Can anybody recommend homeowners insurance for a historical home?

[sinkingfeeling]

I've had Travelers' for about a decade, but they are getting out of sight with their annual premium increases. I've never had a claim. This year they want $2,820 to insure the house, valued by them at $588,000. That's a $400 increase over last year. They said it's because the cost of gasoline caused all building supplies to go up and Sandy (I live in the South).

My house was built in 1858. And because of its historical rating must be insured for 'replacement value', like one can replace a 150 yr. old house!

Help!

[Sekhmets Daughter]

1. Try contacting the Historical Preservation Society in your state.

[JDPriestly]

2. Insurance rates are part of the real cost of oil.

Insurance rates will continue to skyrocket due to global warming.

When people complain about the high cost of alternative energy, remember that the true cost of fossil fuels is hidden in things like insurance rates, asthma, droughts and the ensuing food shortages and the other effects of climate change.

Look beyond the obvious pump costs.

I know I am a bit off topic, but I wanted to remind people what your problem is really about. We are not just destroying our earth and our infrastructure. We are also destroying our history.

[Samantha]

3. My insurance company canceled my rental insurance on a small place in WV

I had the policy since 1998 and have never submitted a claim. The reason for the policy to be voided was that they do not insure rental homes???? But they had since 1999, and knowingly.

A consultation with someone who owns several rental homes said this is happening to a lot of people.

I did manage to get a new policy, but the way I did so was by combining all my auto and home insurance policies. The new policy on that place is much lower than the one I had previously and is much more comprehensive.

If you do not have all of your policies under one carrier, perhaps you could look into that. Most give you discounts for that. Good luck.

Sam

[sinkingfeeling]

4. Travelers' has offered to take my 3 cars and 'discount' the house for a total savings of less

than $200 a year. I don't see how that's worth doing.

[Samantha]

6. I guess you will have to shop around or try negotiating

Ask the insurer of your cars if you gave them the homeowner's what kind of policy you can get. I got my rental insurance by calling my homeowners and telling them the rental insurance agent for the WV property would only continue it if I moved my main homeowner's policy to them. I didn't like that tactic, so I called my main homeowner agent and told them. They gave me a great offer. That is the only advice I have, shop around, or contact other owners of historical homes.

Sam

[MindPilot]

5. My house was built in 1927 & I have State Farm

Replacement cost of $350,000, loss of use covered at actual cost, $1,000,000 liability, code upgrade endorsement, etc with $1,000 deductible --- $785 per year.

Not quite as historical as yours, but still pretty old.

[sinkingfeeling]

7. Our cars are with State Farm, but they won't insure anything over 100 years.

[Motown_Johnny]

8. Mutual of Oklahoma Territory?

sorry.. it just popped into my head and I had to share