Agent

5 things every agent should know about insuring historic homes

What agents and homebuyers should know about special insurance
  • Historic properties have different insurance coverage needs.
  • Market value and insured value are two distinct values that should not be compared.
  • Recent changes to the National Flood Insurance Program affect all, including historic properties.

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Whether you are helping your client to purchase or sell a historic home, there seems to be a lot of insurance misconceptions in the real estate industry regarding what is covered. We wanted to help set the record straight so that you can arm yourself with some basic information that will help you direct your clients to an appropriate insurance carrier to protect one of their biggest assets in life -- their property. Andrei Medvedev / Shutterstock.com Many large insurance companies are hesitant to cover historic homes due to being unfamiliar with how to assess potential losses for these unique dwellings. Luckily, there are independent insurance brokerages all across the country who represent high net worth insurance companies that have no problem insuring homes that are 50 years or older, which makes the home historic. One of those independent brokerages is National Trust Insurance Services, a subsidiary of the National Trust for Historic Preservation that specializes in carri...