Buying a Historic Home? What to Know About Specialized Home Insurance

Historic homes often represent important landmarks in your community while also potentially bearing significant financial value. As the owner of such a property, you need to account for significant risks and exposures, often requiring greater care and attention to detail than you would with an ordinary house. At My One Stop Insurance Agency, we can help owners of historic homes understand their insurance needs and identify appropriate policies.

Why Is Specialized Coverage Important?

Historic homes often include various facets and components that might require customized or enhanced insurance policies. Antique fixtures, nonconventional materials and other unique architectural elements might not be easy to replace, rebuild or restore, and standard policies might only cover the cost of modern or generic alternatives. Fortunately, a specialized historic home insurance policy can help you restore and maintain your home to its original condition and preserve its historic authenticity.

How Can I Find the Right Historic Home Coverage?

Many home insurance carriers may offer endorsements tailored toward the needs of older homes. However, while these additions to standard policies might be sufficient in some cases, many historic homes might need a fully customized policy. At My One Stop Insurance Agency, we can help you assess your situation and identify coverage options according to your historic home’s unique characteristics and subsequent coverage needs.

How Much Does Historic Home Insurance Cost?

In many cases, historic home insurance policies cost more than their standard counterparts. Your home’s unique and historic characteristics may incur more expensive repairs or restorations, meaning that home insurance companies must anticipate having to pay out more for claims. Given these higher risk levels, carriers typically need to protect their own interests by charging more for coverage.

Get the Right Coverage

If you own or plan to purchase a historic home in Canutillo, TX, contact My One Stop Insurance Agency to discuss your options and find the right historic home insurance policy.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.