic homes. Some owners of historic homes have difficulty getting adequate insurance, if they can get it at all. Some find that after a fire or flood, their regular homeowners insurance doesn't begin to cover the value of their home, which is much more than just replacement value. There is a special type of homeowners insurance called HO-8 that addresses these issues, but often it is still not enough. Has anyone had problems in this area? I am trying to find home owners to talk to for my article, can you point me to some resources?
I am writing an article for a historic preservation magazine on the subject of getting insurance for historic homes. Some owners of historic homes have difficulty getting adequate insurance, if they can get it at all. Some find that after a fire or flood, their regular homeowners insurance doesn't begin to cover the value of their home, which is much more than just replacement value. There is a special type of homeowners insurance called HO-8 that addresses these issues, but often it is still not enough. Has anyone had problems in this area? I am trying to find home owners to talk to for my article, can you point me to some resources?
Well, this may be anecdotal but we own a 96 year old home with shake shingle roofing that was done in the late 60s. We are locked into our current insurance carrier and premiums because nobody wants to insure shake shingle roofing anymore. We keep hoping a hail storm will carry it off and we can replace it, but no such luck. Is this the kind of information you are looking for?
posted by tamitang at 10:01 PM on September 12, 2010
posted by tamitang at 10:01 PM on September 12, 2010
Do you have time to put a question in the current issue of the magazine or send it out by email to subscribers seeking people with these experiences? My college alumni magazine frequently does this for upcoming articles.
posted by Sukey Says at 5:00 AM on September 13, 2010
posted by Sukey Says at 5:00 AM on September 13, 2010
Try talking to an indepedent agent. I'd recommend one of the higher-end ones - Fireman's Fund, Chubb, AIG. Fireman's Fund in particular is known for being able to insure anything. And while an HO-8 form is a good one used for historic homes, another option (less coverage, though possibly more available) are dwelling fire policies.
posted by a robot made out of meat at 8:45 AM on September 13, 2010
posted by a robot made out of meat at 8:45 AM on September 13, 2010
You might try posting to the Old House Journal forum or, given your name, make contact with the good folks at the Historic Chicago Bungalow Initiative. Also, you could try the This Old House forum.
As old house livers for years, we've always paid extra for replacement value insurance, but have never had any major issues where it has come up short.
posted by pappy at 10:36 AM on September 13, 2010
As old house livers for years, we've always paid extra for replacement value insurance, but have never had any major issues where it has come up short.
posted by pappy at 10:36 AM on September 13, 2010
Response by poster: Many thanks to all of you for replying.
posted by kim in chicago at 11:28 AM on September 19, 2010
posted by kim in chicago at 11:28 AM on September 19, 2010
This thread is closed to new comments.
posted by 517 at 8:17 PM on September 12, 2010