Introduction
Emily and her family fell in love with a beautiful historic home in Shreveport. The house, with its intricate woodwork, antique fixtures, and unique architectural details, was a dream come true for them. However, as they settled in, they quickly realized that the charm and character of the house came with unique insurance needs. With the help of Watley Insurance Group, they found a policy that provided the right coverage, ensuring their beloved home was protected.
The Challenge of Insuring Historic Homes
Historic homes, like the one Emily and her family purchased, often have unique features and higher repair costs that standard home insurance policies may not adequately cover. These homes are not just structures; they are pieces of history with unique architectural details and materials that can be difficult and expensive to replace or repair. Homeowners need specialized insurance to protect their valuable properties adequately.
Special Considerations for Historic Home Insurance
Customizing home insurance for historic homes involves understanding the unique risks and coverage needs of these properties. Here are some critical considerations:
- Replacement Cost:
- Importance: Standard home insurance policies typically cover the replacement cost of a home based on current construction methods and materials. However, historic homes often require unique materials and craftsmanship that can be much more expensive.
- Solution: Ensure the policy covers the true replacement cost of historic features and materials. This means getting an accurate appraisal that considers the cost of restoring the home to its original state using appropriate materials and techniques.
- Restoration Coverage:
- Importance: Historic homes have original architectural details and craftsmanship that are invaluable and irreplaceable.
- Solution: Include coverage for restoring these original features. This can involve specialized endorsements or riders that provide the necessary funds to restore the home authentically after a loss.
- Ordinance or Law Coverage:
- Importance: If a historic home is damaged, repairs might need to comply with current building codes, which can be more stringent and expensive.
- Solution: This coverage helps pay for the additional costs of bringing the home up to current building codes after a loss. It ensures that you are not left out-of-pocket for these often-overlooked expenses.
- High-Value Items:
- Importance: Historic homes often contain antique furnishings, rare artifacts, and unique items that are valuable.
- Solution: Protect these items with appropriate coverage. This might involve scheduling these items separately on your policy to ensure they are fully covered for their appraised value.
- Specialized Repair Services:
- Importance: Repairs to historic homes require specialized skills and materials that are often not covered by standard policies.
- Solution: Ensure your policy provides access to contractors and craftsmen skilled in historic restorations. This can be achieved through endorsements or working with insurers who have experience in historic home insurance.
How Watley Insurance Group Helps
Navigating the complexities of insuring a historic home can be challenging, but Watley Insurance Group is here to help. Here’s how we support homeowners of historic properties:
- Expertise in Historic Homes:
- We understand the unique insurance needs of historic properties. Our agents are knowledgeable about the specific risks and requirements involved in insuring these valuable homes.
- Tailored Policies:
- We work to customize insurance policies that provide comprehensive coverage for historic homes. Our goal is to ensure you have the right protection for your unique property.
- Access to Specialists:
- We have connections with insurers and repair specialists who understand the requirements of historic restorations. This network allows us to offer policies that include coverage for specialized repair services.
Call to Action
Own a historic home in Shreveport? Contact Watley Insurance Group to customize a home insurance policy that protects your valuable property. Our team is ready to provide expert guidance and tailored solutions to ensure your historic home is adequately covered.
