The Right Coverage For Your Historic Home

Saturday, March 1, 2003

HOMEOWNERS The Right Coverage For Your Historic Home (NAPSA)—Properly insuring a historic home can bethefirst step to restoring it to its original state after a fire or otherloss. Unfortunately, many homeowners insurance policies don’t take fadaeehes Many historic homes are not adequately insured. into accountall the cost factors of rebuilding historic homes, especially scarce materials and oldworld craftsmanship. Mary Ann Avnet, a vice presi- dent with the Chubb Group of Insurance Companies, advises homeowners to obtain a thorough home appraisal that considers thesecosts. Since these costs can escalate rapidly, she advises historic homeowners to make sure their insurance policies provide guaranteed replacement cost coverage. This can cover the full cost of rebuilding, regardless of the policy limit. Avnet also warns that many insurers no longer provide this coverage or they sell it as a rider capped at 125 percent or 150 per- cent of policy limit. She also advises homeownersto ask their agents if their policy will pay for building code upgrades, such as rewiring.

--- PHOTOS ---

File: 20190801-082148-20190801-082146-56086.pdf.jpg

--- FILES ---

File: 20190801-082146-56086.pdf