Historic Home Insurance
Our real estate agent recommended a local insurance company that could cover historic homes. After about a week the company called back to say that most companies would not touch a home on the register of historic places. The insurance agent wondered if it really was a historic home and when and where it was registered.
She also discussed the problem of replacing irreplaceable decorative elements found on and in Victorian homes. I know that virtually everything could be sourced locally from specialists, including the thick wide heart redwood flooring, for a price. So the reluctance of insurers is understandable. I'm sure that the right insurer is available, it's just that it is not that easy.
The City of Eureka adopted a Historic Preservation Ordinance in 1996 and became a Certified
Local Government in 1999. Also in 1996, the City created the Local Register of Historic
Places and recorded deed references to constructively notice future property owners of
the property’s listing on the Register. Although not compulsory, the register currently includes
approximately 650 properties, which is just over one-half of the known historic resources within
the City limits based on the Green Book inventory of historic homes.
The notable study by the Eureka Heritage Society, published as Eureka, An Architectural View (1987) and also known as the “Green Book”, documented historical resources in the city under the criteria established at that time, focusing on historic buildings and architectural styles. The survey of Eureka’s architecture was a twelve year effort that involved volunteers, concerned citizens, architectural historians and preservation specialists. Each of Eureka’s 10,000 structures was photographed and professionally evaluated for architectural and historical significance. A final group of 1600 buildings was selected to be thoroughly researched and documented.
I'm not sure how this property fits into the government plans or the level of significance, but regulation can certainly inform owners decision making about getting involved in a historic home. Currently I view the prospect of high insurance premiums, high deductible or under coverage as a disincentive for the purchase of a historic home. The value of historic property is not necessarily the sale price.
In the discussion with insurers, the main question was replacement value, with the average being two hundred per square foot. Given the expense of big redwood decorations all over the house, I requested a higher replacement cost and a higher deductible. I am mainly worried about major loss and not filing little claims for broken windows or peeling paint.
A problem I anticipate is that there are a few rotted boards on the porches that need to replaced and an exterior stair where the main support has rotted out from under the landing. I expect that any insurance inspector will forward those problems to the company who will expect them to be fixed quickly, like 30 days to remedy, or the insurance will be cancelled.
She also discussed the problem of replacing irreplaceable decorative elements found on and in Victorian homes. I know that virtually everything could be sourced locally from specialists, including the thick wide heart redwood flooring, for a price. So the reluctance of insurers is understandable. I'm sure that the right insurer is available, it's just that it is not that easy.
The City of Eureka adopted a Historic Preservation Ordinance in 1996 and became a Certified
Local Government in 1999. Also in 1996, the City created the Local Register of Historic
Places and recorded deed references to constructively notice future property owners of
the property’s listing on the Register. Although not compulsory, the register currently includes
approximately 650 properties, which is just over one-half of the known historic resources within
the City limits based on the Green Book inventory of historic homes.
The notable study by the Eureka Heritage Society, published as Eureka, An Architectural View (1987) and also known as the “Green Book”, documented historical resources in the city under the criteria established at that time, focusing on historic buildings and architectural styles. The survey of Eureka’s architecture was a twelve year effort that involved volunteers, concerned citizens, architectural historians and preservation specialists. Each of Eureka’s 10,000 structures was photographed and professionally evaluated for architectural and historical significance. A final group of 1600 buildings was selected to be thoroughly researched and documented.
I'm not sure how this property fits into the government plans or the level of significance, but regulation can certainly inform owners decision making about getting involved in a historic home. Currently I view the prospect of high insurance premiums, high deductible or under coverage as a disincentive for the purchase of a historic home. The value of historic property is not necessarily the sale price.
In the discussion with insurers, the main question was replacement value, with the average being two hundred per square foot. Given the expense of big redwood decorations all over the house, I requested a higher replacement cost and a higher deductible. I am mainly worried about major loss and not filing little claims for broken windows or peeling paint.
A problem I anticipate is that there are a few rotted boards on the porches that need to replaced and an exterior stair where the main support has rotted out from under the landing. I expect that any insurance inspector will forward those problems to the company who will expect them to be fixed quickly, like 30 days to remedy, or the insurance will be cancelled.
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