Insuring Historic Homes in Georgia: Unique Challenges and Solutions

Owning an old house in Georgia cities such as Savannah, Macon, or Athens comes with a lot of history and some challenges, too, especially when it comes to insurance. If you’ve got a historic home, finding the right coverage can feel like a puzzle. Older homes come with their own risks and quirks, so you’ve got to know what to look for. 

In this guide, you’ll learn about historic home insurance in Georgia. It’s a little more complicated than just getting a regular policy in the Peach State. You’ll learn how heritage properties have unique characteristics that you’ll need to be familiar with to get the best deal on home insurance for old homes. 

A Stroll Through History: The Value of Preserving the Past 

Georgia’s old homes aren’t just places to live. They’re pieces of history. Wander around Savannah’s Historic District, and you’ll see buildings that look almost the same as they did over 100 years ago. 

In Macon, you’ll find old Victorian houses and Greek Revival beauties. 

Athens has its fair share of homes with a classic Southern feel, some dating back to before the Civil War. 

Owning one of these historic gems means you’re not just keeping up a house, you’re also keeping history alive. But with all that age and charm, there are some things to think about when you’re getting homeowners insurance on older homes. 

What Qualifies as a “Historic” Home in Georgia? 

Not all old homes are “historic.” That’s one of those common Georgia home insurance myths. In Georgia, a house usually needs to be at least 50 years old and have some kind of historical importance. That could mean being listed on the National Register of Historic Places or sitting in a designated historic district. Savannah, Macon, and Athens are full of neighborhoods where you’ll find these kinds of homes. But just being old doesn’t mean the insurance is the same as for any other house — companies will still check out the condition of your home and any updates you’ve made when insuring an older home. 

Insurance Essentials for Georgian Antiques 

Basic home insurance on old homes is not always sufficient. Here’s a rundown of some options: 

• HO-1: This is the bare minimum. It covers around 10 common risks but doesn’t offer much beyond that. Not really a fit for most historic homes. 

• HO-2: A step up, covering 16 risks, like fire or theft. It’s better than HO-1, but still might not be enough for an older home. 

• HO-3: This is a popular choice because it covers the most common risks. It doesn’t cover everything, though. Things like floods, earthquakes, or bad building materials aren’t included. 

• HO-8: Made for older homes, this policy covers what your home is worth now, taking into account its age. It doesn’t cover the full cost of restoring everything like it would be new, but it can help with repairs that fit the original style. You’ll learn more about this one in below — it’s a special case. 

Whether you’re shopping around for Savannah historic home insurance or Macon historic home insurance, you’ll want to familiarize yourself with this lingo. 

Understanding Home Insurance for Heritage Properties 

Not all insurance covers older homes the same way. Here’s what to know: 

• Actual Cash Value (ACV): This type takes into account the home’s age, so the payout may be less than what it would cost to rebuild new. But it’s better than guessing what happens if you don’t have homeowners insurance at all. 
• Replacement Cost Coverage: This one covers rebuilding with similar materials without considering the home’s age. 
• Guaranteed Replacement Cost: This policy covers the full repair cost even if it’s higher than your coverage limits. 
• Add-Ons for Valuable Items: You might need extra coverage if your house has antiques or special features. 

The Special Case of HO-8 Policies for Historic Homes 

HO-8 policies are made for older houses. They base the payout on the current market value of the home, not the cost to rebuild it from scratch. This can work well if you’ve got a home in Macon or Athens with rare woodwork or original tiles that would be pricey to replace. It’s a practical way to cover the needs of historic houses while keeping costs down. 

Tackling the Challenges of Insuring Older Homes 

Insuring a historic home isn’t always easy. You may be dealing with old and outdated wiring and plumbing, as well as drafts and leaks in places you never expected. Keep reading to learn more. 

Upgrades and Restorations: Balancing Authenticity and Safety 

Old houses come with character, but that can mean old systems like wiring and plumbing that need attention. While these original features add to the charm, they can also be risky. It’s common for insurance companies to ask you to make updates to lower the risk, like replacing outdated wiring or adding fire-resistant roofing. 

When making these changes, it’s a good idea to stick with materials that look like they belong. This keeps the historic feel while making the house safer. 

Dealing With Non-Compliance and Rare Construction Materials 

Historic homes don’t always follow today’s building rules, and some of the materials used back then just aren’t available anymore. In places like Savannah, you might find original wood floors or old windows that aren’t easy to replace. If repairs are needed, it can be hard to find the right materials or someone who knows how to work with them. It can be even harder to figure out if your homeowners insurance covers these sorts of things. 

Some insurance policies include “ordinance or law” coverage, which helps cover the costs to meet current codes if repairs happen. Without this, you could end up paying extra out of pocket. 

Protect Your Historic Home with Velox Homeowners Insurance 

If you’ve got a historic home in Georgia, you’re doing more than owning a house — you’re preserving a bit of history. Whether you’re in Savannah, Macon, or Athens, historic home insurance is a must, and you need the right insurer that understands what your home needs. 

Velox Insurance can help you find the right heritage property insurance to keep your historic property protected, so it can stand strong for many more years. We’re here to help with our experts, who are intimately familiar with the Peach State market. Give us a call today at (855) 468-3569, come visit us in person at your local Velox office, or get a quote online to get started!