Insurance Challenges for Historic Homes in New York

Historic homes are a treasured part of New York’s landscape, offering unique character, craftsmanship, and architectural charm. While owning a historic property can be incredibly rewarding, insuring one often comes with challenges that many homeowners don’t expect.

Understanding these insurance challenges can help you secure the right coverage and protect your historic home for generations to come.

Why Historic Homes Are Harder to Insure

Historic homes are often older properties built with materials, designs, and construction methods that are no longer commonly used today. Because of this, insurance companies view them as higher risk compared to newer homes.

Standard homeowners insurance policies may not provide enough protection for these unique properties without specialized coverage.

Common Insurance Challenges for Historic Homes in New York

1. Higher Replacement and Restoration Costs

One of the biggest challenges is the cost to rebuild or restore a historic home after a loss. Many historic properties feature:

- Handcrafted woodwork and trim

- Plaster walls

- Slate or tile roofing

- Custom or rare materials

Replacing these elements often requires specialized labor and materials, which can significantly increase claim costs.

2. Limited Availability of Insurance Carriers

Not all insurance companies are willing to insure historic homes. Some may:

- Decline coverage altogether

- Offer limited protection

- Exclude certain types of losses

This makes it essential to work with an independent insurance agency that can access specialty carriers.

3. Outdated Systems and Increased Risk

Many historic homes still have older electrical, plumbing, or HVAC systems. These systems can increase the risk of:

- Fire

- Water damage

- System failures

Insurers may require upgrades or inspections before offering full coverage.

4. Historic Preservation Requirements

Homes listed on local, state, or national historic registers may have strict preservation rules. After a covered loss, homeowners may be required to restore the property using approved materials and historically accurate methods—adding time and cost to repairs.

Without the right insurance policy, these expenses may not be fully covered.

5. Ordinance and Building Code Compliance

If your historic home is damaged, repairs may need to meet modern building codes while still preserving historic features. This can create additional costs that standard policies often overlook unless ordinance or law coverage is included.

How to Properly Insure a Historic Home in New York

To protect your investment, your policy should be tailored specifically for historic properties. Important coverages may include:

- Extended or guaranteed replacement cost coverage

- Ordinance or law coverage

- Agreed value coverage

- Endorsements for historic or high-value homes

Working with an experienced insurance agency ensures your home can be restored properly—not replaced with modern substitutes.

Why Choose Michaels Insurance Group

At Michaels Insurance Group, we understand the unique insurance needs of historic homes across New York. Our team works with multiple carriers to help homeowners find coverage that accounts for restoration costs, preservation requirements, and long-term protection.

We take the time to review your property and explain your options so you can make confident, informed decisions.

Get a Free Insurance Quote for Your Historic Home

If you own a historic home in New York and want to ensure it’s properly protected, we’re here to help.

📞 Call today for a quote from Michaels Insurance Group

(631) 629-2233
(386) 274-8150

✔️ No obligation
✔️ Free quote

Let Michaels Insurance Group help you protect the history you call home.