Compare historic home insurance

What coverage should I get for a historic home?

Your historical home needs dwelling and liability protection like any other nest, but consider a few extras for upgrades and authentic restoration. Coverage includes:

• Guaranteed or agreed value replacement. After getting a value estimate, guarantee your home’s replacement at today’s cost or agree to the value your insurance will pay.
• Dwelling and other structures. Protect your cherished place of history from wind, hail and other damage it may be susceptible to. Also, consider extended coverage for detached buildings since their repairs can exceed standard policy limits.
• Building code, service line or energy-efficient upgrades. Consider these options to update areas of your home when they’re damaged by a covered incident.
• Equipment breakdown. Add this coverage if you use the old appliances in your home regularly.
• Personal property. Insure both modern and aged belongings against theft or covered physical damage.
• Water backups. Repair your old pipes and sewer systems if they spring a leak, overflow or get backed up.
• Flood. Ensure you have separate insurance to cover flooding from storms.
• Personal liability. Cover yourself for injuries or property damage that happens around your home as you would with any other home.
• Valuables. Protect your antiques, fine art or expensive jewelry with extended coverage without worrying about a deductible on most policies.

How much is historic home insurance?

Home insurance for a historic home can cost around 20% higher than standard home insurance. For example, if a standard policy costs $1,200 a year, you might pay $1,440 to insure a historic home.

Top 4 ways to get cheap historic home insurance

The best way to lower insurance costs for a historic home is to repair and reinforce areas that increase its risk of damage, which is why it tops our list of ways to cut historic home insurance costs.

• Make repairs within your budget. Improve safety by replacing windows or repairing sections of the house. Major items like roof repairs and electrical wiring will have the biggest effect on your insurance.
• Find a specialty insurance company. Some standard companies that cover historic homes charge much higher prices to offset the risk. However, specialized companies are more familiar with those risks and replacement costs.
• Install monitored fire and theft alarms. You could qualify for discounts by installing safety features like monitored security alarms. Plus, you’ll get a quick response from the local police or fire department.
• Seek out home restoration projects. Your local community might offer grants or loans to help pay for home repairs, increasing safety and lowering your premium.

What should I watch out for?

Keeping your iconic home true to its time may involve extra care or steps. Consider these factors when insuring your historical space:

• Your insurance company will probably require a walk-in inspection.
• You may need major updates to qualify for insurance, like new wiring.
• Make sure your insurance allows specialized contractors or materials to restore unique parts of your home.
• You may need to protect rare items like hand-painted windows under valuables coverage.

Bottom line

Your antique home needs extra TLC when making repairs or replacements, and extra insurance coverage like building code upgrades can help. Even if you go without some options, consider agreed value or guaranteed replacement cost to make sure your home is protected at its true replacement value.

Before making your purchase, compare home insurance companies that offer the best mix of affordable coverage and benefits to fit your needs.

Frequently asked questions about historic home insurance

• What factors increase my insurance premium for a historic home?

  Along with the usual rating factors like location, these factors lend to a high premium on a historical home:

  • Outdated or knob-and-tube wiring
  • Weak roofing materials
  • Galvanized steel plumbing
  • Old appliances, like wood-burning stoves
  • Unique architecture

• Do I have to renovate a historic home to get insurance, like replacing knob-and-tube wiring?

  You might if you want a specific insurance company, but every company has different requirements. If one company denies your application, you can shop around for another that won’t require that renovation. However, the renovations required also depend on the laws and building codes in your area.

• What insurance companies specialize in historic homes?

  You can start with specialized policies through National Trust Insurance Services or Chubb. However, many standard insurance companies will work with you to cover your historic home if you qualify.