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Thread: Insuring a Historic Building ... looking for advice...and insurance

  1. #1
    New User Level 0
    Join Date
    Aug 2012

    Default Insuring a Historic Building ... looking for advice...and insurance

    My wife and I bought a large old three story building (1900) in the county seat of her home town. The building cost us $150k and we have been steadily restoring it. It contains several apartments on the second floor and three comercial businesses on the first floor. I filed a claim earler this year for some hidden decay we discovers while we were remodeling. It was covered and was less that $10,000 in damage. After that, I learned that the insurance company was going to drop us. So we began searching for another firm. In the meantime we had a 100 yr storm and sufferred some roof damage (along with almost everyone in the region) which we also claimed. The insurance company sent us a check along with the expected notice that we were going to be dropped in two months. This is a 10,000 sq ft brick building and we own it under a LLC. When I bought the building, the previous owner had $300k ins for $1,300. I currently am paying $1,900/yr for $236k ins. We have been talking with lots of insurance agents and getting very good quotes but as soon as they learn that we had claims, they run away. This is consuming a lot of time and stressing us out. I would be satisfied to have insurance with a high deductible and liability just to cover major losses, I was also considering maybe a broader insurance policy on the company.

    Does anyone have any advice for a small business guy?


  2. #2
    New User Level 0 mangosalsa's Avatar
    Join Date
    Aug 2016


    So, they are non-renewing your policy based on the fact that you had weather damage, basically, and you can't find anyone to insure it? Have any of the companies done an inspection? Are they giving you any other reason for declination besides a loss? How far apart are your losses?

  3. #3
    Senior Member Level 1 marindependent's Avatar
    Join Date
    Aug 2016
    Marin County California


    Have you considered a Non Admitted Carrier yet?

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